Trade Desk Gets Price Target Bumps By Analysts Following Upbeat Q1 Results

The Trade Desk TTD reported better-than-expected Q1 results and issued strong Q2 guidance.

Trade Desk posted quarterly earnings of $0.23 per share, beating market expectations of $0.12 per share. The company’s quarterly sales came in at $383.00 million versus estimates of $364.51 million.

Trade Desk said it sees Q2 revenue of $452 million, versus expectations of $445.4 million.

Trade Desk shares jumped 3.7% to $67.34 in pre-market trading.

These analysts made changes to their price targets on Trade Desk following earnings announcement.

• Keybanc raised the price target on Trade Desk from $72 to $75. Keybanc analyst Justin Patterson maintained an Overweight rating.
• Oppenheimer increased the price target on Trade Desk from $75 to $80. Oppenheimer analyst Jason Helfstein maintained an Outperform rating
• Morgan Stanley raised price target on Trade Desk from $58 to $60. Morgan Stanley analyst Matthew Cost maintained an Equal-Weight rating on the stock.
• Needham raised price target on Trade Desk from $68 to $75. Needham analyst Laura Martin maintained the stock with a Buy rating.
• RBC Capital boosted Trade Desk price target from $75 to $77. RBC Capital analyst Matthew Hedberg maintained the stock with an Outperform.
• Truist Securities increased Trade Desk price target from $76 to $78. Truist Securities analyst Youssef Squali maintained the stock with a Buy.

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