Trade Desk Gets Price Target Bumps By Analysts After Upbeat Q4 Earnings

The Trade Desk 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.

Check This Out: Top 5 Tech Stocks That May Crash In February