Trade Desk price target lowered to $40 from $65 at RBC Capital

RBC Capital analyst Matthew Swanson lowered the firm’s price target on Trade Desk (TTD) to $40 from $65 and keeps an Outperform rating on the shares. The company delivered an in-line Q4 with a skinny beat and strong profitability but Q1 guidance was below expectations as Consumer Packaged Goods and Auto verticals continue to weigh on revenue growth, the analyst tells investors in a research note.