The Trade Desk’s (NASDAQ:TTD) stock got a boost on Friday, ticking up by about 5% at the time of writing after analysts from BTIG, which are led by Clark Lampen, upgraded the stock from Hold to Buy while assigning a price target of $103. The BTIG team sees a more promising fundamental setup for the firm, which they believe could result in stronger performance this year, and even speedier growth coupled with an improved margin in the future.
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In addition, observations suggest that the programmatic market is expanding at a yearly rate of about 20-25%, thanks to a sustained reallocation of ad budgets towards more efficient digital formats and a rising percentage of that digital ad expenditure (excluding search/social) becoming automated. The Trade Desk is well-placed to meet or even surpass the upper limit of this growth range, the analysts suggest.
What is the Target Price for TTD stock?
Overall, analysts have a Moderate Buy consensus rating on TTD stock based on 15 Buys, four Holds, and three Sells assigned in the past three months, as indicated by the graphic above. Nevertheless, the average price target of $79.06 per share implies 12.2% downside risk.