Trade Desk shares slide after Morgan Stanley downgrades on increasing growth concerns

Shares of Trade Desk TTD.O down 11.7% at $46.29 on Weds after Morgan Stanley cut the advertising platform's rating, citing "mounting concerns" over growth

TTD on track for biggest daily percentage decline since Aug. 8 and lowest close since early April

MS downgraded TTD to 'equal-weight' from 'overweight' and slashed its PT to $50 from $80

"We have been wrong about the durability of TTD's growth in the face of lingering execution concerns, softness in the open web ad market, and intensifying competition in CTV (connected TV)," MS analysts wrote in note

Weaker-than-expected current-qtr guidance of 14% rev growth "has reignited questions that first emerged with its 4Q:24 miss and implies continued challenges ahead," MS said

TTD shares on Aug. 8 tumbled ~39% after co reported sharp slowdown in Q2 rev growth and CEO warned of tariff impact on large brand advertisers

Among 40 analysts that cover TTD, avg rating is "buy" and median PT is $75 - data compiled by LSEG

Including the move on Weds, TTD is down ~60% YTD vs NASDAQ Composite Index's .IXIC 13.3% advance