The Trade Desk ‘well aligned with ongoing trends’ – Baird

Baird analysts started coverage of The Trade Desk, Inc. (NASDAQ:) with an Outperform rating and $88 per share price target in a note Friday.

The analysts told investors that TTD is one of three names they believe is well aligned with ongoing trends in the advertising industry.

In addition, they expect it to benefit from “high-quality product offerings, robust profitability profiles, and other company-level drivers.”

As well as broader industry tailwinds, Baird sees TTD benefitting from drivers, including the recent innovation around Kokai and ongoing progress with OpenPath, “which should help enhance the value of the platform.”

Furthermore, they expect it to benefit from “progress on expanding into international regions, which represent a much higher portion of industry spend compared to TTD’s current business mix.”