Trade Desk Stock Jumps After Jefferies Upgrade

The stock is looking to snap a five-day losing streak

Deputy Editor
Jan 7, 2022 at 10:13 AM
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Trade Desk Inc (NASDAQ:TTD) stock is up 4.7% today to trade at $80.57, after an upgrade from Jefferies to "buy" from "hold," with a price-target hike of $5 to $105. The firm suggested that the Street's full-year forecast, which assumes 30% growth, is too conservative, and cited the company's partnership with Walmart (WMT) as well as other potential deals. 

Today's pop has TTD on track to break a five-day losing streak -- securing a bounce off the $76 level, with help from its 320-day moving average. Year-over-year, the equity is up 6.9%. 

The majority of analysts are bullish toward Trade Desk stock, with 12 of the 16 in coverage now carrying a "buy" or better rating, and four a "hold" or worse. Plus, the 12-month consensus price target of $95.50 is a roughly 20% premium to current levels. 

It's also worth pointing out that TTD ranks high on the Schaeffer's Volatility Scorecard (SVS), with a score of 98 out of 100. This means the stock has exceeded option traders' volatility expectations during the past year.



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