KeyBanc raised the firm’s price target on Trade Desk to $130 from $115 and keeps an Overweight rating on the shares. The firm’s checks suggest the ad market remained solid in Q3. Coupled with more favorable movements in several key currencies, KeyBanc expects to see upside to Street revenue and profitability forecasts at Trade Desk. While the firm doubts companies guide aggressively into Q4 amid macro instability and a shorter holiday selling season, it believes product cycles at Trade Desk will likely sustain solid growth into 2025.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on TTD:
- Trade Desk price target raised to $120 from $108 at Truist
- Lake Street reiterates Buy on Magnite, sees ‘no change’ to Disney relationship
- Magnite share weakness following podcast comments overdone, says B. Riley
- Needham says market reaction ‘overdone,’ recommends buying Magnite
- Old headline presents ‘new opportunity’ to buy Magnite shares, says Benchmark