Trade Desk price target raised to $42 from $38 at Benchmark

Benchmark analyst Mark Zgutowicz raised the firm’s price target on Trade Desk to $42 from $38 and keeps a Sell rating on the shares ahead of the company reporting Q2 earnings later today. The firm’s Sell rating is still based on what it sees as “idiosyncratic challenges” coming in 2024, including Google’s upcoming Chrome cookie eradication and UID2’s lack of sponsorship that will leave “a gaping hole” in Trade Desk’s data graph, but it adds that it remains “hard-pressed to make any sense of the stock’s current value.”