Trade Desk price target lowered to $22 from $27 at Jefferies

Jefferies lowered the firm’s price target on Trade Desk (TTD) to $22 from $27 and keeps a Hold rating on the shares. Results “disappointed” as a Q4 revenue beat was smaller than typical and Q1 revenue was guided up 10% year-over-year, below the Street’s 12% growth forecast, the analyst tells investors. Q1 margin was guided toward about a 500 basis point year-over-year decline, which suggests margin step-ups through the course of FY26 and reinforces the bear case around competitive pressure, the analyst added.