Benzinga - The Trade Desk (NASDAQ: TTD) reported better-than-expected Q4 results and issued Q1 revenue guidance above estimates. The company also announced a $700 million buyback.
Trade Desk reported fourth-quarter revenue growth of 24% year-over-year to $490.7 million, marginally beating the consensus of $490.5 million. Adjusted EPS of $0.38 beat the consensus of $0.36.
Trade Desk expects revenue of at least $363 million, higher than the consensus of $360.9 million.
Trade Desk shares jumped 32.8% to close at $66.30 on Wednesday and lost 0.5% in today’s pre-market trading.
These analysts made changes to their price targets on Trade Desk following the release of results.
- DA Davidson raised the price target on Trade Desk from $56 to $76. DA Davidson analyst Tom White maintained a Buy rating.
- Keybanc boosted the price target on Trade Desk from $55 to $72. Keybanc analyst Justin Patterson maintained an Overweight rating.
- Needham increased the price target on Trade Desk from $65 to $68. Needham analyst Laura Martin maintained a Buy rating.
- Oppenheimer raised the price target on Trade Desk from $60 to $75. Oppenheimer analyst Jason Helfstein maintained an Outperform rating.
- Credit Suisse raised the price target on Trade Desk from $74 to $76. Credit Suisse analyst Youssef Squali maintained a Buy rating.
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