Stifel has revised its price target for Trade Desk (TTD, Financial), reducing it from $122 to $87, while maintaining a Buy rating on the stock. Despite advertising metrics performing better than anticipated, Stifel is adjusting its forecasts downward for digital advertising, e-commerce, marketplaces, and subscription services.
The firm expressed unease about its projections, noting that the current economic climate presents challenges not seen since the COVID-19 pandemic. They anticipate a deceleration or decline in gross merchandise volume (GMV) growth in e-commerce and marketplace sectors as consumers grapple with rising prices.
