12 Best Cloud Stocks to Buy According to Wall Street Analysts

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4. The Trade Desk Inc. (NASDAQ:TTD)

Analyst Upside: 18.37%

Number of Hedge Fund Holders: 61

The Trade Desk, Inc. (NASDAQ:TTD) ranks among the best cloud stocks to buy according to Wall Street analysts. On June 17, BMO Capital reaffirmed its $115 price target and outperform rating on The Trade Desk, Inc. (NASDAQ:TTD). The update coincides with reports that Amazon and Roku had formed an exclusive partnership.

Through the collaboration, advertisers may leverage Amazon DSP to expand their connected TV (CTV) reach to almost 80 million CTV households in the United States. According to BMO, though there won’t be any changes to the direct relationship between Roku and The Trade Desk, Inc. (NASDAQ:TTD), investors may wonder how Roku’s inventory share might move from TTD to other demand-side platform channels.

The event was described by BMO as “potentially somewhat of a headline overhang for TTD,” though it reflects an expected move by Amazon to assist in replenishing Prime Video inventories.

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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