The Trade Desk (NASDAQ: TTD) stock rose 2% in pre-market trading on Friday, following a vote of confidence from Stifel analysts who maintained their Buy rating and a $122.00 price target on the shares.
The endorsement comes as The Trade Desk focuses on strengthening its leadership team, particularly by filling its vacant Chief Operating Officer (COO) position, which is critical to its growth.
The company has been operating without a COO for over a year. The role was last held by Michelle Hulst, who transitioned out of the position in February 2022 to become a Strategic Advisor at GumGum, an advertising technology firm.
Stifel emphasized the importance of the COO position for The Trade Desk (NASDAQ: TTD) expansion plans. With the company scaling up, analysts see filling this leadership gap as a key move to meet rising market demands.
In its latest earnings call, the management team echoed this sentiment, emphasizing that hiring senior leadership—especially a COO—is a top priority to support the company’s growth and maintain operational stability.
Stifel also expressed optimism about the incoming COO, Vivek Kundra, commending his impressive background. Kundra previously served as Chief Information Officer (CIO) for the U.S. government, where he managed an $80 billion cloud budget—a credential that analysts find promising.
The analysts believe his experience could help drive The Trade Desk’s next growth phase, particularly in expanding Connected TV (CTV), an area where his expertise might prove valuable.
