Trade Desk Inc [NASDAQ: TTD] loss -2.74% or -2.38 points to close at $84.56 with a heavy trading volume of 3227226 shares. The company report on February 15, 2024 at 4:01 PM that The Trade Desk Reports Fourth Quarter and Fiscal Year 2023 Financial Results.
The Trade Desk also announced an additional share repurchase authorization, bringing the total amount of authorized future repurchases to $700 million of its Class A common stock.
The Trade Desk, Inc. (“The Trade Desk” or the “Company”) (NASDAQ: TTD), a provider of a global technology platform for buyers of advertising, today announced financial results for its fourth quarter and fiscal year ended December 31, 2023.
The daily chart for TTD points out that the company has recorded 10.68% gains over the past six months.
If we look at the average trading volume of 4.96M shares, TTD reached to a volume of 3227226 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Trade Desk Inc [TTD]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for TTD shares is $97.85 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on TTD stock is a recommendation set at 1.74. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
BTIG Research have made an estimate for Trade Desk Inc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on February 23, 2024. While these analysts kept the previous recommendation, Seaport Research Partners raised their target price to Neutral. The new note on the price target was released on February 12, 2024, representing the official price target for Trade Desk Inc stock. Previously, the target price had yet another raise from $73 to $80, while Wells Fargo kept a Overweight rating on TTD stock.
The Average True Range (ATR) for Trade Desk Inc is set at 2.55, with the Price to Sales ratio for TTD stock in the period of the last 12 months amounting to 21.24. The Price to Book ratio for the last quarter was 19.10, with the Price to Cash per share for the same quarter was set at 2.82. Price to Free Cash Flow for TTD in the course of the last twelve months was 74.96 with Quick ratio for the last quarter at 1.72.
Trading performance analysis for TTD stock
Trade Desk Inc [TTD] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.04. With this latest performance, TTD shares gained by 3.82% in over the last four-week period, additionally plugging by 10.68% over the last 6 months – not to mention a rise of 39.86% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for TTD stock in for the last two-week period is set at 54.75, with the RSI for the last a single of trading hit 49.79, and the three-weeks RSI is set at 56.24 for Trade Desk Inc [TTD]. The present Moving Average for the last 50 days of trading for this stock 79.03, while it was recorded at 86.66 for the last single week of trading, and 76.90 for the last 200 days.
Trade Desk Inc [TTD]: A deeper dive into fundamental analysis
Trade Desk Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.72 and a Current Ratio set at 1.72.
Trade Desk Inc [TTD]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Trade Desk Inc posted 0.23/share EPS, while the average EPS was predicted by analysts to be reported at 0.12/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 91.70%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for TTD. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Trade Desk Inc go to 24.00%.
An analysis of Institutional ownership at Trade Desk Inc [TTD]
The top three institutional holders of TTD stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in TTD stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in TTD stock with ownership which is approximately 5.8386%.
