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Taboola.com and PubMatic Get Downgraded By Analyst Who Considers The Trade Desk Better Positioned In AdTech Space

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  • Ahead of AdTech prints, KeyBanc analyst Justin Patterson lowered estimates across three stocks, downgraded Taboola.com Ltd (NASDAQ: TBLA) and PubMatic, Inc (NASDAQ: PUBMto Sector Weight, and lowered his The Trade Desk, Inc (NASDAQ: TTDprice target from $55 to $52.

  • He believed that the industry had entered into a modest ad recession, where the combination of tighter budgets, less online time, and inflation and FX headwinds created elevated pressure on companies.

  • He viewed TBLA and PUBM as more exposed to these pressures given regional and channel mix and have lowered estimates materially below consensus.

  • Conversely, he viewed Overweight-rated TTD as better positioned for this period due to a mix of high growth channels like CTV, retail media, and political spend contributions in 4Q22E.

  • Price Action: TTD shares traded higher by 0.90% at $45.41 on the last check Monday.

Latest Ratings for TBLA

Date

Firm

Action

From

To

Feb 2022

Susquehanna

Maintains

Positive

Dec 2021

Keybanc

Initiates Coverage On

Overweight

Sep 2021

Credit Suisse

Initiates Coverage On

Outperform

View More Analyst Ratings for TBLA

View the Latest Analyst Ratings

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