UBS Group Has Lowered Expectations for Trade Desk (NASDAQ:TTD) Stock Price

Trade Desk (NASDAQ:TTD - Get Free Report) had its price objective reduced by UBS Group from $116.00 to $80.00 in a report issued on Friday,Benzinga reports. The firm presently has a "buy" rating on the technology company's stock. UBS Group's price objective indicates a potential upside of 64.61% from the company's current price.

TTD has been the topic of a number of other research reports. KeyCorp cut their price target on shares of Trade Desk from $74.00 to $67.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 9th. Loop Capital decreased their target price on Trade Desk from $145.00 to $101.00 and set a "buy" rating for the company in a report on Thursday, February 20th. Oppenheimer lowered their target price on Trade Desk from $135.00 to $115.00 and set an "outperform" rating for the company in a research note on Thursday, February 13th. Morgan Stanley lowered their price objective on shares of Trade Desk from $145.00 to $132.00 and set an "overweight" rating for the company in a research report on Thursday, February 13th. Finally, Cantor Fitzgerald decreased their target price 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. Six equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $109.69.

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Trade Desk Price Performance

Trade Desk stock traded down $0.64 during trading hours on Friday, hitting $48.60. The stock had a trading volume of 3,003,034 shares, compared to its average volume of 5,208,324. The stock's fifty day moving average is $65.74 and its two-hundred day moving average is $102.80. The stock has a market capitalization of $24.11 billion, a price-to-earnings ratio of 62.31, a PEG ratio of 3.11 and a beta of 1.56. Trade Desk has a 1-year low of $42.96 and a 1-year high of $141.53.

Trade Desk (NASDAQ:TTD - Get Free Report) last posted 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, sell-side analysts anticipate that Trade Desk will post 1.06 EPS for the current year.

Trade Desk declared that its Board of Directors has initiated a share buyback program on Wednesday, February 12th that authorizes the company to buyback $564.00 million in outstanding shares. This buyback authorization authorizes the technology company to buy up to 0.9% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's management believes its stock is undervalued.

Insider Activity at Trade Desk

In other Trade Desk news, insider Samantha Jacobson sold 4,298 shares of the firm'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 completion of the sale, the insider now owns 90,709 shares in the company, valued at approximately $10,754,459.04. This trade represents a 4.52 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 9.72% of the company's stock.

Hedge Funds Weigh In On Trade Desk

Hedge funds have recently made changes to their positions in the business. Lyell Wealth Management LP boosted its holdings in shares of Trade Desk by 24.3% in the 4th quarter. Lyell Wealth Management LP now owns 98,339 shares of the technology company's stock worth $11,558,000 after acquiring an additional 19,204 shares in the last quarter. Nordea Investment Management AB boosted its stake in Trade Desk by 36.2% in the fourth quarter. Nordea Investment Management AB now owns 1,347,318 shares of the technology company's stock worth $159,132,000 after purchasing an additional 358,350 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Trade Desk by 276.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 70,237 shares of the technology company's stock worth $8,255,000 after purchasing an additional 51,603 shares during the last quarter. Independent Solutions Wealth Management LLC increased its stake in shares of Trade Desk by 21.0% in the third quarter. Independent Solutions Wealth Management LLC now owns 64,358 shares of the technology company's stock valued at $7,057,000 after buying an additional 11,181 shares in the last quarter. Finally, Moody National Bank Trust Division acquired a new position in shares of Trade Desk during the fourth quarter worth approximately $985,000. Institutional investors and hedge funds 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.