Why The Trade Desk Stock Traded Higher Today
Shares of The Trade Desk (NASDAQ: TTD) are trading higher today, up by 9% as of 1:10 p.m. EST, after two Wall Street analysts increased their respective price targets on the stock. The tweaks to valuation estimates come ahead of The Trade Desk's third-quarter earnings release.
Stifel analyst John Egbert reiterated a hold rating on The Trade Desk shares while increasing his price target from $420 to $500 to reflect "a more optimistic outlook" regarding the advertising technology company's recovery once the COVID-19 pandemic has passed. The analyst believes that The Trade Desk's risk/reward profile in the short term is less compelling compared to peers in the digital media sector.
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Source Fool.com