<h2>關鍵點</h2>
<ul>
<li>今日，華爾街分析師對 <strong>The Trade Desk</strong> 進行了多次下調評級。</li>
<li>這緊隨昨日報道，一家主要客户建議其客户避免使用 The Trade Desk 的軟件。</li>
<li>儘管有否認，但該報道對 The Trade Desk 在廣告代理客户中的地位產生了懷疑。</li>
<li>我們更看好的 10 只股票 ›</li>
</ul>
<p>程序化廣告軟件公司 <strong>The Trade Desk</strong>（NASDAQ: TTD）的股價今天再次下跌，截至東部時間中午 12:49，下跌 6%。</p>
<p>最近，The Trade Desk 的股票經歷了劇烈波動，主要是負面的。昨日，該公司收到壞消息，一家行業出版物報道一家主要廣告代理商告知客户避免使用 The Trade Desk 平台。今天，兩位華爾街分析師因此下調了該股的目標價。</p>
<p><em><strong>人工智能會創造出世界上第一個萬億富翁嗎？</strong> 我們的團隊剛剛發佈了一份關於一家鮮為人知的公司報告，該公司被稱為 “不可或缺的壟斷”，提供 Nvidia 和 Intel 都需要的關鍵技術。<strong>繼續 »</strong></em></p>
<h2>Publicis 將 The Trade Desk 推向風口浪尖</h2>
<p>昨日，廣告行業出版物 <em>Ad Age</em> 報道，法國廣告公司 <strong>Publicis Group</strong>（OTC: PUBGY）最近指示客户避免使用 The Trade Desk 的需求方廣告軟件。根據報道，一項由 Publicis 資助的第三方審計發現，The Trade Desk 違反了協議，存在超額收費和未經客户同意就為其註冊額外功能的情況。</p>
<p>這一消息導致 The Trade Desk 的股價昨日下跌，儘管 Publicis 和 The Trade Desk 均未確認該報道。Publicis 沒有回應評論請求，而 The Trade Desk 則發表聲明稱：“我們知道與 Publicis 審計過程相關的問題。任何關於 TTD 未通過審計的説法都不屬實。”</p>
<p>儘管如此，這些否認並未阻止賣方分析師今天下調股票評級和目標價。<strong>Stifel</strong> 的分析師將 TTD 股票的評級從 “買入” 下調至 “持有”，並將目標價從 48 美元下調至 26 美元。Stifel 分析師指出，Publicis 是 The Trade Desk 最大的客户，佔其總賬單的超過 10%。</p>
<p>此外，賣方研究公司 Rosenblatt 也將該股評級下調至 “持有”，並將目標價下調至 25 美元。Rosenblatt 指出，Publicis 的指控可能象徵着廣告代理商對 The Trade Desk 採取更對抗的態度，因為這些代理商自身面臨財務壓力。</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>圖片來源：Getty Images。</p>
<h2>The Trade Desk 仍處於困境</h2>
<p>The Trade Desk 的股票在過去一年中大幅下跌，其市盈率收縮至合理水平，可能為投資者創造了機會。事實上，本月早些時候，因 AI 領導者 OpenAI 可能正在與 The Trade Desk 測試廣告策略，該股曾大幅上漲。</p>
<p>然而，AI 的採用似乎可能在傷害 The Trade Desk 的傳統客户的同時，也幫助其尋找新客户。在這一行業變動中，廣告科技公司的股票變得波動不定，其曾經高企的市盈率在不確定性中收縮。</p>
<h2>現在應該購買 The Trade Desk 的股票嗎？</h2>
<p>在你購買 The Trade Desk 的股票之前，請考慮以下幾點：</p>
<p><em>Motley Fool Stock Advisor</em> 的分析師團隊剛剛確定了他們認為的 <strong>10 只最佳股票</strong>，供投資者現在購買……而 The Trade Desk 並不在其中。這 10 只入選的股票在未來幾年可能會產生鉅額回報。</p>
<p>考慮一下 <strong>Netflix</strong> 在 2004 年 12 月 17 日上榜時……如果你在我們推薦時投資了 1,000 美元，<strong>你現在將擁有 508,877 美元</strong>！* 或者 <strong>Nvidia</strong> 在 2005 年 4 月 15 日上榜時……如果你在我們推薦時投資了 1,000 美元，<strong>你現在將擁有 1,115,328 美元</strong>！*</p>
<p>現在值得注意的是，<em>Stock Advisor</em> 的總平均回報率為 936%——相比之下，標準普爾 500 指數的回報率為 189%。<strong>不要錯過最新的前 10 名股票列表，加入由個人投資者為個人投資者建立的投資社區，獲取 <em>Stock Advisor</em> 的最新信息。</strong></p>
<p><strong>查看這 10 只股票 »</strong></p>
<p><em>*Stock Advisor 的回報截至 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 持有並推薦 The Trade Desk。Motley Fool 有披露政策。</em></p>
<p>此處表達的觀點和意見是作者的觀點和意見，並不一定反映 Nasdaq, Inc. 的觀點。</p>

