In recent trading, shares of The Trade Desk Inc (Symbol: TTD) have crossed above the average analyst 12-month target price of $81.61, changing hands for $88.94/share. As this event unfolds, analysts find themselves faced with a crucial decision: downgrading due to valuation concerns or adjusting the target price upwards. Such decisions are contingent upon pivotal business developments bolstering the stock price. Should these developments imply a positive trajectory for the company, the logical step may be to raise the target price.
The Zacks coverage universe encompasses 25 distinct analyst targets contributing to the average for The Trade Desk Inc. However, it’s important to acknowledge that the average represents a numerical mean rather than a definitive projection. Attesting to this, there exist analysts with targets lower than the average, including one predicting a price of $42.00, while another foresees a target as high as $100.00, creating a standard deviation of $12.593.
Nevertheless, the reason behind assessing the average TTD price target lies in tapping into the collective wisdom, which amalgamates the insights of all contributing analysts rather than hinging on the perspective of a single expert. With TTD surging above the average target price of $81.61/share, investors are presented with a valuable indicator to reevaluate the company and determine whether $81.61 is merely a pit stop en route to a higher target, or if the valuation has extended to a point where profit-taking considerations are in order. Below is a table illustrating the current sentiments of analysts covering The Trade Desk Inc:
| Recent TTD Analyst Ratings Breakdown | ||||
|---|---|---|---|---|
| » | Current | 1 Month Ago | 2 Month Ago | 3 Month Ago |
| Strong buy ratings: | 20 | 20 | 19 | 19 |
| Buy ratings: | 2 | 2 | 2 | 2 |
| Hold ratings: | 5 | 4 | 4 | 4 |
| Sell ratings: | 0 | 0 | 0 | 0 |
| Strong sell ratings: | 1 | 1 | 1 | 1 |
| Average rating: | 1.57 | 1.52 | 1.54 | 1.54 |
The average rating mentioned in the last row ranges from 1 to 5, where 1 denotes Strong Buy and 5 implies Strong Sell. Data utilized in this article has been sourced from Zacks Investment Research via Quandl.com. Acquire the latest Zacks research report on TTD — FREE.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
