<h2>关键点</h2>
<ul>
<li>今日，华尔街分析师对 <strong>The Trade Desk</strong> 进行了多次下调评级。</li>
<li>这紧随昨日报道，一家主要客户建议其客户避免使用 The Trade Desk 的软件。</li>
<li>尽管有否认，但该报道对 The Trade Desk 在广告代理客户中的地位产生了怀疑。</li>
<li>我们更看好的 10 只股票 ›</li>
</ul>
<p>程序化广告软件公司 <strong>The Trade Desk</strong>（NASDAQ: TTD）的股价今天再次下跌，截至东部时间中午 12:49，下跌 6%。</p>
<p>最近，The Trade Desk 的股票经历了剧烈波动，主要是负面的。昨日，该公司收到坏消息，一家行业出版物报道一家主要广告代理商告知客户避免使用 The Trade Desk 平台。今天，两位华尔街分析师因此下调了该股的目标价。</p>
<p><em><strong>人工智能会创造出世界上第一个万亿富翁吗？</strong> 我们的团队刚刚发布了一份关于一家鲜为人知的公司报告，该公司被称为 “不可或缺的垄断”，提供 Nvidia 和 Intel 都需要的关键技术。<strong>继续 »</strong></em></p>
<h2>Publicis 将 The Trade Desk 推向风口浪尖</h2>
<p>昨日，广告行业出版物 <em>Ad Age</em> 报道，法国广告公司 <strong>Publicis Group</strong>（OTC: PUBGY）最近指示客户避免使用 The Trade Desk 的需求方广告软件。根据报道，一项由 Publicis 资助的第三方审计发现，The Trade Desk 违反了协议，存在超额收费和未经客户同意就为其注册额外功能的情况。</p>
<p>这一消息导致 The Trade Desk 的股价昨日下跌，尽管 Publicis 和 The Trade Desk 均未确认该报道。Publicis 没有回应评论请求，而 The Trade Desk 则发表声明称：“我们知道与 Publicis 审计过程相关的问题。任何关于 TTD 未通过审计的说法都不属实。”</p>
<p>尽管如此，这些否认并未阻止卖方分析师今天下调股票评级和目标价。<strong>Stifel</strong> 的分析师将 TTD 股票的评级从 “买入” 下调至 “持有”，并将目标价从 48 美元下调至 26 美元。Stifel 分析师指出，Publicis 是 The Trade Desk 最大的客户，占其总账单的超过 10%。</p>
<p>此外，卖方研究公司 Rosenblatt 也将该股评级下调至 “持有”，并将目标价下调至 25 美元。Rosenblatt 指出，Publicis 的指控可能象征着广告代理商对 The Trade Desk 采取更对抗的态度，因为这些代理商自身面临财务压力。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-dXJsPWh0dHBzOi8vZy5mb29sY2RuLmNvbS9lZGl0b3JpYWwvaW1hZ2VzLzg2MTIzOS9nZXR0eWltYWdlcy0xNDkyMTgwNTI3LTEuanBnJnc9NzAw?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-dXJsPWh0dHBzOi8vZy5mb29sY2RuLmNvbS9lZGl0b3JpYWwvaW1hZ2VzLzg2MTIzOS9nZXR0eWltYWdlcy0xNDkyMTgwNTI3LTEuanBnJnc9NzAw"/></p>
<p>图片来源：Getty Images。</p>
<h2>The Trade Desk 仍处于困境</h2>
<p>The Trade Desk 的股票在过去一年中大幅下跌，其市盈率收缩至合理水平，可能为投资者创造了机会。事实上，本月早些时候，因 AI 领导者 OpenAI 可能正在与 The Trade Desk 测试广告策略，该股曾大幅上涨。</p>
<p>然而，AI 的采用似乎可能在伤害 The Trade Desk 的传统客户的同时，也帮助其寻找新客户。在这一行业变动中，广告科技公司的股票变得波动不定，其曾经高企的市盈率在不确定性中收缩。</p>
<h2>现在应该购买 The Trade Desk 的股票吗？</h2>
<p>在你购买 The Trade Desk 的股票之前，请考虑以下几点：</p>
<p><em>Motley Fool Stock Advisor</em> 的分析师团队刚刚确定了他们认为的 <strong>10 只最佳股票</strong>，供投资者现在购买……而 The Trade Desk 并不在其中。这 10 只入选的股票在未来几年可能会产生巨额回报。</p>
<p>考虑一下 <strong>Netflix</strong> 在 2004 年 12 月 17 日上榜时……如果你在我们推荐时投资了 1,000 美元，<strong>你现在将拥有 508,877 美元</strong>！* 或者 <strong>Nvidia</strong> 在 2005 年 4 月 15 日上榜时……如果你在我们推荐时投资了 1,000 美元，<strong>你现在将拥有 1,115,328 美元</strong>！*</p>
<p>现在值得注意的是，<em>Stock Advisor</em> 的总平均回报率为 936%——相比之下，标准普尔 500 指数的回报率为 189%。<strong>不要错过最新的前 10 名股票列表，加入由个人投资者为个人投资者建立的投资社区，获取 <em>Stock Advisor</em> 的最新信息。</strong></p>
<p><strong>查看这 10 只股票 »</strong></p>
<p><em>*Stock Advisor 的回报截至 2026 年 3 月 18 日。</em></p>
<p><em>Billy Duberstein 和/或他的客户持有 The Trade Desk 的股份。Motley Fool 持有并推荐 The Trade Desk。Motley Fool 有披露政策。</em></p>
<p>此处表达的观点和意见是作者的观点和意见，并不一定反映 Nasdaq, Inc. 的观点。</p>

