Trade Desk price target lowered to $101 from $145 at Loop Capital

Loop Capital analyst Rob Sanderson lowered the firm’s price target on Trade Desk (TTD) to $101 from $145 but keeps a Buy rating on the shares. The firm cites the company’s disappointing earnings and notes that valuation was high and a risk for the stock, adding that the first miss since IPO is rightfully causing investor concern and severe revaluation, the analyst tells investors in a research note. Loop adds however that there is no indication that the strong secular thesis has been disrupted, and if correct, believes that Trade Desk’s estimates will prove conservative.