The Trade Desk, Inc. (NASDAQ:TTD) is one of the stocks that are grabbing investor focus today: sinking -6.29% or (-16.64 points) to $248 from its previous close of $264.64. Does this decline mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 987647 contracts so far this session. TTD shares had a relatively better volume day versus average trading capacity of 1.59 million shares, but with a 36.38 million float and a 5.07% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for TTD stock indicates that the average analyst price target is $210.88 per share. This means the stock has a potential decrease of -14.97% from where the TTD share price has been trading recently which is between $252.42 and $266. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $165.
The shorts are running away from The Trade Desk, Inc. (TTD) stock. The latest set of short interest data was released on 31 July 2019, and the numbers show a drop in short interest in TTD shares. While short interest still represents only 10.95% of TTD’s float, the number of shares shorted have fallen by -32701. The number of shares shorted fell to 3950713 shares, down from 3983414 shares during the preceding fortnight. With average daily trading volumes at 1436850 shares, days to cover decreased to about 4.186184 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Market Takes Off After Tariffs Pushed Back” and dated August 14, 2019.
During the recent trading session for The Trade Desk, Inc. (NASDAQ:TTD), the company witnessed their stock drop by $-8.87 over a week and surge $4.18 from the price 20 days ago. When compared to their established 52-week high of $289.51, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 08/09/19. The recent low of $102.35 stood for a -14.34% since 12/24/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0 is also allocated to the stock. Since the beta is less than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for The Trade Desk, Inc., the two-week RSI stands at 46.21. This figure suggests that TTD stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current TTD readings is similarly very revealing as it has a stochastic reading of 28.57% at this stage. This figure means that TTD share price today is being overbought.
Technical chart claims that The Trade Desk, Inc. (TTD) would settle between $269.62/share to $274.6/share level. However, if the stock price goes below the $256.04 mark, then the market for The Trade Desk, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $247.44 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -3.26. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Raymond James lowered their recommendation on shares of TTD from Outperform to Mkt Perform in their opinion released on August 09. Citigroup analysts have lowered their rating of The Trade Desk, Inc. (NASDAQ:TTD) stock from Buy to Neutral in a separate flash note issued to investors on July 24. Analysts at Jefferies lowered the stock to a Hold call from its previous Buy recommendation, in a research note that dated back to July 18.
TTD equity has an average rating of 2.5, with the figure leaning towards a bullish end. 16 analysts who tracked the company were contacted by Reuters. Amongst them, 9 rated the stock as a hold while the remaining 7 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while others rated it as a sell. 6 analysts rated The Trade Desk, Inc. (NASDAQ:TTD) as a buy or a strong buy while 1 advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, TTD stock price is currently trading at 72.17X forward 12-month Consensus EPS estimates, and its P/S ratio is 22.61 while for the average stock in the same group, the multiple is 6.07. The Trade Desk, Inc. current P/E ratio of 135.57 means it is trading at a premium against its industry’s 40.18. In the past 5 years, this ratio for the stock has been fluctuating between 0 and 0.
The Trade Desk, Inc. (TTD)’s current-quarter revenues are projected to climb by nearly 38.23% to hit $164260, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over 37.65% from $477290 to a noteworthy $656980. At the other end of the current quarter income statement, The Trade Desk, Inc. is expected to see its adjusted earnings surge by roughly 0% to hit $0.65 per share. For the fiscal year, TTD’s earnings are projected to climb by roughly 16.3% to hit $3.14 per share.