Trade Desk Gets Price Target Bumps By Analysts Following Upbeat Sales; Shares Jump

The Trade Desk TTD reported better-than-expected sales results for its second quarter and issued strong sales guidance for the third quarter.

Trade Desk expects revenue of at least $385 million vs. consensus of $382.58 million and adjusted EBITDA of $140 million.

Trade Desk shares jumped 17% to $63.78 in pre-market trading.

Several analysts made changes to their price targets on Trade Desk today.

• Keybanc boosted the price target on Trade Desk from $52 to $70. However, Keybanc analyst Justin Patterson maintained Trade Desk with an Overweight.
• DA Davidson raised Trade Desk’s price target from $65 to $70. However, DA Davidson analyst Tom White maintained a Buy rating on the stock.
• Needham increased the price target on the stock from $55 to $65. However, Needham analyst Laura Martin a Buy rating on the stock.
• Oppenheimer raised the price target from $60 to $78. However, Oppenheimer analyst Jason Helfstein maintained an Outperform rating on the stock.