BofA analyst Jessica Reif Ehrlich lowered the firm’s price target on Trade Desk (TTD) to $49 from $55 and keeps an Underperform rating on the shares. The firm forecast that Trade Desk’s Q3 results will be at least in line with guidance on revenue and adjusted EBITDA , adding that there generally appears to be no significant change in the macro environment after some volatility in the first half of the year. Kokai adoption remains on track to reach its target of 100% adoption by the end of this year, although there have been a few announcements and press reports related to changes in the offering/pricing following customer feedback, the analyst tells investors in a research note. The firm added that it believes that, amid management changes and topline deceleration in 2025, the stock has become a “show me” story given the volatility of the last 6-9 months.
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