In a report released today, Brian Schwartz from Oppenheimer maintained a Buy rating on Trade Desk Inc (NASDAQ: TTD), with a price target of $101. The company’s shares closed yesterday at $91.54, close to its 52-week high of $94.49.
Schwartz commented:
“We recently held a platform technologies due diligence session and management meeting at the company’s office. While no new material information was discussed, the meeting solidified our view that TTD can experience above average SaaS industry growth and profit margins over the next few years by capitalizing on its architecture superiority, high referenceability, and leading supplier positioning in three mega-trends (SaaS structural, ad spend shift to programmatic, and convergence in customer engagement). Bottom Line: We believe The Trade Desk’s organically developed and extensible omnichannel SaaS platform, along with its media independence, make it highly attractive to agencies, and its industry-leading growth and profit margins set it apart as one of the highest quality SaaS names in digital advertising. Raise PT to $101 on higher SaaS industry group multiples.”
According to TipRanks.com, Schwartz is a top 25 analyst with an average return of 28.4% and a 79.1% success rate. Schwartz covers the Technology sector, focusing on stocks such as Ultimate Software, Salesforce.com, and MiX Telematics.
Currently, the analyst consensus on Trade Desk Inc is Strong Buy and the average price target is $89.43, representing a -2.3% downside.
In a report issued on June 8, Stifel Nicolaus also maintained a Buy rating on the stock with a $97 price target.
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Based on Trade Desk Inc’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $9.07 million. In comparison, last year the company had a net profit of $4.91 million.
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The Trade Desk, Inc. provides a technology platform for ad buyers. It offers agencies, aggregators and advertisers technology to manage and display, social, mobile and video advertising campaigns. The company was founded by Jeffrey Terry Green and David Pickles in November 2009 and is headquartered in Ventura, CA.
