Vetr Downgrades Trade Desk As Q3 Earnings Loom

The Vetr crowd on Wednesday downgraded its rating on Trade Desk, Inc. (NASDAQ: TTD) from 4.5 stars (Strong Buy), issued 15 days ago, to 4 stars (Buy). Crowd sentiment at the time of the downgrade was still mostly positive, with 80 percent of Vetr user ratings bullish.

The downgrade comes just about a week away from Trade Desk's third-quarter earnings report. Last quarter the company surprised analysts by clocking in revenue that surpassed expectations by more than 7 percent and shattered EPS estimates by 33 cents, showing 52 cents.

Analysts remain bullish on the company, which IPO'd just this year. Macquarie and JMP Securities recently initiated the stock with Outperform ratings and price targets at or above $70.

Trade Desk finished the Nov. 1 trading day down slightly at $65.07.

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Currently, the Vetr crowd's average price target on Trade Desk is up at 71.92, well above the average analyst price target of around $65. Less than 2 percent of Vetr users are holding TTD in their watch-lists.