Trade Desk Shares Tank Despite Earnings Beat: Analysts 'Surprised By Weak Guide'
Portfolio Pulse from Priya Nigam
Trade Desk Inc (NASDAQ:TTD) shares dropped after Q3 earnings, despite beating expectations, due to a weaker Q4 guidance. Analysts from Truist Securities, Piper Sandler, Needham, and Stifel have adjusted their ratings and price targets, noting the company's strong market position but expressing concern over the cautious Q4 outlook.
November 10, 2023 | 6:07 pm
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NEGATIVE IMPACT
Trade Desk's stock price fell due to a weaker than expected Q4 guidance, despite a Q3 earnings beat. Analysts remain positive on the company's long-term prospects but have adjusted price targets.
The short-term impact on TTD's stock price is negative due to the unexpected weak guidance for Q4, which has led to a significant drop in share price. Analysts' continued support and the company's strong market position may mitigate the impact over time, but the immediate reaction is clearly bearish.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100