The Trade Desk Unveils New Digital Ads Platform Solimar; Shares Rise


Global advertising technology provider The Trade Desk Inc. (TTD) unveiled its new trading platform, Solimar, that will aid marketers in enhancing their digital marketing campaigns. Shares of the company jumped almost 7% on the news and closed 1.4% higher at $77.64 on July 7. (See The Trade Desk stock charts on TipRanks)

The company has spent more than two years developing Solimar, a simple and secure platform allowing marketers to onboard their first-party data.

The platform also provides an advanced measurement marketplace that helps in connecting marketing performance to business goals with TTD’s advanced KOA AI tools.

Moreover, the platform optimizes campaigns based on real-time performance and creates a powerful user experience while increasing consumer-conscious privacy.

Jeff Green, Co-Founder and CEO of the company, said, “Marketers are eager to address a wide range of emerging opportunities, from the once-in-a-generation shift in TV consumption to proving the connection between their campaigns and business growth, and driving advances in consumer-conscious privacy.”

With the evolution in digital marketing occurring at a rapid pace, Solimar provides a transparent cross channel accurate platform that overcomes the limitations offered by the controlled environment of a Walled Garden.

Needham analyst Laura Martin recently reiterated a Buy rating on the stock with a price target of $100 (post-split), implying 28.8% upside potential to current levels.

Martin said, “We believe the largest share gains for the Walled Gardens are over and that the Open Internet will take back market share owing to better comparability, measurement, and the shift to connected-TV (CTV) ad units.”

She added, “TTD is the largest demand-side platform (i.e., buyer of ads) in the “Open Internet” at $4B-$5B of total ad spending on its platform in 2021 (representing about 10% of total Open Internet ad spending).”

The stock has a Strong Buy consensus rating based on 9 Buys and 3 holds. The average Trade Desk price target of $77.72 implies that shares are almost fully valued at current levels. Shares have gained 67.9% over the past year.

Related News:
WISH Receives Payment Institution License for E.U.; Street Remains Cautiously Optimistic
AMG to Acquire Majority Stake in Parnassus; Shares Pop 7%
Knight-Swift Acquires AAA Cooper; Shares Jump 4%

Stay Ahead of Everyone Else

Get The Latest Stock News Alerts