Jefferies Financial Group Cuts Trade Desk (NASDAQ:TTD) Price Target to $75.00

Trade Desk (NASDAQ:TTD - Free Report) had its target price decreased by Jefferies Financial Group from $120.00 to $75.00 in a report released on Wednesday morning, MarketBeat reports. Jefferies Financial Group currently has a buy rating on the technology company's stock.

Several other brokerages have also recently commented on TTD. Evercore ISI cut Trade Desk from an "outperform" rating to an "inline" rating and lowered their price target for the company from $135.00 to $90.00 in a research note on Thursday, February 13th. BMO Capital Markets decreased their target price on shares of Trade Desk from $160.00 to $115.00 and set an "outperform" rating for the company in a research report on Thursday, February 13th. Wells Fargo & Company cut their price target on shares of Trade Desk from $101.00 to $72.00 and set an "overweight" rating on the stock in a report on Monday. Cantor Fitzgerald reduced their price objective on shares of Trade Desk from $115.00 to $100.00 and set a "neutral" rating for the company in a research note on Thursday, February 13th. Finally, Oppenheimer cut 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. Six investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $114.38.

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Trade Desk Stock Performance

Shares of NASDAQ TTD traded down $2.84 during mid-day trading on Wednesday, reaching $46.24. The company had a trading volume of 15,267,052 shares, compared to its average volume of 4,950,409. The company has a market capitalization of $22.94 billion, a price-to-earnings ratio of 59.28, a PEG ratio of 3.11 and a beta of 1.56. The stock has a fifty day moving average of $78.11 and a two-hundred day moving average of $106.55. Trade Desk has a 12-month low of $45.05 and a 12-month high of $141.53.

Trade Desk (NASDAQ:TTD - Get Free Report) last posted 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 16.38% and a net margin of 16.08%. Sell-side analysts forecast that Trade Desk will post 1.06 earnings per share for the current fiscal year.

Trade Desk announced that its board has approved a share buyback program on Wednesday, February 12th that allows the company to buyback $564.00 million in outstanding shares. This buyback authorization allows the technology company to repurchase up to 0.9% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling at Trade Desk

In other Trade Desk news, CEO Jeffrey Terry Green sold 18,207 shares of the business's stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $125.44, for a total value of $2,283,886.08. Following the completion of the transaction, the chief executive officer now directly owns 704,229 shares of the company's stock, valued at approximately $88,338,485.76. The trade was a 2.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Samantha Jacobson sold 4,298 shares of the company'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 transaction of $509,570.88. Following the transaction, the insider now owns 90,709 shares in the company, valued at $10,754,459.04. The trade was a 4.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 9.72% of the company's stock.

Institutional Investors Weigh In On Trade Desk

A number of institutional investors and hedge funds have recently made changes to their positions in TTD. Investment Management Corp VA ADV acquired a new stake in Trade Desk in the fourth quarter worth about $25,000. Rialto Wealth Management LLC acquired a new stake in shares of Trade Desk during the 4th quarter worth approximately $26,000. Harbor Investment Advisory LLC grew its position in shares of Trade Desk by 68.8% during the 4th quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company's stock worth $34,000 after buying an additional 117 shares during the period. Synergy Asset Management LLC bought a new stake in shares of Trade Desk during the fourth quarter worth approximately $34,000. Finally, Midwest Capital Advisors LLC acquired a new position in Trade Desk in the fourth quarter valued at approximately $34,000. Institutional investors own 67.77% of the company's stock.

Trade Desk Company Profile

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.