Can The Trade Desk Keep Going After Last Week's 10% Pop?

Can The Trade Desk Keep Going After Last Week's 10% Pop?

The Trade Desk (NASDAQ: TTD) is reshaping the ad market, and it's also doing a pretty good job of reshaping portfolios. The Trade Desk stock moved 10% higher last week after SunTrust analyst Youssef Squali upgraded the stock from hold to buy. Shares of the fast-growing player in programmatic advertising have now nearly doubled in 2017, but Squali's move is actually more of a reaction to recent weakness in The Trade Desk.

The stock took a hit last month after offering up disappointing guidance for the fourth quarter. With shares kicking off last week 33% below October's all-time highs, Squali's decision to stick with his earlier $58 price target warranted the shift from neutral to bullish at current levels. It's not the ideal way to earn a nod from a Wall Street pro, but investors will take it as The Trade Desk wraps up its first full year as a public company.

Image source: The Trade Desk.

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Source: Fool.com