The Trade Desk, Inc. (NASDAQ:TTD) shares are trading lower Friday after the company reported mixed first-quarter financial results and issued second-quarter revenue guidance below estimates on Thursday after the market closed. Also, Needham lowered its price target on the stock from $32 to $25.

• Trade Desk stock is feeling bearish pressure. Why is TTD stock falling?

Q1 Highlights

The Trade Desk reported adjusted earnings per share of 28 cents, missing the consensus estimate of 32 cents. In addition, it posted revenue of $688.85 million, beating the consensus estimate of $679.20 million.

Customer retention remained above 95% during the first quarter.

"Q1 was another strong quarter for The Trade Desk, with revenue growing to $689 million, representing 12% year-over-year growth," said CEO Jeff Green.

"We're encouraged by the impact of the strategic upgrades we've been making across the company, which contributed to our outperformance in Q1. Despite headwinds in the macro environment, we remain confident in our ability to lead and innovate within the programmatic ecosystem," Green added.

The company said it used approximately $164 million in cash to repurchase Class A common stock during the first quarter of 2026. As of March 31, The Trade Desk had $327 million remaining under its authorized share repurchase program.

Guidance

The Trade Desk expects second-quarter revenue to be more than $750.00 million, versus the consensus estimate of $771.63 million.

Analyst Consensus & Recent Actions

The stock carries a Buy rating with an average price target of $35.32. Recent analyst moves include:

• Keybanc: Downgraded to Sector Weight (May 8)
• Rosenblatt: Neutral (Lowers Target to $24.00) (May 8)
• Needham: Buy (Lowers Target to $25.00) (May 8)

Long-Term Bearish Trend Continues To Pressure TTD Shares

The bigger-picture trend remains bearish: TTD is trading 11.5% below its 20-day SMA, 13.9% below its 50-day SMA, 27.9% below its 100-day SMA, and 49.5% below its 200-day SMA—keeping rallies under steady moving-average pressure.

The 20-day SMA sitting below the 50-day SMA reinforces the near-term downtrend, and the 50-day SMA below the 200-day SMA confirms the longer-term bearish structure. That lines up with the stock's 12-month slide of 60.78%, which has left the chart in "sell-the-rip" mode until price can reclaim key averages.

RSI is the cleaner momentum read right now, sitting at 50.88, which signals neutral momentum rather than an oversold washout. In plain terms, RSI helps gauge whether selling (or buying) has become stretched—here it suggests the stock has room to move either way, so nearby levels matter more than "mean reversion" hopes.

• Key Resistance: $24.50 — lines up with a nearby pivot area and sits close to the 50-day EMA ($24.56), a zone that often caps rebounds in downtrends
• Key Support: $19.50 — a nearby floor just under the current price and near the recent 52-week low zone ($19.74), where buyers may try to defend again

From a timing perspective, the most recent swing low formed in April and the swing high in March, which frames the current action as a retest of the lower end of that range. If $19.50 fails to hold, the market is effectively signaling that April's low is back in play.

Trade Desk Shares Slip

TTD Price Action: Trade Desk shares are trading 7.66% lower at $21.69 on Friday, according to Benzinga Pro. Over the past month, TTD has declined about 5.1% versus a 8.2% rise in the S&P 500 and is down roughly 47% year-to-date compared to the index’s 6.7% gain.

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