Wedbush Securities initiated coverage on The Trade Desk (TTD), giving the company an Outperform rating and a price target of $110. The firm cites the company’s ability to grow in the digital advertising space.
Wedbush Securities equity research managing director Scott Devitt joins Market Domination to explain why he is bullish on The Trade Desk.
"Trade Desk is the leading independent demand-side platform. The largest competitors actually are probably Google (GOOG), Yahoo still in that business, Microsoft (MSFT) and Amazon (AMZN) has a growing DSP business as well. But what’s happened over the past 10 to 15 years has been this transition from guessing with advertising to increasingly having real-time programmatic advertising, where advertisers are bidding and content owners are pricing inventory properly and meeting in an online exchange. And that to us is going to increase as a proportion of the overall industry going forward," Devitt tells Yahoo Finance.
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