Piper Sandler Begins Coverage on Trade Desk (NASDAQ:TTD)

Piper Sandler assumed coverage on shares of Trade Desk (NASDAQ:TTD) in a research note issued on Thursday. The brokerage set a “neutral” rating and a $55.00 price target on the technology company’s stock. Piper Sandler’s target price points to a potential upside of 13.46% from the stock’s previous close.

Several other equities analysts have also recently issued reports on the company. Cantor Fitzgerald lowered their price objective on Trade Desk from $115.00 to $100.00 and set a “neutral” rating on the stock in a research report on Thursday, February 13th. Robert W. Baird lowered their target price on shares of Trade Desk from $160.00 to $145.00 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. BMO Capital Markets lowered their price objective on shares of Trade Desk from $160.00 to $115.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Oppenheimer lowered their target price on Trade Desk from $135.00 to $115.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. Finally, Jefferies Financial Group reduced their price target on shares of Trade Desk from $120.00 to $75.00 and set a “buy” rating for the company in a research report on Wednesday, April 2nd. Seven equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $107.79.

Trade Desk Price Performance

NASDAQ TTD traded up $0.03 during trading on Thursday, reaching $48.48. The company’s stock had a trading volume of 799,574 shares, compared to its average volume of 5,212,451. The stock has a market capitalization of $24.05 billion, a PE ratio of 62.10, a P/E/G ratio of 3.11 and a beta of 1.56. The firm has a fifty day moving average of $64.37 and a 200 day moving average of $102.42. Trade Desk has a one year low of $42.96 and a one year high of $141.53.

Trade Desk (NASDAQ:TTD) last posted its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.21). Trade Desk had a return on equity of 16.38% and a net margin of 16.08%. Research analysts expect that Trade Desk will post 1.06 earnings per share for the current fiscal year.

Trade Desk declared that its board has initiated a stock buyback program on Wednesday, February 12th that permits the company to repurchase $564.00 million in outstanding shares. This repurchase authorization permits the technology company to repurchase up to 0.9% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Insider Transactions at Trade Desk

In other Trade Desk news, insider Samantha Jacobson sold 4,298 shares of the firm’s stock in a transaction dated Tuesday, January 28th. The stock was 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 owns 90,709 shares of the company’s stock, valued at approximately $10,754,459.04. This trade represents a 4.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 9.72% of the company’s stock.

Institutional Trading of Trade Desk

A number of institutional investors have recently bought and sold shares of TTD. Advisory Resource Group increased its position in shares of Trade Desk by 1.0% in the 3rd quarter. Advisory Resource Group now owns 10,502 shares of the technology company’s stock valued at $1,152,000 after acquiring an additional 101 shares during the period. Anchor Investment Management LLC increased its holdings in shares of Trade Desk by 357.9% in the third quarter. Anchor Investment Management LLC now owns 870 shares of the technology company’s stock valued at $95,000 after purchasing an additional 680 shares during the period. World Investment Advisors LLC lifted its holdings in shares of Trade Desk by 10.0% during the third quarter. World Investment Advisors LLC now owns 8,849 shares of the technology company’s stock worth $970,000 after purchasing an additional 803 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in Trade Desk in the third quarter valued at approximately $1,194,000. Finally, Synovus Financial Corp acquired a new position in Trade Desk in the 3rd quarter worth approximately $245,000. 67.77% of the stock is currently owned by institutional investors and hedge funds.

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.