The Trade Desk (TTD) PT Raised to $13 at Guggenheim

Guggenheim analyst Michael Morris raised the price target on The Trade Desk (NASDAQ: TTD) to $13.00 (from $12.00) while maintaining a Neutral rating.

The analyst commented: "We believe The Trade Desk is focused on steps to address their challenging financial trends, but see initiatives as early stage and unlikely to drive clear, sustainable improvement by year-end. While investor sentiment remains low, we see the reported revenue trend further softening in 4Q, providing limited support for incremental bullishness. In our August 6 Downgrade, we highlighted continued leadership turnover, agency conflict, product inconsistency, and CPG-related macro softness as the primary drivers of our change in sentiment. While we believe management recognizes these headwinds, we see four areas of focus critical to driving return to revenue growth stability in 2027 including 1) scaling go-to-market sales efforts; 2) impact of recent Zuma UI refresh (link) on advertiser performance; 3) healthy agency relationships; and 4) recovery of CPG advertiser spend. Given top-line recovery efforts remain early stage, however, we expect continued revenue decline in 1H27 with return to growth in the back half of the year. While our near-term Adjusted EBITDA forecast remains below consensus, we have included a more significant cost management outlook following the company’s recent 15% workforce reduction (link), which lifts our 2027 estimate to $531mm vs. $430mm and drives our price target increase to $13 (vs. $12 prior). Maintain NEUTRAL rating.'

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