Jefferies sees limited growth for Trade Desk amid ongoing challenges and Publicis dispute impact.

Jefferies analysts warn that Trade Desk's upcoming earnings report is unlikely to show strong growth due to persistent structural challenges and the ongoing dispute with Publicis. They forecast second-quarter revenue growth of 8% year-over-year, in line with estimates, but note this is slower than previous years. The resolution of the Publicis dispute and new leadership could influence third-quarter results, but risks remain from competitive pressures, including Amazon and declining publisher traffic. Jefferies also lowered its 2027 revenue and EBITDA estimates, citing tougher market conditions and slower growth prospects.