On August 10, Trade Desk Inc. fell 6.3% in regular trading, trading at $12.965/share, with turnover of $82.68 million.
On the news front, BNP Paribas downgraded Trade Desk from Neutral to Underperform, slashing its price target from $22 to $10. This follows Rothschild & Co Redburn's recent target cut to $9 from $11, adding to a wave of analyst downgrades triggered by the company's disappointing Q2 earnings released on August 6.
The Q2 report showed adjusted EPS of $0.34, missing the consensus estimate of $0.40 by 15% and declining 17% year-over-year. Revenue came in at $715 million, growing only 3% year-over-year and falling well short of the $751 million estimate. The company also issued weak Q3 revenue guidance, marking its second consecutive quarter of earnings misses. Baird previously downgraded the stock from Outperform to Neutral with a $9 target, while Susquehanna also cut its rating. The stock has declined approximately 80% over the past year amid intensifying competition from Amazon's DSP, TikTok, and Meta platforms.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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