RBC Capital Reiterates Outperform on The Trade Desk, Inc. (TTD) Following Strong 3Q

November 11, 2016 7:08 AM EST
Get Alerts TTD Hot Sheet
Price: $29.79 +1.81%

Rating Summary:
    6 Buy, 0 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 24 | Down: 17 | New: 14
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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."

For an analyst ratings summary and ratings history on The Trade Desk click here. For more ratings news on The Trade Desk click here.

Shares of The Trade Desk closed at $23.43 yesterday.

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