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Investing.com - Stifel raised its price target on The Trade Desk (NASDAQ:TTD) to $95.00 from $87.00 on Tuesday, while maintaining a Buy rating on the stock. The digital advertising technology company, currently valued at $39.3 billion, has demonstrated strong momentum with a 25% year-over-year revenue growth. According to InvestingPro analysis, the company’s overall financial health score is rated as "GREAT."
The investment firm’s decision comes ahead of The Trade Desk’s upcoming earnings report on August 7, which Stifel expects will show upside to second-quarter numbers and a slightly improved guidance. InvestingPro data reveals analyst targets ranging from $47 to $135, with 12 additional exclusive insights available to subscribers.
Stifel noted that agency commentary around adoption of The Trade Desk’s Kokai platform has been largely positive, indicating strong market reception for the company’s latest technology offering.
The firm also addressed potential competitive threats, stating that commentary around competition from Amazon (NASDAQ:AMZN)’s demand-side platform (DSP) was minimal among industry participants.
According to Stifel, advertisers appear more focused on take rates net of total media costs rather than just technology fees, and it’s unlikely that many non-endemic Amazon brands will look to switch platforms.
In other recent news, The Trade Desk is set to join the S&P 500 Index, effective at the opening of trading on July 18. This inclusion marks a significant milestone for the company as it enters a benchmark index comprising 500 leading companies. KeyBanc has raised its price target for The Trade Desk to $95, maintaining an Overweight rating, and anticipates the company will report revenue of at least $691 million, with third-quarter guidance expected around $715 million. CFRA has also increased its price target to $110 from $82, maintaining a Buy rating, following the announcement of The Trade Desk’s inclusion in the S&P 500. BMO Capital reiterated its Outperform rating with a $115 price target, dismissing concerns about competition from Amazon DSP. JMP Securities maintained a Market Outperform rating with a $100 price target, despite noting slowing organic revenue growth in the consumer packaged goods sector. These developments highlight continued confidence from analysts in The Trade Desk’s growth prospects.
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