Shares of Trade Desk Inc. (NASDAQ: TTD) are surging 5.07% in intraday trading, as investors eagerly await the company's first-quarter earnings report scheduled for release after the market close. The significant uptick comes amidst a backdrop of generally positive analyst sentiment, despite some recent price target adjustments.

The Ventura, California-based advertising technology company is expected to report quarterly earnings of 25 cents per share, slightly down from 26 cents per share in the year-ago period. Revenue projections stand at $575.28 million, marking a substantial increase from $491.25 million reported a year earlier.

Wall Street analysts have recently reaffirmed their bullish stance on Trade Desk, with several maintaining "Buy" ratings despite some downward revisions in price targets. Notably, Rosenblatt analyst Barton Crockett initiated coverage with a "Buy" rating and a $77 price target on April 29. Other prominent analysts from Stifel, Needham, Morgan Stanley, and Truist Securities have also reiterated their positive outlook on the stock, albeit with adjusted price targets ranging from $60 to $95.

The strong pre-earnings rally suggests that investors are optimistic about Trade Desk's performance and growth prospects in the competitive digital advertising landscape. As the market awaits the official earnings release, the stock's movement reflects confidence in the company's ability to navigate challenges and capitalize on opportunities in the evolving ad tech sector.