Citi Reaffirms Buy on Trade Desk (TTD), Cites Strong CTV Trends and Ad Spend

The Trade Desk, Inc. (NASDAQ:TTD) ranks among the 20 best fast growth stocks to invest in. Citing its status as a top independent demand-side platform, Citi reiterated its Buy rating and price target of $90 on The Trade Desk, Inc. (NASDAQ:TTD) on July 1.

Citi put The Trade Desk, Inc. (NASDAQ:TTD) on a 90-day positive catalyst watch in anticipation of the company’s second-quarter earnings announcement, noting indications of healthy connected TV (CTV) trends and increased ad expenditure. The investment firm stated that following talks at the Cannes Lions advertising festival, it left with a “incrementally more positive” perspective, implying that macro conditions have leveled off since Trade Desk released Q2 expectations in early May.

Citi recognized that investors had reservations regarding competition from Amazon’s DSP, though it added that The Trade Desk, Inc. (NASDAQ:TTD) remains unique and that the programmatic ad industry is big enough to accommodate several players.

The Trade Desk, Inc. (NASDAQ:TTD), a leading supplier of advertising technology, specializes in offering advertising solutions to digital marketers. Advertisers may plan, manage, and optimize their digital ad campaigns across various platforms and channels using its self-service, transparent software and cloud-based platform.

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