Trade Desk price target raised to $76 from $56 at DA Davidson

DA Davidson analyst Tom White raised the firm’s price target on Trade Desk to $76 from $56 and keeps a Buy rating on the shares after its Q4 earnings beat and Q1 guidance. While the company saw a bit of ad spend softness in December as some marketers seemingly delayed ad budgeting and planning decisions in the face of the rising and uncertain interest rate and inflation picture, its revenue trends appear to have recovered strongly in Q1 with accelerating spend each of the past six weeks, the analyst tells investors in a research note.