Truist Securities Reiterates Buy Rating on The Trade Desk (TTD); 'Selling Overdone'

Truist Securities analyst Youssef Squali reiterated a Buy rating and $130.00 price target on The Trade Desk (NASDAQ: TTD).

The analyst commended: "Selling Overdone; Checks with Media Buyers Show Frustration with Kokai but TTD Remains Favorite DSP; Concerns about slower rollout of Kokai, a larger sales/engineering reorg. and fear of AMZN have caused TTD to drop 50%+ since earnings on 2/12 (vs. S&P -7%). We find the selling overdone believing that 1) Kokai's issues are temporary not structural with adoption ramping up quickly; 2) ad buyers we've spoken to shared that advertisers that have migrated over 10% of their spend to Kokai saw 20%+ better performance, and that TTD remains one of their favorite DSPs; 3) AMZN's DSP is a rising star and a threat to incumbents but TTD can succeed alongside it given its strong ROAS performance, cross channel capabilities, independence and service."

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 $53.94 yesterday.

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