Trade Desk Inc (NASDAQ:TTD) is one of the 13 Best Revenue Growth Stocks to Buy Right Now.
On February 2, Cathie Wood’s ARK ETF divested a significant portion of its holdings in Trade Desk Inc (TTD), offloading 1,931,578 shares for nearly $58.6 million.
Earlier in the month, Wells Fargo maintained an Equal Weight rating on the stock with a price target of $42. In a research note, Wells Fargo said the sudden resignation of the company’s chief financial officer is a sign of “continued fundamental and narrative volatility.”
Management turnover is likely a factor that makes it harder for Trade Desk to compete with Amazon’s (AMZN) demand-side platform, according to the note. Wells Fargo recommends that the company seek a candidate with public-company CFO experience, which neither of its former CFOs had.
In the past month, a number of research firms cut their price targets on Trade Desk: Rosenblatt lowered the price target to $53 from $64, Truist to $60 from $65, Citi to $38 from $50, Stifel to $75 from $90, and BofA to $40 from $49.
Trade Desk is an independent demand-side platform for programmatic digital advertising, empowering ad buyers to purchase and optimize display, video, audio, and connected TV inventory across the open internet in real time.
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This article is originally published at Insider Monkey.
