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- 1 The Trade Desk, Inc. (TTD) stock declined over 7% weekly.
- 2 The market analyst believes that TTD stock might break the nearest resistance of $78 soon.
- 3 From June 2 till July 10, 2023, TTD stock pi]rice consolidated in the range between $74 to $75.
TTD stock price surged over 68% in the Year-to-Date time frame. At the time of writing, it was trading at $74.37 with a positive momentum in the trading price.
The Trade Desk, Inc. (TTD) Stock Price Analysis
In the 52-week time frame, Trade Desk, Inc. peaked at $91.85, and its lowest traded at $39.43. The annual price target of TTD stock is 19, more significant than its press-time trading price.
Trade Desk, Inc. has a market capitalization of $36.456 Billion. Companiesmarketcap(dot)com data states that the company’s market cap is surging over 66% this year as compared to that in 2022.
However, in a week, Trade Desk stock declined over 7% and 2.89% in a quarter. Despite weekly, monthly, and quarterly declines, its price rose over 21.46% in the past six months and 29.05% in the 52-week time frame.
While publishing this, TTD stock was trading below the 200-day exponential moving average(EMA) and was trading above 20, 50, and 100-day EMA. The MACD and signal lines move below the zero line, and seller accumulation is seen below the zero line.
The RSI line is approaching the negative territory, but the RSI-based MA line is above the zero line. On June 2, 2023, TTD’s stock price changed its gear and started trading above $72.
From June 2 to July 10, 2023, The Trade Desk, Inc. stock consolidated in the range between $74 to $75. On July 11, a skyrocketing move in the TTD stock trading price was seen, crossing the golden hurdle of $80.
As per market analysts, a Trade Desk stock trading price decline is expected in the coming sessions. TradingView data states that 441.07 Million TTD shares are free-floating, and the remaining 5.093 Million shares are closely held.
The Trade Desk, Inc (TTD) Financial Update
The Trade Desk, Inc. met the analyst’s estimation and reported 2.07% more revenue than estimated. The reported EPS of the company was 8.06% higher than its estimated EPS.
The estimated EPS for the third quarter is positive $0.29, and revenue is $486.54 Million. From the reported revenue of 2022, the company’s net income was $53.38 Million, and its profit margin was 3.38%.
Technical Levels
Support Level: $70.48 & $64.50
Resistance Level:$78.19 & $83.04
Conclusion:
While writing, TTD stock was trading 16% below its annual price target of $86.98. The MACD line and histogram reflect mild bearishness; a decline of over 3% is seen weekly. As per market analysts, The Trade Desk, Inc. stock is expected to rise in the coming session and might soon bypass the resistance of $78.19.
Disclaimer
The views and opinions stated by the author or anyone named in this article are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
