Trade Desk selloff presents buying opportunity, says Evercore ISI

Evercore ISI lowered the firm’s price target on Trade Desk to $65 from $100 and keeps an Outperform rating on the shares following the company’s “Beat and Lower print.” The guidance was “very surprising” for a company that has “consistently printed either a ‘Beat and Bracket’ or a ‘Beat and Raise’ quarter historically,” says the analyst, who does not believe the company is facing any meaningful structural or fundamental challenges and believes the “overdone” after-hours selloff “poses a buying opportunity for investors who have waited for a more reasonable entry point.”