Trade Desk Inc ( 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:

Needham analyst Laura Martin maintained a Buy rating, while slashing the price target from $84 to $60.

Rosenblatt Securities analyst Barton Crockett reiterated a Buy rating, while cutting the price target from $78 to $64.

Check out other analyst stock ratings.

Needham: Trade Desk's ( TTD ) 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 ( TTD ) 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 ( TTD ) had declined by 5.47% to $43.39 at the time of publication on Friday.

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