Evercore ISI Downgrades Trade Desk (NASDAQ:TTD) to Inline

Trade Desk (NASDAQ:TTD) was downgraded by equities researchers at Evercore ISI from an “outperform” rating to an “inline” rating in a research note issued on Thursday,Briefing.com Automated Import reports. They presently have a $90.00 target price on the technology company’s stock, down from their previous target price of $135.00. Evercore ISI’s price objective indicates a potential downside of 26.37% from the company’s current price.

Several other research firms also recently issued reports on TTD. Oppenheimer upped their price objective on shares of Trade Desk from $120.00 to $135.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Macquarie lifted their price objective on shares of Trade Desk from $133.00 to $150.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Wells Fargo & Company increased their target price on shares of Trade Desk from $141.00 to $142.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. BTIG Research raised their target price on shares of Trade Desk from $114.00 to $142.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, UBS Group lifted their price objective on Trade Desk from $140.00 to $150.00 and gave the company a “buy” rating in a report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Trade Desk currently has a consensus rating of “Moderate Buy” and a consensus price target of $131.70.

Trade Desk Stock Performance

NASDAQ:TTD opened at $122.23 on Thursday. Trade Desk has a 1 year low of $71.11 and a 1 year high of $141.53. The stock has a market cap of $60.33 billion, a P/E ratio of 200.38, a P/E/G ratio of 3.63 and a beta of 1.45. The stock has a 50-day simple moving average of $123.20 and a 200-day simple moving average of $115.54.

Trade Desk (NASDAQ:TTD) last announced its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.21). Trade Desk had a net margin of 13.34% and a return on equity of 13.17%. On average, equities research analysts predict that Trade Desk will post 0.87 EPS for the current year.

Trade Desk announced that its board has authorized a share buyback plan on Wednesday, February 12th that permits the company to buyback $564.00 million in shares. This buyback authorization permits the technology company to repurchase up to 0.9% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In related news, insider Samantha Jacobson sold 4,298 shares of Trade Desk stock in a transaction dated 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 transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jay R. Grant sold 18,524 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $119.35, for a total value of $2,210,839.40. Following the sale, the insider now directly owns 169,464 shares in the company, valued at approximately $20,225,528.40. This represents a 9.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 41,029 shares of company stock valued at $5,004,296 in the last quarter. Company insiders own 9.72% of the company’s stock.

Hedge Funds Weigh In On Trade Desk

A number of large investors have recently bought and sold shares of TTD. Creative Planning grew its position in Trade Desk by 10.6% in the 3rd quarter. Creative Planning now owns 129,599 shares of the technology company’s stock worth $14,211,000 after purchasing an additional 12,384 shares during the last quarter. Swedbank AB raised its stake in shares of Trade Desk by 22.6% during the third quarter. Swedbank AB now owns 288,041 shares of the technology company’s stock valued at $31,584,000 after purchasing an additional 53,130 shares in the last quarter. Vontobel Holding Ltd. grew its position in Trade Desk by 12.1% in the 3rd quarter. Vontobel Holding Ltd. now owns 11,046 shares of the technology company’s stock valued at $1,211,000 after buying an additional 1,193 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new stake in shares of Trade Desk during the 3rd quarter worth about $263,000. Finally, Paragon Capital Management Inc. acquired a new stake in shares of Trade Desk in the 3rd quarter worth approximately $811,000. 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.