Pivotal Research Maintains a Buy Rating on Trade Desk Inc (TTD)


In a report released today, Michael Levine CFA from Pivotal Research maintained a Buy rating on Trade Desk Inc (TTD), with a price target of $265. The company’s shares opened today at $224.58, close to its 52-week high of $234.

Levine CFA wrote:

“We continue to value the company on an average between 10.5x 2021 revenues and 30x EV/EBITA, Our 2021 estimates slightly increase, we are taking our target up to $265 from $255. Particularly given the regulatory headwinds likely to weigh on mega-cap multiples, it remains one of our favorite names. Based on our data through May, we see continued share gains by TTD relative to other DSPs, we are increasingly comfortable about our above consensus 2Q19 numbers. However, as we continue to do more work around the connected TV space, despite TTD’s impressive position within online, we think we may have gotten slightly ahead of our skis regarding the ramp in connected TV in 2H19. Nothing has changed regarding our view of the business or the opportunity.”

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Trade Desk Inc with a $209.88 average price target.

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Trade Desk Inc’s market cap is currently $9.91B and has a P/E ratio of 116.05. The company has a Price to Book ratio of 23.09.

Based on the recent corporate insider activity of 80 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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