Oppenheimer Issues Pessimistic Forecast for Trade Desk (NASDAQ:TTD) Stock Price

Trade Desk (NASDAQ:TTD) had its price objective lowered by equities research analysts at Oppenheimer from $135.00 to $115.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the technology company’s stock. Oppenheimer’s price objective would suggest a potential upside of 43.46% from the stock’s previous close.

Several other equities research analysts have also issued reports on the company. KeyCorp raised their price objective on Trade Desk from $140.00 to $142.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Susquehanna decreased their price target on Trade Desk from $150.00 to $135.00 and set a “positive” rating for the company in a research note on Thursday. Stifel Nicolaus decreased their price target on Trade Desk from $144.00 to $122.00 and set a “buy” rating for the company in a research note on Thursday. Scotiabank assumed coverage on Trade Desk in a research note on Thursday, December 5th. They set a “sector perform” rating and a $133.00 price target for the company. Finally, JMP Securities decreased their price target on Trade Desk from $150.00 to $115.00 and set a “market outperform” rating for the company in a research note on Thursday. One research analyst has rated the stock with a sell rating, five have given a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Trade Desk currently has an average rating of “Moderate Buy” and an average price target of $119.77.

Trade Desk Trading Down 2.1 %

NASDAQ:TTD opened at $80.16 on Thursday. Trade Desk has a 12-month low of $73.68 and a 12-month high of $141.53. The stock has a 50-day moving average price of $120.93 and a 200 day moving average price of $115.22. The stock has a market capitalization of $39.56 billion, a P/E ratio of 131.41, a P/E/G ratio of 3.63 and a beta of 1.45.

Trade Desk (NASDAQ:TTD) last released 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 net margin of 13.34% and a return on equity of 13.17%. On average, research analysts predict that Trade Desk will post 0.87 earnings per share for the current fiscal year.

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

Insider Buying and Selling

In other Trade Desk news, insider Jay R. Grant sold 18,524 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $119.35, for a total transaction of $2,210,839.40. Following the completion of the sale, the insider now directly owns 169,464 shares in the company, valued at approximately $20,225,528.40. The trade was a 9.85 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Samantha Jacobson sold 4,298 shares of the business’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $118.56, for a total value of $509,570.88. Following 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 41,029 shares of company stock valued at $5,004,296. 9.72% of the stock is owned by company insiders.

Institutional Investors Weigh In On Trade Desk

A number of large investors have recently made changes to their positions in TTD. Rialto Wealth Management LLC purchased a new position in Trade Desk in the fourth quarter worth approximately $26,000. Harbor Investment Advisory LLC grew its position in Trade Desk by 68.8% in the fourth quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company’s stock worth $34,000 after acquiring an additional 117 shares during the period. Synergy Asset Management LLC purchased a new position in Trade Desk in the fourth quarter worth approximately $34,000. Midwest Capital Advisors LLC purchased a new position in Trade Desk in the fourth quarter worth approximately $34,000. Finally, Zions Bancorporation N.A. grew its position in Trade Desk by 148.3% in the fourth quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company’s stock worth $34,000 after acquiring an additional 175 shares during the period. 67.77% of the stock is currently owned by hedge funds and other 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.