Trade Desk (NASDAQ:TTD) Price Target Lowered to $63.00 at Citigroup

Trade Desk (NASDAQ:TTD - Get Free Report) had its price objective lowered by equities researchers at Citigroup from $70.00 to $63.00 in a research note issued on Friday,Benzinga reports. The firm currently has a "buy" rating on the technology company's stock. Citigroup's price objective indicates a potential upside of 16.73% from the stock's previous close.

Other analysts have also issued research reports about the stock. Wolfe Research increased their price objective on shares of Trade Desk from $140.00 to $155.00 and gave the stock an "outperform" rating in a research note on Friday, January 3rd. Jefferies Financial Group lowered their target price on Trade Desk from $120.00 to $75.00 and set a "buy" rating on the stock in a research note on Wednesday, April 2nd. Wells Fargo & Company lowered their price objective on Trade Desk from $101.00 to $72.00 and set an "overweight" rating on the stock in a research report on Monday, March 31st. Cfra Research upgraded shares of Trade Desk to a "moderate buy" rating in a research note on Tuesday, March 25th. Finally, BMO Capital Markets dropped their price target 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. Seven research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $101.34.

Trade Desk Stock Up 1.3 %

Shares of TTD traded up $0.70 during mid-day trading on Friday, hitting $53.97. 6,287,369 shares of the company traded hands, compared to its average volume of 5,369,239. Trade Desk has a 1-year low of $42.96 and a 1-year high of $141.53. The company has a market capitalization of $26.77 billion, a PE ratio of 69.19, a price-to-earnings-growth ratio of 3.11 and a beta of 1.56. The business has a 50 day moving average of $57.70 and a 200 day moving average of $99.39.

Trade Desk (NASDAQ:TTD - Get Free Report) last released its earnings results on Wednesday, February 12th. The technology company reported $0.36 earnings per share (EPS) 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%. As a group, research analysts expect that Trade Desk will post 1.06 EPS for the current fiscal year.

Trade Desk declared that its Board of Directors has approved a stock repurchase program on Wednesday, February 12th that authorizes the company to repurchase $564.00 million in outstanding shares. This repurchase authorization authorizes the technology company to repurchase up to 0.9% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board believes its stock is undervalued.

Insider Buying and Selling

In other news, insider Samantha Jacobson sold 4,298 shares of the stock in a transaction 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 directly owns 90,709 shares in the company, 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 is accessible through the SEC website. 9.72% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Trade Desk

Several large investors have recently bought and sold shares of TTD. Advisory Resource Group grew its holdings in Trade Desk by 1.0% during the 3rd quarter. Advisory Resource Group now owns 10,502 shares of the technology company's stock worth $1,152,000 after acquiring an additional 101 shares in the last quarter. Anchor Investment Management LLC boosted its holdings in 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 in the last quarter. World Investment Advisors LLC raised its holdings in 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 in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Trade Desk during the 3rd quarter worth approximately $1,194,000. Finally, Synovus Financial Corp purchased a new position in shares of Trade Desk in the 3rd quarter valued at $245,000. Hedge funds and other institutional investors 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.