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Benzinga
Benzinga
Business
Dylan Berman

The Trade Desk Stock Is Moving Lower Thursday: What Driving The Action?

Portland,,Or,,Usa,-,Jan,21,,2021:,The,Trade,Desk

The Trade Desk Inc. (NASDAQ:TTD) stock is trading lower on Thursday. Wells Fargo analyst Alec Brondolo downgraded The Trade Desk from an Overweight rating to an Equal-Weight rating and lowered the price target from $74 to $68.

What To Know: The Wells Fargo analyst cited rising competition from Amazon.com, Inc. (NASDAQ:AMZN) starting in 2026, according to Investing.com. Specifically, Brondolo says Amazon's recent deals with Roku and Disney are pushing advertisers to experiment with Amazon’s demand-side platform on third-party inventory, undercutting The Trade Desk's prior lead in connected TV access.

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