埃培智

标普软件与服务 ETF - SPDR

北美科技软件股指数 ETF - iShares

TTDU

<p>Trade Desk 的股票今天下跌了 6%，原因是华尔街分析师下调了评级，报告显示主要客户 Publicis 建议客户避免使用其软件。尽管 Trade Desk 否认了任何不当行为，但这一消息引发了人们对其与广告代理关系的担忧。Stifel 和 Rosenblatt 的分析师下调了对该股票的评级和目标价，反映出在财务压力下广告代理的对抗态度更加明显。该股票波动性较大，估值在广告科技行业的不确定性中收缩</p>

<h2>Key Points</h2>
<div class="lb-trans"><h2>关键点</h2>
</div><ul>
<li>The Trade Desk saw several downgrades today from Wall Street analysts.</li>
<li>They follow yesterday's reporting that a major customer advised its clients to avoid using The Trade Desk's software.</li>
<li>Despite denials, the report is casting doubt over The Trade Desk's standing with ad agency customers.</li>
<li>10 stocks we like better than The Trade Desk ›</li>
</ul>
<div class="lb-trans"><ul>
<li>今日，华尔街分析师对 <strong>The Trade Desk</strong> 进行了多次下调评级。</li>
<li>这紧随昨日报道，一家主要客户建议其客户避免使用 The Trade Desk 的软件。</li>
<li>尽管有否认，但该报道对 The Trade Desk 在广告代理客户中的地位产生了怀疑。</li>
<li>我们更看好的 10 只股票 ›</li>
</ul>
</div><p>Shares of programmatic advertising software company <strong>The Trade Desk</strong>(NASDAQ: TTD) were falling again today, down 6% as of 12:49 p.m. EDT.</p>
<div class="lb-trans"><p>程序化广告软件公司 <strong>The Trade Desk</strong>（NASDAQ: TTD）的股价今天再次下跌，截至东部时间中午 12:49，下跌 6%。</p>
</div><p>The Trade Desk stock has been on a wild ride as of late, mostly to the negative. Yesterday, the company received bad news after an industry publication reported that a major advertising agency told clients to avoid the Trade Desk platform. Today, two Wall Street analysts lowered their price targets on the stock as a result.</p>
<div class="lb-trans"><p>最近，The Trade Desk 的股票经历了剧烈波动，主要是负面的。昨日，该公司收到坏消息，一家行业出版物报道一家主要广告代理商告知客户避免使用 The Trade Desk 平台。今天，两位华尔街分析师因此下调了该股的目标价。</p>
</div><p><em><strong>Will AI create the world's first trillionaire?</strong> Our team just released a report on the one little-known company, called an &#34;Indispensable Monopoly&#34; providing the critical technology Nvidia and Intel both need. <strong>Continue »</strong></em></p>
<div class="lb-trans"><p><em><strong>人工智能会创造出世界上第一个万亿富翁吗？</strong> 我们的团队刚刚发布了一份关于一家鲜为人知的公司报告，该公司被称为 “不可或缺的垄断”，提供 Nvidia 和 Intel 都需要的关键技术。<strong>继续 »</strong></em></p>
</div><h2>Publicis throws The Trade Desk under the bus</h2>
<div class="lb-trans"><h2>Publicis 将 The Trade Desk 推向风口浪尖</h2>
</div><p>Yesterday, advertising industry publication <em>Ad Age</em> reported that French advertising firm <strong>Publicis Group</strong>(OTC: PUBGY) had recently instructed clients to avoid using The Trade Desk's demand-side advertising software. According to the report, a Publicis-funded third-party audit found that the Trade Desk had violated its agreement by overcharging and enrolling clients in additional features without their consent.</p>
