The Trade Desk, Inc. TTD shares are rising Thursday following positive analyst coverage from RBC Capital.
What Happened: RBC Capital analyst Matthew Hedberg maintained The Trade Desk with an Outperform and raised the price target from $77 to $85, citing optimism surrounding the company’s new CFO Laura Schenkein.
Schenkein has played an integral role in forecasts and guidance (which the company has met 26 out of 27 quarters) since TTD went public, the analyst said.
Additionally, she has worked a number of roles during her time at the company, which gives her an operational advantage.
Moving forward, the company is focused on its international business, forward market products and small and medium sized businesses.
“Increasing interest in joint business plans aligns with themes we’ve heard around ad spend optimization but also creates more revenue visibility,” Hedberg said.
The RBC analyst noted that he came away from his conversation with Schenkein feeling comfortable with the macro side of the business and more confident in the company’s growth opportunities.
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TTD Price Action: Shares of TTD were up 4.62% at $73.32 at the time of publication, according to Benzinga Pro.
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