Trade Desk price target lowered to $54 from $80 at DA Davidson

DA Davidson lowered the firm’s price target on Trade Desk (TTD) to $54 from $80 and keeps a Buy rating on the shares. The company reported a “solid” Q3, but the implied growth of Q4 outlook may not be enough to assuage all investor concerns around rising competition and potential threats from AI, the analyst tells investors in a research note. Trade Desk seems to be playing more defense at the moment than the firm can ever recall it having to, DA Davidson added.