Trade Desk (TTD) continues to face an "uneven" macro environment, but management has expressed optimism about its ability to navigate challenging cycles, RBC Capital Markets said in a Thursday note.

The company is working on making its platform easier to use for clients through new and expanded products while creating a more quantitative value proposition, according to the investment firm.

The Zuma update for Trade Desk's Kokai platform will focus on user experience and is set to roll out in the next couple of weeks, RBC noted.

In terms of revenue growth, Trade Desk management is focused on delivering return on ad spend, as it sees long-term upside from investing in value creation rather than cutting fees, the brokerage said.

Management was also confident it could realign investments without compromising its longer-term revenue-growth opportunity, RBC added.

Even with the ongoing initiatives, RBC said Trade Desk's "path back to landing and expanding budget will still take time."

RBC maintained its sector perform rating and $15 price target on Trade Desk.

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