Oppenheimer Believes Trade Desk Inc (TTD) Still Has Room to Grow


In a report released today, Brian Schwartz from Oppenheimer maintained a Buy rating on Trade Desk Inc (TTD), with a price target of $210. The company’s shares closed yesterday at $188.80, close to its 52-week high of $202.30.

Schwartz wrote:

“The Trade Desk’s management team provided an upbeat set of presentations including enhanced financials transparency, a connected TV and platform technologies deep dive, and detailed discussion on strategies to capitalize on the endmarket demand shifts at Wednesday’s investors meeting. Bottom line: We believe the company is executing very well these days and that the tone of the business from management was positive. We think the combined effects of steady share gains, international’s maturation, new services, and rapid platform updates can drive sustained revenue, EBITDA and FCF growth of 30%+ year/year for TTD’s business over the next 3 years, especially as the newer connected TV, data services, video, mobile, and international markets stabilize, and the company reaches scale in those markets. Raise target to $210 from $180.”

According to TipRanks.com, Schwartz is a top 25 analyst with an average return of 27.7% and a 75.4% success rate. Schwartz covers the Technology sector, focusing on stocks such as Instructure Inc, Salesforce.com, and MiX Telematics.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Trade Desk Inc with a $188 average price target, a -0.4% downside from current levels. In a report issued on February 22, Citigroup also maintained a Buy rating on the stock with a $195 price target.

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Trade Desk Inc’s market cap is currently $8.28B and has a P/E ratio of 98.85. The company has a Price to Book ratio of 20.99.

Based on the recent corporate insider activity of 85 insiders, corporate insider sentiment is negative on the stock.

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The Trade Desk, Inc. is a technology company, which engages in the provision of technology platform for advertising buyers. Its products include audio advertising, mobile advertising, native advertising, data management platform, cross-device targeting, and inventory and marketplaces.

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