Trade Desk price target lowered to $100 from $115 at Citizens JMP

Citizens JMP analyst Matthew Condon lowered the firm’s price target on Trade Desk (TTD) to $100 from $115 and keeps an Outperform rating on the shares. The reacceleration of revenue in Q1 confirms that 4Q24 weakness was not due to structural issues or increased competition, as it appears Trade Desk has returned to strong execution and share gains, the analyst tells investors in a research note. Additionally, the recent court ruling that Google’s (GOOGL) monopolized areas of the online ad market could lead to a breakup of Google’s ad tech business, resulting in a fairer open web advertising market and improved competitive positioning for Trade Desk, the firm says.