RBC Capital Reiterates Outperform on The Trade Desk, Inc. (TTD) Following Strong 3Q
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RBC Capital maintained an Outperform rating and $33.00 price target on The Trade Desk, Inc. (NASDAQ: TTD) following the company's 3Q earnings report. Revenue of $53.0MM beat the Street's estimates of $49.1MM with the company highlighting greater than expected election ad spend and a slight boost from the Olympics in August.
Analyst Mark Mahaney commented, "TTD posted a very strong first quarter as a public company, with Q3 results handily beating street expectations (driven by election ad spending + Olympics boost) and Q4 guidance largely in-line with expectations. We continue to believe TTD is in a unique position with robust revenue growth and sustained GAAP profitability. Reiterate Outperform and $33 PT."
Shares of The Trade Desk closed at $23.43 yesterday.
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Related EntitiesRBC Capital, Earnings, Mark Mahaney
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