The Trade Desk cleans up; DraftKings 'stronger than ever': 5 big analyst picks
Investing.com — Here is your Pro Recap of the biggest analyst picks you may have missed today: Buy initiations at The Trade Desk, and upgrades at DraftKings,) shares rose more than 3% in recent trading after two Wall Street firms started the company at Buy, as reported in real time onLoop Capital started coverage of the company with a Buy rating and a price target of $95.00, writing that The Trade Desk as one of the best long-term growth opportunities available to technology and media investors.
Similarly, Cantor Fitzgerald initiated coverage on the company with a Buy rating and a price target of $95.00.The analysts noted that, in the fantasy sports contest company has delivered on accelerating"its path to profitability by strategically cutting back on expenses while still investing behind its long-term competitive advantages," as CEO Robert Fishman had laid out in his fourth quarter 2022 letter to shareholders.
The revised price target of $53 is based on 8.5x 2024 revenue, aligning with Klaviyo's present multiple.
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