The Trade Desk (NASDAQ: TTD) just posted solid Q2 earnings — 41 cents per share and $694 million in revenue, beating Wall Street estimates. But despite the strong results, the stock plunged nearly 40% after the company projected slower revenue growth for Q3 and announced a CFO transition.
Bank of America responded quickly, slashing its price target from $130 to $55. With customer retention still above 95% and Q3 revenue guidance hitting at least $770 million, is this crash an overreaction? Or is there more to worry about?
