Alphabet’s YouTube strength ‘favorable’ for Trade Desk, says JMP Securities

Alphabet’s (GOOGL) Q4 results featured revenue that was in line with consensus estimates and operating income that was 2% above consensus, JMP Securities tells investors in a research note. Search and YouTube both accelerated in the quarter as the advertising environment appears healthy and political contributed to results, the firm says. JMP believes Google continues to cede share across its open web AdTech business, which the firm views favorably for Trade Desk (TTD). JMP made no change to its Market Perform rating on Alphabet and has an Outperform rating and $150 price target on Trade Desk.