Trade Desk's Workforce Cut First Step to Optimize Operation, RBC Says

11:28 AM EDT, 09/09/2026 (MT Newswires) -- Trade Desk's (TTD) workforce cut of 15% is the first step to optimize its operation, with further non-headcount cost-cutting efforts still to come, RBC Capital Markets said in a Tuesday note. The report said the headcount reduction should equate to roughly 600 employees, which would be a cost-savings of about $150 million into 2027. RBC analysts raised their 2027 adjusted EBITDA estimate to $651 million from $501 million following the move. "We feel these are necessary steps to right size the model for the current growth trajectory," the report said, adding that focus will now be on the firm's ability to stabilize revenue growth. RBC maintained its sector perform rating with a $15 price target. Price: 13.85, Change: -0.17, Percent Change: -1.25