<div class="lb-trans"><p>昨日，广告行业出版物 <em>Ad Age</em> 报道，法国广告公司 <strong>Publicis Group</strong>（OTC: PUBGY）最近指示客户避免使用 The Trade Desk 的需求方广告软件。根据报道，一项由 Publicis 资助的第三方审计发现，The Trade Desk 违反了协议，存在超额收费和未经客户同意就为其注册额外功能的情况。</p>
</div><p>This bit of news sent The Trade Desk's shares down yesterday, even though neither Publicis nor The Trade Desk confirmed the report. Publicis did not answer a request for comment, and The Trade Desk issued a statement, saying, &#34;We're aware of questions related to a Publicis audit process. Any notion that TTD ⁠failed an audit is not true.&#34;</p>
<div class="lb-trans"><p>这一消息导致 The Trade Desk 的股价昨日下跌，尽管 Publicis 和 The Trade Desk 均未确认该报道。Publicis 没有回应评论请求，而 The Trade Desk 则发表声明称：“我们知道与 Publicis 审计过程相关的问题。任何关于 TTD 未通过审计的说法都不属实。”</p>
</div><p>Still, the denials didn't prevent sell-side analysts from downgrading shares and lowering target prices today. Analysts at <strong>Stifel</strong> lowered their rating on TTD shares from &#34;Buy&#34; to &#34;Hold,&#34; and lowered the firm's price target to $26 from $48. Stifel analysts noted that Publicis is The Trade Desk's largest client, accounting for over 10% of gross billings.</p>
<div class="lb-trans"><p>尽管如此，这些否认并未阻止卖方分析师今天下调股票评级和目标价。<strong>Stifel</strong> 的分析师将 TTD 股票的评级从 “买入” 下调至 “持有”，并将目标价从 48 美元下调至 26 美元。Stifel 分析师指出，Publicis 是 The Trade Desk 最大的客户，占其总账单的超过 10%。</p>
</div><p>Additionally, sell-side research firm Rosenblatt also downgraded shares to &#34;Hold&#34; and lowered its price target to $25. Rosenblatt noted that the Publicis accusation could be emblematic of ad agencies taking a more confrontational approach to the Trade Desk, as the agencies themselves come under financial pressure.</p>
<div class="lb-trans"><p>此外，卖方研究公司 Rosenblatt 也将该股评级下调至 “持有”，并将目标价下调至 25 美元。Rosenblatt 指出，Publicis 的指控可能象征着广告代理商对 The Trade Desk 采取更对抗的态度，因为这些代理商自身面临财务压力。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-dXJsPWh0dHBzOi8vZy5mb29sY2RuLmNvbS9lZGl0b3JpYWwvaW1hZ2VzLzg2MTIzOS9nZXR0eWltYWdlcy0xNDkyMTgwNTI3LTEuanBnJnc9NzAw" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F861239%2Fgettyimages-1492180527-1.jpg&amp;w=700"/></p>
<p>Image source: Getty Images.</p>
<div class="lb-trans"><p>图片来源：Getty Images。</p>
</div><h2>The Trade Desk remains in limbo</h2>
<div class="lb-trans"><h2>The Trade Desk 仍处于困境</h2>
</div><p>The Trade Desk's stock is down sharply over the past year and its multiple has contracted to reasonable levels, potentially creating an opportunity for investors. In fact, earlier this month, the stock surged on reports that AI leader OpenAI might be testing advertising strategies with The Trade Desk.</p>
<div class="lb-trans"><p>The Trade Desk 的股票在过去一年中大幅下跌，其市盈率收缩至合理水平，可能为投资者创造了机会。事实上，本月早些时候，因 AI 领导者 OpenAI 可能正在与 The Trade Desk 测试广告策略，该股曾大幅上涨。</p>
