Trade Desk (TTD) is Being Highly Favored by Hedge Funds, Here is Why

The Trade Desk Inc. (NASDAQ:TTD) is one of the 8 best advertising agency stocks to buy according to hedge funds.

On April 13, Mark Kelley from Stifel reduced the price target on The Trade Desk Inc. (NASDAQ:TTD) from $26 to $25. The analyst maintained his Hold rating on the stock, which still offers double-digit upside potential despite the downward price target revision.

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This valuation adjustment is mainly driven by a broader reassessment of prevailing market sentiment across the internet segment. The analyst systematically revised his baseline financial projections across his coverage scope to incorporate the potential macroeconomic implications of the Iran conflict.

Back on March 20, Mark Mahaney from Evercore ISI reduced the price target on The Trade Desk Inc. (NASDAQ:TTD) from $35 to $32, resulting in a revised upside potential of more than 42%. The analyst maintained an Outperform rating on the stock.

Mahaney said that Publicis Groupe S.A. (OTC:PUBGY) is no longer recommending TTD’s platform to clients amid an issue with its compliance and billing audit. He acknowledged that this has adversely affected the stock performance. However, he feels that the market reaction appears to be highly exaggerated. Nevertheless, The Trade Desk Inc. (NASDAQ:TTD) continues to be a highly favored advertising stock in the eyes of hedge fund managers.

The Trade Desk Inc. (NASDAQ:TTD) is the largest independent technology company offering cloud-based ad-purchasing solutions. It helps brands and advertising agencies to optimize their campaigns through data-driven digital content. Such content is compatible with different formats such as audio, video, display, and connected TV. It covers several media, including mobile & streaming devices, televisions, and PCs.

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