Rosenblatt analyst Barton Crockett lowered the firm’s price target on Trade Desk (TTD) to $53 from $64 and keeps a Buy rating on the shares. The reduced the stock’s valuation multiple citing the “surprising termination” of CFO Alexander Kayyal after only five months on the job. The “surprising personnel volatility in this key post for now eviscerates the argument for a valuation premium to growth,” the analyst tells investors in a research note.
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