12:45 AM EDT, 05/09/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We maintain our 12-month target at $100, on a P/E of 53.5x our '25 view, above peers but within its 10-year historical forward average. We keep our above consensus '24 EPS at $1.56 and '25 at $1.87. TTD posts Q1 EPS of $0.26 vs. $0.23, beating the $0.22 consensus. Sales grew 28% in Q1 (accelerating from +23% in Q4), driven by an improving digital ad landscape along with rising adoption for UID2. Q2 revenue guide of at least $575M implies a still robust 24% Y/Y growth pace, as we expect TTD's AI-driven platform to gain traction with advertisers across the connected TV space. Although we like EBITDA margin expansion (33% from 28%), we think shares already reflected revenue/margin upside given beats from bigger industry players. We are positive on prospects and expect TTD to be a share taker while the presidential election remains a tailwind. We see a slew of drivers supporting +20% growth ahead including rising CTV supply, international expansion, retail media momentum, UID2, and AI platform upgrades (Kokai).