Trade Desk price target lowered to $70 from $110 at Oppenheimer

Oppenheimer lowered the firm’s price target on Trade Desk (TTD) to $70 from $110 and keeps an Outperform rating on the shares despite disappointing Q2 results and guidance reflecting a multi-quarter slowdown. The firm thinks the revised outlook is already priced in. Management blames tariff uncertainty, slower pace of next-gen adtech adoption by some large advertisers, and lack of excess ad budget on macro uncertainty, Oppenheimer adds.