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VENTURA, Calif. - The Trade Desk, Inc. (NASDAQ:TTD), an advertising technology company, will be added to the S&P 500 Index effective at the opening of trading on Friday, July 18, according to a company press release.
The S&P 500 Index includes 500 leading companies and covers approximately 80% of available U.S. market capitalization, serving as a benchmark for large-cap American equities.
"Our inclusion in the S&P 500 is testament to the value and innovation we have delivered to the digital advertising industry since our founding, 16 years ago," said Jeff Green, Co-Founder and CEO of The Trade Desk.
The Trade Desk provides a self-service, cloud-based platform that allows advertising buyers to create and manage digital advertising campaigns across various formats and devices. The company is headquartered in Ventura, California, with offices across North America, Europe, and Asia Pacific.
Inclusion in the S&P 500 typically increases a company’s visibility to investors and may lead to greater trading liquidity, as many index funds and institutional investors track the performance of the S&P 500.
The announcement comes as part of the regular rebalancing of the index, which periodically adds and removes companies based on specific criteria including market capitalization, liquidity, and financial viability.
In other recent news, The Trade Desk has been the subject of several analyst updates and strategic developments. KeyBanc raised its price target for The Trade Desk to $95, maintaining an Overweight rating, and expects the company to report revenue of at least $691 million, with third-quarter guidance around $715 million. CFRA also increased its price target from $82 to $110, maintaining a Buy rating, noting that The Trade Desk will join the S&P 500 index, replacing Ansys. This inclusion is expected to enhance investor sentiment and attract more institutional investments.
BMO Capital reiterated its Outperform rating with a $115 price target, dismissing concerns about competition from Amazon DSP and highlighting the potential of The Trade Desk’s Kokai platform to drive future ad spending. Citi raised its price target to $90, citing a media buyer survey that underscored The Trade Desk’s strong market position and leadership in demand-side platforms. The Trade Desk’s recent inclusion in the S&P 500 is anticipated to provide increased visibility and liquidity, marking a significant milestone for the company.
KeyBanc also noted the recent departure of executive Tim Sims and plans to seek clarity on leadership expansion during the upcoming earnings call. Meanwhile, Citi opened a positive 90-day catalyst watch on The Trade Desk shares, suggesting potential upside to guidance and consensus estimates ahead of the company’s second-quarter earnings report.
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