Trade Desk Inc (NASDAQ:TTD) shares came under pressure in early trading on Friday, despite the company on Thursday reporting upbeat third-quarter results.

• TTD stock is struggling to find support. Get the complete picture here.

Here are some key analyst takeaways:

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Needham: Trade Desk's third-quarter revenues grew 18% year-on-year to $739.4 million, beating expectations, Martin said in a note. She added that this was the slowest revenue growth since the first quarter of 2022.

Management guided to a further slowdown in the fourth quarter to 13%, the analyst stated. She further noted that investors are worried about:

• A likely contraction in Open Internet ad revenues as ChatGPT and Google Answers replace links.
• DSPs and SSPs are encroaching into each other’s business
• Performance-CTV expand TAM through SMBs, but these clients require CPA, and TTD only has CPMs.
• Full funnel ad campaigns are the fastest growing digital ad segment, but TTD doesn’t do these.

Rosenblatt Securities: Trade Desk's revenues came in at $739 million, beating guidance by $22 million, Crockett said. The company's adjusted EBITDA came in at $317 million, up 24% year-on-year, and topped guidance by $40 million, he added.

Management guided to fourth quarter adjusted EBITDA of $375 million, in-line with consensus, the analyst stated. "Fears of rising competition from Amazon’s DSP have walloped TTD shares," he further wrote.

TTD Price Action: Shares of Trade Desk had declined by 5.47% to $43.39 at the time of publication on Friday.

Read More:  
• Amazon’s Rising Ad Power Pressures Trade Desk As Shares Plunge Over 38% On Growth Concerns

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