William Blair analyst Ralph Schackart has maintained their bullish stance on TTD stock, giving a Buy rating on November 4.
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Ralph Schackart has given his Buy rating due to a combination of factors including The Trade Desk’s impressive revenue growth and strong customer retention. The company’s revenue, excluding political contributions, increased by 22% year-over-year, surpassing the 20% growth rate that investors typically focus on. This growth was particularly strong in sectors such as medical health, automotive, and technology, although some advertising verticals like CPG and retail faced challenges. Additionally, customer retention remained exceptionally high at over 95%, a consistency maintained for over a decade.
Another factor influencing the Buy rating is the company’s strategic share repurchase program, where $370 million worth of stock was bought back in the third quarter, with an additional $500 million authorized for future repurchases. Product innovations also played a significant role, with new offerings like Kokai and OpenPath showing substantial improvements in performance metrics compared to previous products. The company’s quarterly results further bolster confidence, with revenue and adjusted EBITDA exceeding market expectations, driven by strong international growth and robust performance in North America.
In another report released on November 4, Evercore ISI also maintained a Buy rating on the stock with a $80.00 price target.
Based on the recent corporate insider activity of 61 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of TTD in relation to earlier this year.