Breaking News
Investing Pro 0
Cyber Monday SALE: Up to 54% OFF InvestingPro+ CLAIM OFFER

The Trade Desk Inc. 'Remains a Must-Own Name' Following Investor Day

Stock Markets Oct 05, 2022 16:30
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters
 
TTD
-0.77%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
DIS
-3.22%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
NFLX
-1.53%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 

By Sam Boughedda

The Trade Desk Inc . (NASDAQ:TTD) held its 2022 investor day event on Tuesday. Following the event and comments from analysts, the company's shares are down more than 6% in Wednesday's session.

The company was said by Needham & Company analysts to have laid out its strong competitive position, accelerating growth drivers and rising barriers to entry.

The analysts, who have a Buy rating and $65 price target on The Trade Desk shares, said, "TTD reiterated their LT 40% EBITDA goal, but didn't add new 2022 or 2023 financial targets. Their primary focus was drivers of Open Internet ad growth and TTD's strategic position within that context."

Elsewhere, Stifel analysts, who have a Buy rating and $78 price target on the stock, stated that management highlighted similar market metrics as it has in the past, "with a particular focus on CTV, which the company believes is likely to hit an inflection point in 1Q23 as ad-based tiers from Netflix (NASDAQ:NFLX) and Disney+ (NYSE:DIS) will likely be in market by then."

"Management made a compelling case that Netflix and others will likely have to open their inventory to open bidding in order to hit the desired CPMs as presented in recent press (which means TTD is likely to gain access)," wrote the analysts. "Management reiterated its 40% long-term adj. EBITDA margin target, while also discussing its capital allocation options. We remain Buy rated with a $78 target."

Susquehanna analysts stated that the analyst day provided an in-depth overview of TTD's business, strategy and drivers.

"TTD remains a must-own name, driven by a multi-pronged, multi-year secular growth story," stated the analysts, who have a Positive rating and $95 price target on the stock. The key drivers – CTV (both US and international), shopper marketing, Solimar (and general technology leadership), international, and UID2 – continue to gain momentum, and we see significant upside ahead."

Finally, analysts at Raymond James, explained that topics of discussion at the investor day event skewed heavily toward product over financials.

"While not likely to change any minds in the near term (and avoiding discussion of near-term trends), the additional color on emerging opportunities and some of the more technical aspects of the platform was appreciated."

The Trade Desk Inc. 'Remains a Must-Own Name' Following Investor Day
 

Related Articles

What Happened To Polestar Stock Today?
What Happened To Polestar Stock Today? By Benzinga - Nov 28, 2022

Benzinga - Polestar Automotive (NASDAQ:PSNY) Holding (NASDAQ: PSNY) shares slid on Monday as several names with China exposure traded lower amid protests over the country's COVID...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email