The Trade Desk Inc. (NASDAQ: TTD) stock fell -3.20% on Monday to $80.71 against a previous-day closing price of $83.38. With 3.12 million shares changed hands, the volume of the stock remained lighter than its average volume of 4.25 million shares. During the session, the Software – Application company that operates in wider Technology sector, reached to the highest price of $83.07 whereas the lowest price it dropped to was $80.37. The 52-week range on TTD shows that it touched its highest point at $91.85 and its lowest point at $39.43 during that stretch. It currently has a 1-year price target of $86.79. Beta for the stock currently stands at 1.71.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of TTD was down-trending over the past week, with a drop of -6.73%, but this was up by 13.37% over a month. Three-month performance surged to 5.60% while six-month performance rose 37.94%. The stock gained 28.56% in the past year, while it has gained 80.04% so far this year. A look at the trailing 12-month EPS for TTD yields 0.25 with Next year EPS estimates of 1.49. For the next quarter, that number is 0.29. This implies an EPS growth rate of -61.40% for this year and 19.94% for next year. EPS is expected to grow by 24.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -1.80%.
Float and Shares Shorts:
At present, 488.43 million TTD shares are outstanding with a float of 441.58 million shares on hand for trading. On Aug 30, 2023, short shares totaled 11.87 million, which was 2.42% higher than short shares on Jul 30, 2023. In addition to Mr. Jeffrey Terry Green as the firm’s Co-Founder, Chairman, Pres & CEO, Mr. David R. Pickles serves as its Founder, CTO & Director.
Institutional Ownership:
Through their ownership of 78.13% of TTD’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 47.29% of TTD, in contrast to 29.42% held by mutual funds. Shares owned by individuals account for 2.42%. As the largest shareholder in TTD with 10.20% of the stake, Baillie Gifford & Co. holds 45,491,130 shares worth 45,491,130. A second-largest stockholder of TTD, The Vanguard Group, Inc., holds 40,153,738 shares, controlling over 9.00% of the firm’s shares. Morgan Stanley Investment Managem is the third largest shareholder in TTD, holding 28,149,811 shares or 6.31% stake. With a 3.10% stake in TTD, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 13,833,972 shares are owned by the mutual fund manager. The Vanguard Mid Cap Index Fund, which owns about 2.23% of TTD stock, is the second-largest Mutual Fund holder. It holds 9,957,715 shares valued at 796.92 million. Vanguard US Growth Fund holds 2.15% of the stake in TTD, owning 9,602,341 shares worth 768.48 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, TTD reported revenue of $376.96M and operating income of $1.74M. The EBITDA in the recently reported quarter was $14.33M and diluted EPS was -$0.04.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for TTD since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With TTD analysts setting a high price target of $105.00 and a low target of $28.00, the average target price over the next 12 months is $86.98. Based on these targets, TTD could surge 30.1% to reach the target high and fall by -65.31% to reach the target low. Reaching the average price target will result in a growth of 7.77% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded TTD stock several times over the past three months with 3 Buys and 24 Sells. In these transactions, 65,488 shares were bought while 122,020 shares were sold. The number of buy transactions has increased to 22 while that of sell transactions has risen to 79 over the past year. The total number of shares bought during that period was 795,501 while 697,550 shares were sold.
