Overview

• Trade Desk shares rose about 1.4% to $46.16 on Tuesday, pausing a decline of nearly 50% since early August.
• The stock fell 12.5% over the past five sessions and is down more than 60% year to date, with Forbes citing a recent price near $45.54.
• Netflix’s decision to have Amazon sell its advertising inventory has reduced The Trade Desk’s inventory exclusivity, Forbes reported.
• Morgan Stanley downgraded the stock to Equal-Weight from Overweight last week and cut its price target to $50, citing intensifying competition and reported Walmart relationship concerns.
• Despite market pressure, The Trade Desk posted Q2 revenue of $694 million, guided at least $717 million for Q3, and reported customer retention above 95%.