UBS Cuts The Trade Desk, Inc. (TTD)'s Price Target to $80, Maintains Buy Rating

The Trade Desk, Inc. (NASDAQ:TTD) is among the 13 Best S&P 500 Stocks to Buy According to Wall Street Analysts, based on upside potential. However, on August 15, analysts at UBS lowered the stock’s price target to $80 from $105, while maintaining a Buy rating for its shares.

This follows BofA Securities’ recent rating adjustment on The Trade Desk, Inc. (NASDAQ:TTD), downgrading the stock from Buy to Neutral and slashing its price target significantly to $55 from $130 after the company reported a sharp slowdown in revenue growth during the second quarter and signalled a bumpy road ahead.

The ad-tech firm’s shares have plummeted more than 40% since the earnings call on August 7. The Trade Desk, Inc. (NASDAQ:TTD) is seeing soft demand for digital advertising services, as advertisers tighten their marketing budgets and focus more on platforms like Instagram, Facebook, and TikTok, amid economic uncertainty.

Despite recent reductions, The Trade Desk, Inc. (NASDAQ:TTD) has a one-year average price target of $75.79, representing an upside potential of nearly 47%. Moreover, the consensus opinion on the stock varies at Wall Street, with 17 analysts having a Buy rating and 15 having a Hold rating for its shares.

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