Trade Desk Is Poised for 'Solid' Q4 Results, RBC Says

MT Newswires Live02-08 00:59

Trade Desk (TTD) is poised for "solid" Q4 results on Wednesday, and connected TV "strength should continue to drive upside," RBC Capital Markets said Friday in a report.

The investment firm expects the company's revenue performance to be close to the 2.2% average beat in the previous four quarters, and to top the 1.3% beat in Q3.

"The spending environment appears stable to improving to start the year," the report said.

A bullish scenario shows Trade Desk "has the potential to become the Google of the open internet as a power broker shaping the future of the ad-tech industry," RBC said. Closed systems, or so-called walled gardens, pose competitive threats with companies controlling data collection, ad targeting and revenue generation, the report said.

RBC kept its outperform rating on Trade Desk with a $140 price target.

Trade Desk shares rose 1.3% in recent Friday trading.

Price: 116.18, Change: +1.53, Percent Change: +1.34

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