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Jefferies below consensus on The Trade Desk growth, sees several headwinds for Snap
December 15, 2022 2:09 PM ESTJefferies analyst James Heaney downgraded both The Trade Desk Inc. (NASDAQ: TTD) and Snap (NYSE: SNAP) to Hold from Buy in a note on the 2023 digital ad outlook on Thursday.
"In our view, the street is overly optimistic on digital advertising growth in '23 and '24," writes Heaney. "Accordingly, we lower our '23 revenue ests across our coverage by 3-7% bringing us 5-10% below... More
