{"id":12321,"date":"2023-11-10T19:50:13","date_gmt":"2023-11-10T19:50:13","guid":{"rendered":"https:\/\/infundpros.com\/markets\/trade-desk-stock-collapses-it-looks-like-a-dip-buying-opportunity-analysts-say\/"},"modified":"2023-11-10T19:50:14","modified_gmt":"2023-11-10T19:50:14","slug":"trade-desk-stock-collapses-it-looks-like-a-dip-buying-opportunity-analysts-say","status":"publish","type":"post","link":"https:\/\/infundpros.com\/?p=12321","title":{"rendered":"Trade Desk Stock Collapses. It Looks Like a Dip-Buying Opportunity, Analysts Say."},"content":{"rendered":"
\n
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<\/p>\n<\/figure><\/div>\n

Shares in
\n Trade Desk
\n were plummeting after the streaming TV advertising infrastructure provider\u2019s earnings report late Thursday revealed a weaker-than-expected outlook. The stock at these levels could be a buying opportunity.<\/p>\n

Shares in Trade Desk (ticker: TTD) opened down 17% at $63.61 on Friday after the company said it sees fourth-quarter revenue of \u201cat least $580 million,\u201d far short of the consensus among analysts of $610 million. Earnings are also seen below consensus estimates.<\/p>\n

\n

\u201cBuy the dip on temporary ad headwinds,\u201d said Jason Helfstein, an analyst at Oppenheimer. That seems to be the sentiment across Wall Street, where analysts have trimmed their price targets but maintained bullish ratings on the stock. Helfstein held his Outperform rating on Trade Desk, lowering the price target to $85 from $95.<\/p>\n

Analysts are maintaining their convictions that the stock is a buy despite advertising headwinds, which, if true, could mean that the shares are oversold after the outlook-driven slide and may be a value buy.<\/p>\n

\u201cMore limited visibility is clearly going to impact sentiment, but there was nothing within the quarter that was indicative that core secular tailwinds \u2026 have changed, and we remain constructive on the long-term trajectory,\u201d said Citi\u2019s Ygal Arounian, maintaining his Buy rating with a price target of $68. \u201cTemporary dislocation from macro factors could be the buying opportunity many were looking for,\u201d he added.<\/p>\n

Matthew Swanson, an analyst at RBC Capital Markets, has a similar view, noting they \u201cremain bullish on the long-term strategic growth opportunity.\u201d Swanson held his Outperform rating, lowering the price target to $90 from $100.<\/p>\n

For Justin Patterson, an analyst at KeyBanc Capital Markets, the stock\u2019s setback was a \u201cspeed bump, not structural\u201d for Trade Desk. Patterson held his Overweight rating but trimmed the price target on the stock to $84 from $100.<\/p>\n

\u201cWe underappreciated the degree to which The Trade Desk would be caught in the brand ad spend pause that social advertisers experienced,\u201d Patterson said. \u201cHowever, if we assume the bulk of the revenue revision is from transitory factors, The Trade Desk now has a clear path toward reaccelerating growth.\u201d<\/p>\n

Write to Jack Denton at jack.denton@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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