
Shares of ad-tech firm Trade Desk TTD.O plunges 38% to $54.75 in early trading; set for biggest single-day pct drop on record
Co reports sharp slowdown in Q2 rev growth on softer demand for its digital advertising services in the connected TV market
Q2 rev rose 19%, down from 26% in the year-ago quarter
At least 11 brokerages trim PTs on the stock after results, with BofA Global Research double downgrading stock rating to "underperform" from "buy"
"We worry about competition from Amazon and others, although it's unclear how material this dynamic has been to reported numbers (yet)" - Piper Sandler
TTD on average is rated "buy" by 40 brokerages; their median PT is $84, as per data compiled by LSEG
YTD, stock down ~53%