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Trade Desk stock soars as analysts hike price targets after earnings

Shares of ad-tech corporate The Trade Desk Inc. TTD, +43.39% are up 39% in Friday morning buying and selling after the corporate beat profits estimates by way of an enormous margin and analysts hiked their worth targets at the inventory. Of the 12 analysts who duvet the inventory, in keeping with FactSet, all fee it a buy and all raised their targets after Thursday afternoon's effects. "While the company continued to invest heavily into future growth areas, it was able to post significant EBITDA upside, demonstrating its highly scalable business model," Needham analyst Kerry Rice wrote. "We believe TTD is well positioned to outpace industry growth and continue expanding market share. Rice increased his price target to $75 from $66. Oppenheimer's Brian Schwartz wrote that the company managed to post better-than-expected "61% earnings expansion towards one of the crucial difficult comparisons in its history." He larger his goal to $76 from $66. TTD stocks are up 83% during the last 12 months, whilst the S&P 500 SPX, +zero.17% has received 14%.