Trade Desk Inc (TTD) Received its Third Buy in a Row

By Austin Angelo

After Susquehanna and SunTrust Robinson gave Trade Desk Inc (NASDAQ: TTD) a Buy rating last month, the company received another Buy, this time from Oppenheimer. Analyst Brian Schwartz maintained a Buy rating on Trade Desk Inc today and set a price target of $210. The company’s shares closed yesterday at $186.94, close to its 52-week high of $214.70.

Schwartz observed:

“TTD shares have declined 12% since Friday’s open mostly from reports that Google could restrict third-party ad targeting on Chrome. The market reaction looks overblown for these reasons: 1) The key growth drivers (ConnectedTV, Mobile, China) are strengthening and do not rely on cookies. This allows us to carry an upward bias to consensus estimates; 2) TTD’s Safari desktop revenue continued to grow through similar changes from that browser in the past; and 3) We understand the shoot first and ask questions later approach, but question the viability owing to anti-trust, publisher and advertiser pushback. Bottom Line: We remain long-term bullish on the name, but also believe that higher estimates rather than further multiples expansion will catalyze a higher share price. Reiterate Outperform.”

According to TipRanks.com, Schwartz is a top 25 analyst with an average return of 28.1% and a 76.8% success rate. Schwartz covers the Technology sector, focusing on stocks such as Instructure Inc, Salesforce.com, and MiX Telematics.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Trade Desk Inc with a $186.11 average price target.

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The company has a one-year high of $214.70 and a one-year low of $45.77. Currently, Trade Desk Inc has an average volume of 1.37M.

Based on the recent corporate insider activity of 88 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.