In a report released today, Brian Schwartz from Oppenheimer reiterated a Buy rating on Trade Desk Inc (TTD), with a price target of $160. The company’s shares closed yesterday at $139.
Schwartz said:
“We view The Trade Desk as a clear secular winner with open-ended growth. The evolution of the company into a broader enterprise-scale SaaS platform in Digital Advertising is proceeding at an aggressive pace, driving robust growth and profitability for the business, and management has put in place a sustainable technology advantage with a core platform refresh. We see the combined effects of steady share gains in a large TAM, new markets, and rapid platform technology updates driving sustained 30%+ revenue, EBITDA, and cash flow growth for The Trade Desk’s business over the next one to two years, and supporting valuation. Bottom Line: While we note large expectations and a healthy current valuation on TTD shares, we expect 4Q growth to exceed expectations. Reiterate Outperform, raise PT to $160 from $130.”
According to TipRanks.com, Schwartz is a top 25 analyst with an average return of 25.0% and a 73.7% success rate. Schwartz covers the Technology sector, focusing on stocks such as Ultimate Software, Instructure Inc, and Salesforce.com.
Trade Desk Inc has an analyst consensus of Moderate Buy, with a price target consensus of $129.56.
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Based on Trade Desk Inc’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $20.29 million. In comparison, last year the company had a net profit of $10.23 million.
Based on the recent corporate insider activity of 91 insiders, corporate insider sentiment is negative on the stock.
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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.
