Analysts Maintain Hold Ratings on The Trade Desk, Inc. (TTD) on Broader Macroeconomic Concerns

The Trade Desk, Inc. (NASDAQ:TTD) is one of the best beaten down stocks to invest in according to analysts. On December 11, Jefferies analyst James Heaney, CFA, reiterated a Hold on Trade Desk with a $40 target. Needham analyst Laura Martin reiterated a Buy rating on the stock on December 11 and maintained a $60 price target.

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The analyst remains cautious about the stock after a significant decline, attributed to communication missteps and broader macroeconomic concerns. However, the analyst has downplayed the impact of the average decrease in traffic among AdTech companies, insisting the company’s exposure to search traffic is minimal.

While recent data from ComScore suggests significant growth in desktop search queries, the analyst is confident in Trade Desk’s ability to mitigate some of the adverse effects of AI-driven changes in the advertising sector. Additionally, resilience in search traffic, coupled with strategic positioning, also strengthens Trade Desk’s ability to navigate the challenging landscape.

Earlier on December 5, Citi analyst Ygal Arounian reiterated that Trade Desk is a Hold and set a $50 price target. A Wedbush analyst also echoed similar sentiments, reiterating a Hold rating on the stock on December 8 with a $40 price target.

The Trade Desk, Inc. (NASDAQ:TTD) provides a self-service, cloud-based platform for advertisers to buy and manage data-driven digital ads across various channels. It helps marketers plan, target, and execute complex, omnichannel campaigns on the open internet.

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Disclosure: None. This article is originally published at Insider Monkey.