Citi sees attractive setup for Trade Desk into Q4 report

Citi expects Trade Desk (TTD) to continue delivering its “beat-and-raise cadence” in Q4 and sees an attractive setup into the report with upside to Street estimates. Investor sentiment “leans positive” for Trade Desk despite the shares trading back to pre-U.S. election levels of $120, but mid-term investor sentiment is more mixed regarding 2025 gross billings growth with continued concern around Amazon alongside questions on when key connected TV partnerships begin to ramp more meaningfully, the analyst tells investors in a research note. Citi says its work and checks continue to support the view that Trade Desk’s key growth drivers are strengthening and that the company remains a critical partner to its large agency and brand clients. The firm has a Buy rating on the shares with a $140 price target