Down 12 points pre open per: Nomura downgrades Trade Desk (NASDAQ:TTD) from Neutral to Reduce and announces $144 price target.
With 144 so crazy I see this as a potential to possibly add to my position?
PS Thanks Saul for your great work and many others
From Seeking Alpha:
Nomura downgrades Trade Desk (NASDAQ:TTD) from Neutral to Reduce on the lofty investor expectations for the company’s prospects.
Analyst Mark Kelley says the fundamentals are “relatively solid” but “out of sync” with near- to mid-term expectations and “the story being told.”
Kelley says some investors see a $1T online advertising TAM for Trade Desk, but Google and social media companies have already claimed most of the total. Removing that portion, Kelley sees the remaining market growing to about $60B in 2021.
Kelley estimates TTD’s revenue potential at $12B, roughly in-line with its market cap.