Susquehanna Lowers Trade Desk (NASDAQ:TTD) Price Target to $135.00

Trade Desk (NASDAQ:TTD) had its price objective cut by research analysts at Susquehanna from $150.00 to $135.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “positive” rating on the technology company’s stock. Susquehanna’s price target indicates a potential upside of 10.45% from the stock’s current price.

Several other brokerages have also recently issued reports on TTD. Citigroup lifted their price target on Trade Desk from $115.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Wells Fargo & Company lifted their target price on Trade Desk from $141.00 to $142.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Royal Bank of Canada upped their price target on shares of Trade Desk from $136.00 to $140.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. DA Davidson raised their price objective on shares of Trade Desk from $108.00 to $134.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $140.00 target price (up from $110.00) on shares of Trade Desk in a report on Friday, November 8th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Trade Desk presently has an average rating of “Moderate Buy” and an average target price of $131.60.

Trade Desk Stock Up 1.7 %

TTD stock opened at $122.23 on Thursday. The company has a market capitalization of $60.33 billion, a P/E ratio of 200.38, a PEG ratio of 3.63 and a beta of 1.45. The company has a 50-day simple moving average of $123.20 and a 200 day simple moving average of $115.54. Trade Desk has a fifty-two week low of $71.11 and a fifty-two week high of $141.53.

Trade Desk (NASDAQ:TTD) last issued its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.21). Trade Desk had a return on equity of 13.17% and a net margin of 13.34%. Equities analysts anticipate that Trade Desk will post 0.87 EPS for the current year.

Trade Desk declared that its Board of Directors has approved a share repurchase plan on Wednesday, February 12th that permits the company to repurchase $564.00 million in outstanding shares. This repurchase authorization permits the technology company to reacquire up to 0.9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other Trade Desk news, insider Samantha Jacobson sold 4,298 shares of the business’s stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $118.56, for a total value of $509,570.88. Following the completion of the sale, the insider now directly owns 90,709 shares of the company’s stock, valued at $10,754,459.04. The trade was a 4.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Jeffrey Terry Green sold 18,207 shares of the stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $125.44, for a total transaction of $2,283,886.08. Following the transaction, the chief executive officer now owns 704,229 shares in the company, valued at approximately $88,338,485.76. This trade represents a 2.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 41,029 shares of company stock valued at $5,004,296 in the last three months. Insiders own 9.72% of the company’s stock.

Hedge Funds Weigh In On Trade Desk

Several institutional investors have recently bought and sold shares of TTD. Rialto Wealth Management LLC bought a new position in shares of Trade Desk in the 4th quarter valued at approximately $26,000. Harbor Investment Advisory LLC boosted its position in Trade Desk by 68.8% during the fourth quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company’s stock worth $34,000 after purchasing an additional 117 shares during the period. Midwest Capital Advisors LLC acquired a new position in Trade Desk during the fourth quarter valued at approximately $34,000. Zions Bancorporation N.A. raised its position in shares of Trade Desk by 148.3% in the fourth quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company’s stock valued at $34,000 after purchasing an additional 175 shares during the period. Finally, Exchange Traded Concepts LLC bought a new position in shares of Trade Desk in the fourth quarter valued at approximately $35,000. 67.77% of the stock is currently owned by institutional investors.

About Trade Desk

The Trade Desk, Inc operates as a technology company in the United States and internationally. The company offers a self-service cloud-based platform that allows buyers to plan, manage, optimize, and measure data-driven digital advertising campaigns across various ad formats and channels, including video, display, audio, digital-out-of-home, native, and social on various devices, such as computers, mobile devices, televisions, and streaming devices.