TTD Downgraded to Underperform
Raymond James downgrades TTD due to weak 2Q and 3Q outlook
TTD Raymond James Downgrades TTD to Underperform Analyst comments: "We downgrade shares of The Trade Desk following a below-expectations 2Q and a sharply negative 3Q outlook, as macro conditions and buyers showing preferences for lower-cost media drove down spend on the TTD platform. The company guided to its first-ever non-pandemic year-over-year revenue decline despite potential benefits from political spend. For the next few quarters, what TTD can control appears far overshadowed by forces beyond its reach, and we see a difficult road back to growth. Even if growth materializes, margins are a new concern as the top line softens further.
" Analyst: Aaron Kessler