埃培智

標普軟件與服務 ETF - SPDR

北美科技軟件股指數 ETF - iShares

TTDU

<p>Trade Desk 的股票今天下跌了 6%，原因是華爾街分析師下調了評級，報告顯示主要客户 Publicis 建議客户避免使用其軟件。儘管 Trade Desk 否認了任何不當行為，但這一消息引發了人們對其與廣告代理關係的擔憂。Stifel 和 Rosenblatt 的分析師下調了對該股票的評級和目標價，反映出在財務壓力下廣告代理的對抗態度更加明顯。該股票波動性較大，估值在廣告科技行業的不確定性中收縮</p>

<h2>Key Points</h2>
<div class="lb-trans"><h2>關鍵點</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，華爾街分析師對 <strong>The Trade Desk</strong> 進行了多次下調評級。</li>
<li>這緊隨昨日報道，一家主要客户建議其客户避免使用 The Trade Desk 的軟件。</li>
<li>儘管有否認，但該報道對 The Trade Desk 在廣告代理客户中的地位產生了懷疑。</li>
<li>我們更看好的 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>程序化廣告軟件公司 <strong>The Trade Desk</strong>（NASDAQ: TTD）的股價今天再次下跌，截至東部時間中午 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 的股票經歷了劇烈波動，主要是負面的。昨日，該公司收到壞消息，一家行業出版物報道一家主要廣告代理商告知客户避免使用 The Trade Desk 平台。今天，兩位華爾街分析師因此下調了該股的目標價。</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>人工智能會創造出世界上第一個萬億富翁嗎？</strong> 我們的團隊剛剛發佈了一份關於一家鮮為人知的公司報告，該公司被稱為 “不可或缺的壟斷”，提供 Nvidia 和 Intel 都需要的關鍵技術。<strong>繼續 »</strong></em></p>
</div><h2>Publicis throws The Trade Desk under the bus</h2>
<div class="lb-trans"><h2>Publicis 將 The Trade Desk 推向風口浪尖</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，廣告行業出版物 <em>Ad Age</em> 報道，法國廣告公司 <strong>Publicis Group</strong>（OTC: PUBGY）最近指示客户避免使用 The Trade Desk 的需求方廣告軟件。根據報道，一項由 Publicis 資助的第三方審計發現，The Trade Desk 違反了協議，存在超額收費和未經客户同意就為其註冊額外功能的情況。</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>這一消息導致 The Trade Desk 的股價昨日下跌，儘管 Publicis 和 The Trade Desk 均未確認該報道。Publicis 沒有回應評論請求，而 The Trade Desk 則發表聲明稱：“我們知道與 Publicis 審計過程相關的問題。任何關於 TTD 未通過審計的説法都不屬實。”</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>儘管如此，這些否認並未阻止賣方分析師今天下調股票評級和目標價。<strong>Stifel</strong> 的分析師將 TTD 股票的評級從 “買入” 下調至 “持有”，並將目標價從 48 美元下調至 26 美元。Stifel 分析師指出，Publicis 是 The Trade Desk 最大的客户，佔其總賬單的超過 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，賣方研究公司 Rosenblatt 也將該股評級下調至 “持有”，並將目標價下調至 25 美元。Rosenblatt 指出，Publicis 的指控可能象徵着廣告代理商對 The Trade Desk 採取更對抗的態度，因為這些代理商自身面臨財務壓力。</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>圖片來源：Getty Images。</p>
</div><h2>The Trade Desk remains in limbo</h2>
<div class="lb-trans"><h2>The Trade Desk 仍處於困境</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 的股票在過去一年中大幅下跌，其市盈率收縮至合理水平，可能為投資者創造了機會。事實上，本月早些時候，因 AI 領導者 OpenAI 可能正在與 The Trade Desk 測試廣告策略，該股曾大幅上漲。</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 的採用似乎可能在傷害 The Trade Desk 的傳統客户的同時，也幫助其尋找新客户。在這一行業變動中，廣告科技公司的股票變得波動不定，其曾經高企的市盈率在不確定性中收縮。</p>
</div><h2>Should you buy stock in The Trade Desk right now?</h2>
<div class="lb-trans"><h2>現在應該購買 The Trade Desk 的股票嗎？</h2>
</div><p>Before you buy stock in The Trade Desk, consider this:</p>
<div class="lb-trans"><p>在你購買 The Trade Desk 的股票之前，請考慮以下幾點：</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> 的分析師團隊剛剛確定了他們認為的 <strong>10 只最佳股票</strong>，供投資者現在購買……而 The Trade Desk 並不在其中。這 10 只入選的股票在未來幾年可能會產生鉅額回報。</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>考慮一下 <strong>Netflix</strong> 在 2004 年 12 月 17 日上榜時……如果你在我們推薦時投資了 1,000 美元，<strong>你現在將擁有 508,877 美元</strong>！* 或者 <strong>Nvidia</strong> 在 2005 年 4 月 15 日上榜時……如果你在我們推薦時投資了 1,000 美元，<strong>你現在將擁有 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>現在值得注意的是，<em>Stock Advisor</em> 的總平均回報率為 936%——相比之下，標準普爾 500 指數的回報率為 189%。<strong>不要錯過最新的前 10 名股票列表，加入由個人投資者為個人投資者建立的投資社區，獲取 <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>查看這 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 的回報截至 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 持有並推薦 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>此處表達的觀點和意見是作者的觀點和意見，並不一定反映 Nasdaq, Inc. 的觀點。</p>
</div>

為什麼 Trade Desk 的股價今天再次下跌