RBC Capital lowered the firm’s price target on Trade Desk to $90 from $100 and keeps an Outperform rating on the shares. The company’s Q3 results were good with outperformance in revenue and adjusted EBITDA, though its Q4 guidance fell well short of expectations as the management highlighted more caution in the first two weeks of October followed by some stabilization in spend so far in November, the analyst tells investors in a research note. The firm adds however that it remains bullish on Trade Desk’s long-term strategic growth opportunity.
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