Wells Fargo Reiterates Overweight Rating on The Trade Desk (TTD)

Wells Fargo analyst Brian Fitzgerald reiterated an Overweight rating and $115.00 price target on The Trade Desk (NASDAQ: TTD).

The analyst commented, "NFLX annc'd opening to TTD programmatic demand; summer '24 timing a +ive surprise, in our view. We view as: 1) augmenting TTD's robust 2H catalyst path; 2) further driving UID2/RSI network effects; 3) placing add'l pressure on remaining hold-outs."

"As another domino falls, TTD will tap into CTV pubs driving ~82% of U.S. CTV viewership (per Nielsen) and vast majority of premium AVOD/SAVOD. In our view, TTD emerging as a network effects-driven, 2/3-sided (advertiser/publisher/retailer) platform, as UID2/RSI drive increasing value to network members as network size increases. Conversely, we see increasing multi-homing costs (along w/ increased regulatory scrutiny) on horizon for remaining hold-outs."

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 $90.25 yesterday.

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