Why The Trade Desk Stock Is Down Today
Portfolio Pulse from Erica Kollmann
The Trade Desk, Inc. (NASDAQ:TTD) stock is down after issuing Q4 revenue guidance below estimates, despite beating Q3 earnings and sales estimates. The company reported Q3 earnings of 33 cents per share and sales of $493.27 million, surpassing the consensus estimates. However, the Q4 revenue guidance was set at $580 million, below the expected $610.82 million. Analysts from Truist Securities, Morgan Stanley, Susquehanna, and Keybanc have updated their coverage, all maintaining their positive stance but lowering price targets. TTD shares experienced heavy trading volume and are trending on WallStreetBets and Yahoo Finance.
November 10, 2023 | 4:25 pm
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The Trade Desk's stock price is down due to Q4 revenue guidance falling short of expectations, despite a strong Q3 performance. Analysts have lowered their price targets but maintain a positive outlook.
The stock is down due to the lower than expected Q4 revenue guidance, which is a significant factor for investors. The high trading volume and attention from WallStreetBets and Yahoo Finance indicate a strong market reaction. Despite this, the maintained positive ratings from analysts may cushion the fall to some extent.
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IMPORTANCE 90
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