DA Davidson lowered the firm’s price target on Trade Desk (TTD) to $92 from $103 and keeps a Buy rating on the shares after its Q1 results. The company has demonstrated that the changes/upgrades it’s implemented to its business in recent months are yielding rapid results, with the quarter coming in 7% ahead of expectations on revenue and 41% on adjusted EBITDA, the analyst tells investors in a research note. The firm is trimming its estimates however “to reflect increased conservatism on the macro”.
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- Trade Desk price target raised to $80 from $60 at Morgan Stanley
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