The Trade Desk Stock: Headed to $100?
Following The Trade Desk's (NASDAQ: TTD) astronomical 85% year-to-date gain, analysts seem split on their views for the stock recently. Several analysts recently argued that the stock's sky-high valuation after the run-up represents a good opportunity to sell and take profits. But financial firm Piper Sandler recently raised its 12-month price target for the stock from $77 to $100. In addition, the firm reiterated that the tech stock remains its top large-cap investment idea.
Let's examine why Piper Sandler is so bullish, even as some analysts are advising shareholders to sell and move on.
Shares of The Trade Desk could appreciate more than 20% over the next 12 months, according to Piper Sandler. Justifying the firm's aggressive price target, it cited broader-market advertising and consumer spending trends holding up better-than-anticipated recently, despite a tough macroeconomic environment. In addition, the firm expects improving profitability in the second half of the year to be a key driver for the stock.
Source Fool.com
