Trade Desk (NASDAQ:TTD) Price Target Cut to $60.00 by Analysts at Morgan Stanley

Trade Desk (NASDAQ:TTD - Free Report) had its target price reduced by Morgan Stanley from $132.00 to $60.00 in a report released on Thursday,Benzinga reports. Morgan Stanley currently has an overweight rating on the technology company's stock.

TTD has been the topic of several other research reports. Cfra Research raised Trade Desk to a "moderate buy" rating in a research note on Tuesday, March 25th. Citizens Jmp raised shares of Trade Desk to a "strong-buy" rating in a research report on Tuesday, January 21st. Wolfe Research boosted their target price on Trade Desk from $140.00 to $155.00 and gave the company an "outperform" rating in a research report on Friday, January 3rd. Loop Capital dropped their price objective on Trade Desk from $145.00 to $101.00 and set a "buy" rating for the company in a research note on Thursday, February 20th. Finally, Wells Fargo & Company decreased their target price on Trade Desk from $101.00 to $72.00 and set an "overweight" rating on the stock in a research note on Monday, March 31st. Seven research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $104.10.

Trade Desk Trading Up 2.3 %

NASDAQ:TTD traded up $1.10 during trading hours on Thursday, hitting $48.66. The company had a trading volume of 7,918,573 shares, compared to its average volume of 5,316,218. Trade Desk has a 1 year low of $42.96 and a 1 year high of $141.53. The company has a 50-day moving average of $60.03 and a 200 day moving average of $101.03. The company has a market cap of $24.14 billion, a P/E ratio of 62.38, a P/E/G ratio of 3.11 and a beta of 1.56.

Trade Desk (NASDAQ:TTD - Get Free Report) last posted its 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 16.08% and a return on equity of 16.38%. On average, analysts forecast that Trade Desk will post 1.06 earnings per share for the current year.

Trade Desk announced that its board has approved a stock buyback plan on Wednesday, February 12th that authorizes the company to buyback $564.00 million in shares. This buyback authorization authorizes the technology company to purchase up to 0.9% of its shares through open market purchases. Shares buyback plans are often an indication that the company's leadership believes its shares are undervalued.

Insiders Place Their Bets

In other news, insider Samantha Jacobson sold 4,298 shares of Trade Desk stock in a transaction dated Tuesday, January 28th. The shares were 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 $10,754,459.04. The trade was a 4.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 9.72% of the stock is owned by insiders.

Institutional Investors Weigh In On Trade Desk

A number of hedge funds have recently added to or reduced their stakes in TTD. Investment Management Corp VA ADV acquired a new stake in Trade Desk in the 4th quarter valued at about $25,000. Rialto Wealth Management LLC purchased a new position in Trade Desk in the 4th quarter valued at about $26,000. Harbor Investment Advisory LLC boosted its stake 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 purchasing an additional 117 shares during the last quarter. Synergy Asset Management LLC purchased a new stake in shares of Trade Desk during the fourth quarter worth about $34,000. Finally, Midwest Capital Advisors LLC acquired a new position in shares of Trade Desk in the fourth quarter valued at approximately $34,000. Institutional investors and hedge funds own 67.77% of the company's stock.

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.