Shares of The Trade Desk (NASDAQ: TTD), an advertising platform company, were plunging today after an analyst at Jefferies downgraded the company's stock and lowered his price target for its shares. 

The tech stock was down by 7.8% as of 1:32 p.m. ET. 

Jefferies analyst James Heaney downgraded The Trade Desk to a hold rating, down from his previous buy rating today. Heaney also lowered his price target for the company's stock to $55, down from $65. 

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Source Fool.com