Sure, the stock may now trade at a fraction of its all-time high achieved in 2024, but that doesn't automatically make it a buy.

Shares of The Trade Desk fell more than 17% in premarket trading on Thursday after the advertising-technology firm projected first-quarter revenue below Wall Street expectations,

Revenue growth is expected to decelerate to about 10% growth for the current quarter, from 25% growth reported in Q1 2025. The company said macro uncertainty, tariff concerns, and consumer pressure will continue to hurt its consumer packaged goods (CPG) and automotive advertising going into early 2026.

The Trade Desk reports after the bell tonight, and there is really only one metric that matters: Revenue growth rate.

The Trade Desk (NASDAQ: TTD) has fallen 81% from its record high, but most Wall Street analysts view the stock as deeply undervalued. In fact, the median target price of $50 per share implies 85% upside from its current share price of $27.

The Trade Desk, Inc. TTD stock declined Thursday after the company issued a weaker-than-expected revenue outlook for the first quarter of 2026, dampening investor enthusiasm despite a modest fourth-quarter 2025 earnings beat.

The ad-tech provider said automotive and packaged-good clients are under pressure.

Investors were watching whether Trade Desk (NASDAQ: TTD) could hold its revenue growth rate in the high teens, the one number flagged as the test that would define the stock’s trajectory after a 66% decline over the past year.