Truist Financial Cuts Trade Desk (NASDAQ:TTD) Price Target to $95.00

Trade Desk (NASDAQ:TTD - Free Report) had its price target trimmed by Truist Financial from $130.00 to $95.00 in a research report report published on Thursday,Benzinga reports. The brokerage currently has a buy rating on the technology company's stock.

Other equities analysts have also recently issued reports about the stock. Wolfe Research boosted their target price on shares of Trade Desk from $140.00 to $155.00 and gave the company an "outperform" rating in a research note on Friday, January 3rd. Scotiabank dropped their price objective on Trade Desk from $133.00 to $83.00 and set a "sector perform" rating on the stock in a report on Thursday, February 13th. Wells Fargo & Company dropped their price target on shares of Trade Desk from $101.00 to $72.00 and set an "overweight" rating on the stock in a research note on Monday, March 31st. Benchmark raised shares of Trade Desk from a "sell" rating to a "hold" rating in a research note on Friday, March 7th. Finally, Stifel Nicolaus reduced their target price on Trade Desk from $144.00 to $122.00 and set a "buy" rating for the company in a report on Thursday, February 13th. Seven investment 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 stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $104.10.

Trade Desk Stock Up 2.3 %

Shares of Trade Desk stock traded up $1.10 during midday trading on Thursday, hitting $48.66. The company had a trading volume of 7,809,668 shares, compared to its average volume of 9,600,297. The stock has a market cap of $24.14 billion, a price-to-earnings ratio of 62.38, a PEG ratio of 3.11 and a beta of 1.56. Trade Desk has a 12-month low of $42.96 and a 12-month high of $141.53. The company has a fifty day simple moving average of $60.03 and a 200 day simple moving average of $101.03.

Trade Desk (NASDAQ:TTD - Get Free Report) last announced its quarterly earnings data 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 net margin of 16.08% and a return on equity of 16.38%. As a group, analysts expect that Trade Desk will post 1.06 EPS for the current year.

Trade Desk announced that its board has approved a stock repurchase plan on Wednesday, February 12th that allows the company to repurchase $564.00 million in outstanding shares. This repurchase authorization allows the technology company to purchase up to 0.9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its shares are undervalued.

Insider Transactions at Trade Desk

In related news, insider Samantha Jacobson sold 4,298 shares of the business's 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 completion of the transaction, the insider now owns 90,709 shares of the company's stock, valued at approximately $10,754,459.04. The trade was a 4.52 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 9.72% of the company's stock.

Hedge Funds Weigh In On Trade Desk

Institutional investors and hedge funds have recently modified their holdings of the company. LVZ Inc. boosted its holdings in shares of Trade Desk by 149.3% during the first quarter. LVZ Inc. now owns 7,230 shares of the technology company's stock worth $396,000 after purchasing an additional 4,330 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in Trade Desk in the 1st quarter valued at about $710,000. Kentucky Retirement Systems purchased a new position in shares of Trade Desk during the 1st quarter worth about $1,668,000. World Equity Group Inc. boosted its position in shares of Trade Desk by 93.4% in the first quarter. World Equity Group Inc. now owns 12,161 shares of the technology company's stock worth $665,000 after acquiring an additional 5,873 shares during the last quarter. Finally, PFG Investments LLC increased its position in Trade Desk by 233.8% during the first quarter. PFG Investments LLC now owns 9,290 shares of the technology company's stock worth $508,000 after purchasing an additional 6,507 shares during the last quarter. 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.