Trade Desk price target lowered to $130 from $155 at BofA

BofA lowered the firm’s price target on Trade Desk (TTD) to $130 from $155 and keeps a Buy rating on the shares after the company reported “disappointing” Q4 results and gave guidance that represented its “first miss in 33 quarters as a public company.” While Q4 results and the outlook were disappointing, the firm “more importantly” continues to believe in the longer-term fundamental thesis and believes Trade Desk remains well positioned to benefit from the growth in programmatic advertising and CTV, the analyst tells investors. The firm appreciates Trade Desk has now become a “show me” story, however, the analyst added.