KeyBanc lowered the firm’s price target on Trade Desk (TTD) to $35 from $40 and keeps an Overweight rating on the shares. Last week’s AdTech reports reinforced that AdTech is becoming more cyclical, the firm says. Trade Desk’s decelerating gross spend growth will raise questions on macro vs. competitive impacts, but KeyBanc would argue this is now priced in.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on TTD:
- Trade Desk price target lowered to $28 from $50 at Piper Sandler
- Evolving Impression Standards Raise Operational and Reputational Risks for The Trade Desk
- Trade Desk call volume above normal and directionally bullish
- Trade Desk price target lowered to $32 from $54 at DA Davidson
- Trade Desk Earnings Call: Profits Strong, Outlook Cautious