Trade Desk falls after Wells Fargo downgrades on increasing Amazon competition

Roku

26/06/2025 14:28

** Shares of ad-tech firm Trade Desk TTD.O shares down 3% to $67.73 premarket after Wells Fargo downgrades to 'equal weight' from 'overweight', saying competitive impact from Amazon.com AMZN.O increasingly likely in 2026

** Brokerage reduces TTD PT by $6 to $68 vs Wall Street median of $84

** TTD checks have begun to indicate a greater willingness to test Amazon DSP on non-Amazon owned-and-operated connected TV inventory, subsequent to DSP / Roku & Disney+ partnership announcements, Wells Fargo says in note

** Even before the Roku & Disney integrations, Wells says its survey data shows Amazon was starting to take wallet share

** Now, 28 of 41 brokerages covering TTD rate stock "strong buy" or "buy", 11 have "hold" and 2 recommend "sell" - LSEG data

** Through Weds close, TTD shares have lost 40% YTD

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@thomsonreuters.commailto:lance.tupper@tr.com 1-646-279-6380))