Needham & Company Starts The Trade Desk (TTD) at Buy
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Needham & Company initiates coverage on The Trade Desk (NASDAQ: TTD) with a Buy rating and a price target of $32.00.
Analyst Kerry Rice commented, "We are initiating on The Trade Desk with a Buy and $32 target. Given its strong position with agency holding companies and agencies, we believe the company’s ad-buying platform powers the majority of programmatic advertising spend for many of world’s largest advertisers. The platform not only enables media buyers to manage, execute, optimize, and evaluate their advertising campaigns across channels and formats, but its unique bid-factor architecture also drives better targeting, pricing and campaign results than a line-based approach, in our opinion. The company's technology, buy-side focus, and exceptional client support has helped it capture, retain, and increase its market share with advertisers. Financially, we view the company as a rare breed in ad tech with both high growth and solid profitability."
Shares of The Trade Desk closed at $26.36 yesterday.
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