The Trade Desk price target raised to $259 from $249 at TD Cowen

Investing.com - TD Cowen has raised its price target on The Trade Desk (NASDAQ:TTD) to $259.00 from $249.00 while maintaining a Buy rating on the stock. The company, currently trading at $88.33, maintains excellent financial health according to InvestingPro analysis, with a "GREAT" overall score.

The price target increase follows what the firm described as a quarter that exceeded expectations, with Q1:F26 bookings reported well above the top of the guidance range. The company’s strong performance is reflected in its impressive 25% year-over-year revenue growth and robust 80% gross profit margin.

TD Cowen noted that The Trade Desk’s performance was bolstered by "a very big quarter at mobile" along with "continued strong performance by NBA 2K."

The firm pointed out that forward guidance from The Trade Desk implies a major slowdown in the mobile segment, which TD Cowen suspects may be conservative.

TD Cowen reiterated its Buy rating and top pick status for The Trade Desk stock, basing the new $259 price target on 20x FY28 adjusted EBITDA.

In other recent news, The Trade Desk reported second-quarter results that exceeded Wall Street’s formal estimates, though they did not meet higher buy-side expectations. This mixed performance led several research firms to adjust their outlooks on the company. MoffettNathanson downgraded The Trade Desk from Neutral to Sell, citing valuation concerns and reducing its price target significantly to $45.00. Similarly, Piper Sandler lowered its price target to $64.00 while maintaining a Neutral rating, pointing to results that were slightly above consensus but below buy-side expectations.

Raymond (NSE:RYMD) James reiterated its Market Perform rating, noting the company’s third-quarter guidance, which disappointed some investors due to seasonal softness and revenue deceleration. DA Davidson maintained a Buy rating, despite lowering its price target to $80.00, acknowledging "decent upside" in revenue and EBITDA. Stifel also reduced its price target to $90.00, attributing the adjustment to tariff pressures, while maintaining a Buy rating. These developments highlight the varied responses from analysts following The Trade Desk’s recent financial performance.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.