In a report released today, Jessica Reif Ehrlich from Bank of America Securities maintained a Buy rating on Trade Desk (TTD – Research Report), with a price target of $130.00.
Jessica Reif Ehrlich’s rating is based on The Trade Desk’s strong positioning in the digital advertising market, particularly in high-growth areas such as Connected TV (CTV) and retail media. Despite macroeconomic uncertainties, the company’s revenue and adjusted EBITDA are expected to align with guidance, indicating resilience in its business model. The Trade Desk’s strategic initiative to transition clients to the Kokai platform, which enhances capabilities like supply chain improvements and AI-driven insights, is a key growth driver.
Additionally, while competition from major players like Amazon poses a challenge, The Trade Desk has consistently demonstrated its ability to compete effectively. The company’s valuation is supported by its competitive edge and the secular tailwinds benefiting programmatic advertising. With a price objective of $130, significantly higher than the current trading price, the Buy rating reflects confidence in The Trade Desk’s potential for long-term growth and market share expansion.
In another report released on March 25, CFRA also upgraded the stock to a Buy with a $97.00 price target.