Trade Desk gets Street-high price target from Stifel

|About: The Trade Desk (TTD)|By:, SA News Editor

The Trade Desk (NASDAQ:TTD) is up 1.1% premarket after Stifel bumped its price target to a Street high, of $97.

That's up from its previous target of $75 and implies 12% upside.

The company's momentum should keep going through the year, analyst John Egbert says, amid greater mobile ad penetration, increased data uptake, platform enhancements, connected TV inventory growth and international expansion. Its "ad-tech discount" seems to be going away as investors look more toward "SaaS-like" multiples, he says. (h/t Bloomberg)

Shares are up 89.3% in 2018, largely due to their past month (up 69.9%).

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