Trade Desk (TTD – Research Report), the Technology sector company, was revisited by a Wall Street analyst today. Analyst James Heaney CFA from Jefferies maintained a Buy rating on the stock and has a $120.00 price target.
James Heaney CFA has given his Buy rating due to a combination of factors that highlight Trade Desk’s strong market position and growth potential. One of the key reasons is the company’s ability to maintain a stable take rate of 20%, demonstrating consistent performance in its revenue model. Additionally, the increase in the number of third-party data vendors from 250 to 350 signifies a positive trend for revenue growth, as it enhances the platform’s data capabilities.
Another significant factor is the expansion of ad inventory sources, which grew from 140 to 220, indicating a robust supply growth that serves as a leading indicator for increased gross spend. Furthermore, the company’s strategic focus on supply path optimization, which involves consolidating spend with a smaller list of high-quality suppliers, is expected to streamline the advertising supply chain and improve efficiency. These elements collectively support the Buy rating, as they suggest a promising outlook for Trade Desk’s future performance.
In another report released on February 20, Loop Capital Markets also maintained a Buy rating on the stock with a $101.00 price target.