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Benchmark says Trade Desk has stronger advertiser base than Amazon DSP

Following the Amazon DSP (AMZN) and Roku (ROKU) partnership announcement this morning, Benchmark analyst Mark Zgutowicz says the “key question” is the relative exclusivity Roku may now offer Amazon relative to The Trade Desk (TTD). The firm, which notes that Trade Desk has a “substantially stronger advertiser base” relative to Amazon DSP, particularly given its “vastly superior open internet reach,” does not see significant implications in terms of lost Trade Desk advertiser share relative to Amazon DSP, unless Roku’s existing partnership agreement with Trade Desk has changed. Benchmark has a Hold rating on Trade Desk shares, which are up $2.83, or 4%, to $70.79 in morning trading.

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