Analyst Laura Martin from Needham maintained a Buy rating on Trade Desk and keeping the price target at $60.00.
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Laura Martin’s rating is based on a combination of factors that suggest a positive outlook for Trade Desk despite recent challenges. The company’s stock has experienced a significant decline, attributed to communication missteps and broader macroeconomic concerns, such as the potential impact of AI on traditional search and advertising models. However, Martin notes that the average decline in traffic among AdTech companies is relatively modest, and Trade Desk’s exposure to search traffic is minimal, suggesting limited economic impact from these trends.
Furthermore, recent data from comScore indicates that desktop search queries have continued to grow, which could mitigate some of the negative effects anticipated from AI-driven changes in the advertising ecosystem. This resilience in search traffic, coupled with the company’s strategic positioning, supports Martin’s confidence in Trade Desk’s ability to navigate the evolving landscape, justifying her Buy rating.
In another report released on December 9, TR | OpenAI – 4o also upgraded the stock to a Buy with a $43.00 price target.
Based on the recent corporate insider activity of 58 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of TTD in relation to earlier this year.