Matthew Cost, an analyst from Morgan Stanley, reiterated the Buy rating on Trade Desk (TTD – Research Report). The associated price target was lowered to $132.00.
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Matthew Cost’s rating is based on a combination of factors that highlight Trade Desk’s potential for long-term success in the programmatic CTV advertising space. Despite a disappointing fourth quarter, where revenue and EBITDA fell short of expectations, Cost remains optimistic due to the proactive measures management is implementing to address these setbacks. The management’s accountability and strategic planning for growth, including scaling new partnerships and expanding their offerings, provide confidence in the company’s future trajectory.
Cost also emphasizes Trade Desk’s continued leadership and innovation within the open web and CTV ecosystems. The challenges faced in the recent quarter are viewed as temporary rather than structural or competitive, suggesting an opportunity for investors to acquire shares at a favorable valuation. With expectations for 2025 that are seen as derisked, and minimal threats from competitors like Google’s DSP, Cost maintains a positive outlook for Trade Desk, supporting his Buy rating.
Cost covers the Technology sector, focusing on stocks such as AppLovin, Trade Desk, and Unity Software. According to TipRanks, Cost has an average return of -0.2% and a 53.73% success rate on recommended stocks.
In another report released today, JMP Securities also reiterated a Buy rating on the stock with a $115.00 price target.