William Blair analyst Ralph Schackart has maintained their bullish stance on TTD stock, giving a Buy rating on May 2.
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Ralph Schackart has given his Buy rating due to a combination of factors influencing The Trade Desk’s performance. The company has shown promising signs with its recent strategic upgrades, which are expected to help it outperform the market by delivering relevant products to its clients. A significant factor is the rapid adoption of their core product, Kokai, which is ahead of schedule with two-thirds of clients already using it. Kokai has demonstrated impressive results, including a reduction in unique reach and lower costs for conversion and acquisition, while utilizing more data elements per impression.
Additionally, The Trade Desk’s organizational changes, such as hiring a new COO and restructuring its processes, have positively impacted its operations. The engineering department’s focus on weekly product shipping and the synchronization between business and product teams have streamlined their go-to-market strategies. The company’s strong quarterly results, with a 25% year-over-year revenue growth, further support the Buy rating, as these were driven by the successful adoption of Kokai.
In another report released on May 2, RBC Capital also maintained a Buy rating on the stock with a $85.00 price target.