Trade Desk price target raised to $110 from $90 at Evercore ISI

Evercore ISI raised the firm’s price target on Trade Desk to $110 from $90 and keeps an Outperform rating on the shares after the Q4 print “came in above our optimistic expectations” in what the firm calls “a clean Beat & Raise quarter.” The results reaffirm the thesis that Brand ad spending headwinds the company faced in Q4 were due to the war and macro-related factors and were transitory and that Trade Desk continues to gain share and benefit from secular tailwinds, the analyst tells investors.