Evercore ISI sees ‘Beat and Bracket’ Q4 for Trade Desk amid muted expectations

Evercore ISI says that based on intra-quarter data points and very recent CPG channel checks, as well as the firm’s model sensitivity analysis, Trade Desk (TTD) will likely print a modest “Beat and Bracket” Q4, though with greater upside than downside variance in terms of the Q1 guide. Given a 33% year-to-date drawdown in the stock, Evercore believes expectations are likely muted and reiterates its near-term TAP Outperform call on the stock, as well as an Outperform rating and $70 price target on the shares.