Trade Desk Stock Is Cut to Sell. It’s ‘Priced to Perfection in an Imperfect Market.’

Trade Desk

stock was falling Thursday after a Benchmark analyst downgraded the advertising technology company, citing risks to the ad industry.

Mark Zgutowicz downgraded shares of Trade Desk (ticker: TTD) to Sell from Hold Thursday. The analyst wrote in a research note that shares are “priced to perfection in an imperfect market.” He gave the stock a $38 price target, which implies a 35% decline from Wednesdays closing price.