Trade Desk (TTD) Stock Forecast & Price Target

Trade Desk demonstrated a solid financial performance with third-quarter revenues reaching $739 million, marking an 18% year-over-year increase, or 22% excluding political ad spend, which surpassed both internal estimates and consensus projections. The firm also reported a significant uptick in EBITDA, achieving $317 million, which reflects a 23.3% year-over-year growth and a healthy margin of 42.8%. Additionally, the adoption of the Kokai platform among clients has risen to 85%, indicating strong customer engagement and a widening market presence, further supporting Trade Desk's positive outlook in a competitive digital advertising landscape.

The Trade Desk's revenue growth rate has decelerated significantly, with the third quarter of 2025 reflecting an 18% increase, the slowest since the first quarter of 2022, and guidance for the fourth quarter suggesting a further slowdown to 13% year-over-year. Key risks affecting the company's performance include the depreciation of cookies, potential weaknesses in the U.S. GDP and advertising market, increased working capital demands, downward pressure on its take-rate, and heightened competition in the digital advertising sector. Consequently, these factors have led to a downward revision of price targets based on expected continued revenue slowdowns and declining margins, suggesting an overall negative outlook for the company’s stock.