Why Wedbush is bullish on The Trade Desk's growth potential

Wedbush Securities News

Why Wedbush is bullish on The Trade Desk's growth potential
The Trade DeskScott DevittYahoo
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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...

, 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.

In addition to that retail media is becoming an increasing portion of the online advertising industry. But what's happened over the past, you know, 10 to 15 years has been this transition from guessing with advertising to increasingly having a real time programmatic advertising where advertisers are bidding and content owners are pricing inventory properly and meeting in an online exchange.And trade desk is the leading provider of that.

But you, you must think valuation still attractive here, Scott, it's high, it's, it's, um, it's, you know, similar to history, but I wouldn't call it a bargain at current prices.Interestingly, many don't think of it this way.And when you look at trade desk relative to a Shopify, it's faster growth, it's a significantly higher margin business and it trades um Shopify trades about a 30% premium.It trades at a meaningful discount on an absolute basis.

Like Amazon providing their own a demand side platform for their retail media inventory to third party advertisers and many retailers that don't have the capacity to do that like Walmart that are actually partnering with companies like trade desk to provide that service for them, Scott.I think on, on all three if I, if I asked you Scott though to pick one?

Expanding the online advertising business is approaching 60 billion and growing twice the rate of overall a industry online and the web services business is making a recovery where you're comping some of the reduction in activity from last year and say aws throughout the remainder of this year will accelerate as well.Canadian investors can hold undervalued TSX dividend stocks in a TFSA and benefit from outsized gains 2024 and beyond.

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