The Trade Desk (TTD) PT Lowered to $100 at Wolfe Research

Wolfe Research analyst Shweta Khajuria lowered the price target on The Trade Desk (NASDAQ: TTD) to $100.00 (from $155.00) while maintaining a Outperform rating.

The analyst comments "Our Outperform rating is based on our view of TTD maintaining 20% revenue growth, ramping new partnerships (Roku, Disney, Spot, and Netflix), new product innovations, and a healthy digital ad market. That said, we acknowledge the bar is high and competition is rising. Valuation: Our PT of $100 is based on a 35x ’26 EBITDA. This multiple is above similar growth profile software comp group median multiple and reasonable in our view, given TTD’s leadership position and growth + margin profile. For context, TTD shares are currently trading at 30.7x '26 EBITDA."

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