Trade Desk shares have fallen 67% year to date to around $12.43, a market value of $5.34 billion, after Q2 2026 revenue of $715.06 million came in below expectations and Q3 revenue guidance of at least $650 million fell well short. Management blamed pressure from consumer packaged goods and automotive advertisers, execution problems and a shift to lower-cost fixed-price media, and analysts cut their 2026 EPS consensus to $1.158 from $1.8428 sixty days earlier. Rival AppLovin is down 60% year to date, while Magnite is up 44%, and CFO Nate Olmstead said visibility was “somewhat more limited than it has been in recent history.” Bulls point to a trailing P/E of 14.87x, customer retention above 95% and $269 million left on the buyback authorization, while skeptics expect several quarters to fix pricing and execution, with 2027 consensus EPS of $1.0019.
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