The Trade Desk, Inc. shares have surged Thursday following positive analyst coverage from RBC Capital.
RBC Capital analyst Matthew Hedberg maintains The Trade Desk with an outperform and raises the price target from $77 to $85, citing optimism surrounding the company's new CFO Laura Schenkein.
Schenkein's predictions and guidance have met 26 out of 27 quarters since TTD went public, he said.
She has been employed in the company for a number of roles, which gives her an operational advantage.
The company is focusing on its international business, forward market products and small and medium-sized businesses.
Increasing interest in joint business plans aligns with themes we've heard about ad spend optimization but also creates more revenue visibility, Hedberg said.
The RBC analyst said that he came away from his conversation with Schenkein feeling comfortable with the macro side of the business and more confident in the company's growth prospects.
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TTD price action: Shares of TTD rose 4.62% at $73.32 at the time of release, according to Benzinga Pro.