The Trade Desk rises as William Blair starts with outperform rating
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The Trade Desk (NASDAQ:TTD) shares rose more than 1% in pre-market trading on Wednesday as investment firm William Blair initiated coverage on the advertising tech company with an outperform rating.
Analyst Ralph Schackart noted that the company is likely to grow revenue by about 23% in fiscal 2023 to $1.9B, with adjusted EBITDA margins of approximately 40%. Schackart believes it's the firm's "differentiated" platform offering that has allowed it to be so successful, as it focuses on transparency.

"[C]lients are able to see the costs of advertising inventory and data, the associated platform fees, and specific performance metrics for advertising campaigns," Schackart wrote in an investor note. "All clients are able to directly access and execute campaigns through the companyâs platform, while maintaining control over all facets of advertising inventory purchasing decisions. Clients are also able to receive real-time, detailed reporting on advertising campaigns that leverage The Trade Deskâs platform."


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