Jefferies raises Trade Desk stock price target on Q3 results

Jefferies has raised its price target on The Trade Desk stock to $14.00 from $12.00, while maintaining a Hold rating. The company reported third-quarter revenue that surpassed expectations, though revenue excluding political advertising declined 8.5% year-over-year. The firm also provided fourth-quarter revenue guidance implying an 18% year-over-year decline and kept its 2027 revenue growth estimate at 7% year-over-year.

Despite near-term challenges, Jefferies believes the stock is undervalued at its current price, with a market cap of $7.06 billion.

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