TTD - This Adtech Stock Has 53% Downside According to 1 Wall Street Analyst
2024-02-21 04:04:00 ET
One analyst recently lifted his price target for adtech specialist The Trade Desk 's (NASDAQ: TTD) stock. The raise was significant, however the move does not make this pundit a bull on the up-and-coming stock. In fact, he still believes it is firmly in sell territory.
On Feb. 12, three days before The Trade Desk published its fourth-quarter earnings report, Benchmark's Mark Zgutowicz reiterated his sell recommendation on the stock. At that point, he pegged it as being worth $32 per share. The stock closed Feb. 12 at $73.91.
In Zgutowicz's view, the average analyst revenue estimate for the company were too high. Per his forecast, the The Trade Desk was on course to pull in 4% less revenue than the consensus figure for full-year 2024; in terms of year-over-year comparisons, Zgutowicz was modeling a nearly 21% decline over the 2023 number.
For further details see:
This Adtech Stock Has 53% Downside, According to 1 Wall Street Analyst