</div><p>However, it appears AI adoption may be hurting The Trade Desk's traditional customers as much as it's helping it find new ones. Amid this industry flux, it's no wonder the adtech's stock has become volatile, and its once-sky-high multiple has contracted amid the uncertainty.</p>
<div class="lb-trans"><p>然而，AI 的采用似乎可能在伤害 The Trade Desk 的传统客户的同时，也帮助其寻找新客户。在这一行业变动中，广告科技公司的股票变得波动不定，其曾经高企的市盈率在不确定性中收缩。</p>
</div><h2>Should you buy stock in The Trade Desk right now?</h2>
<div class="lb-trans"><h2>现在应该购买 The Trade Desk 的股票吗？</h2>
</div><p>Before you buy stock in The Trade Desk, consider this:</p>
<div class="lb-trans"><p>在你购买 The Trade Desk 的股票之前，请考虑以下几点：</p>
</div><p>The <em>Motley Fool Stock Advisor</em> analyst team just identified what they believe are the <strong>10 best stocks</strong> for investors to buy now… and The Trade Desk wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.</p>
<div class="lb-trans"><p><em>Motley Fool Stock Advisor</em> 的分析师团队刚刚确定了他们认为的 <strong>10 只最佳股票</strong>，供投资者现在购买……而 The Trade Desk 并不在其中。这 10 只入选的股票在未来几年可能会产生巨额回报。</p>
</div><p>Consider when <strong>Netflix</strong> made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, <strong>you’d have $508,877</strong>!* Or when <strong>Nvidia</strong> made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, <strong>you’d have $1,115,328</strong>!*</p>
<div class="lb-trans"><p>考虑一下 <strong>Netflix</strong> 在 2004 年 12 月 17 日上榜时……如果你在我们推荐时投资了 1,000 美元，<strong>你现在将拥有 508,877 美元</strong>！* 或者 <strong>Nvidia</strong> 在 2005 年 4 月 15 日上榜时……如果你在我们推荐时投资了 1,000 美元，<strong>你现在将拥有 1,115,328 美元</strong>！*</p>
</div><p>Now, it’s worth noting <em>Stock Advisor’s</em> total average return is 936% — a market-crushing outperformance compared to 189% for the S&amp;P 500. <strong>Don't miss the latest top 10 list, available with <em>Stock Advisor</em>, and join an investing community built by individual investors for individual investors.</strong></p>
<div class="lb-trans"><p>现在值得注意的是，<em>Stock Advisor</em> 的总平均回报率为 936%——相比之下，标准普尔 500 指数的回报率为 189%。<strong>不要错过最新的前 10 名股票列表，加入由个人投资者为个人投资者建立的投资社区，获取 <em>Stock Advisor</em> 的最新信息。</strong></p>
</div><p><strong>See the 10 stocks »</strong></p>
<div class="lb-trans"><p><strong>查看这 10 只股票 »</strong></p>
</div><p><em>*Stock Advisor returns as of March 18, 2026.</em></p>
<div class="lb-trans"><p><em>*Stock Advisor 的回报截至 2026 年 3 月 18 日。</em></p>
</div><p><em>Billy Duberstein and/or his clients have positions in The Trade Desk. The Motley Fool has positions in and recommends The Trade Desk. The Motley Fool has a disclosure policy.</em></p>
<div class="lb-trans"><p><em>Billy Duberstein 和/或他的客户持有 The Trade Desk 的股份。Motley Fool 持有并推荐 The Trade Desk。Motley Fool 有披露政策。</em></p>
</div><p>The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.</p>
<div class="lb-trans"><p>此处表达的观点和意见是作者的观点和意见，并不一定反映 Nasdaq, Inc. 的观点。</p>
</div>

为什么 Trade Desk 的股价今天再次下跌