Analyst Laura Martin of Needham maintained a Buy rating on Trade Desk, retaining the price target of $84.00.
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Laura Martin’s rating is based on a combination of factors that highlight the potential for growth in Trade Desk’s operations despite challenges in the AdTech sector. She acknowledges the concerns surrounding Google’s shift towards providing direct answers rather than links, which could impact traffic and revenue for AdTech companies. However, she points out that the overall number of search queries has increased, indicating a growing demand for online advertising solutions.
Furthermore, while the traffic from links has slightly decreased, the rapid growth in the use of answers suggests a shift in user behavior that Trade Desk could capitalize on. Martin also notes the difference in traffic quality between desktop and mobile platforms, with desktop showing a higher presence of chatbots. This suggests an opportunity for Trade Desk to enhance its targeting and ad delivery strategies, ultimately supporting her Buy recommendation.
In another report released on September 30, Citizens JMP also maintained a Buy rating on the stock with a $60.00 price target.