Trade Desk's (TTD) share gains on Thursday after reports of a potential partnership to monetize OpenAI's ChatGPT inventory overestimate the financial impact of the deal, Wedbush analysts said in a Friday report.

Analysts said that while the reported partnership is a vital long-term strategic move against AI search cannibalization, the incremental value of the deal does not warrant the current share price.

The share price jump also ignores the inevitable demand-side platform dilution and disintermediation risks inherent in collaborating with a platform of OpenAI's scale, Wedbush said.

Analysts said that the immediate impact of the reported deal through 2027 will be immaterial to the company.

Wedbush said it does not expect Trade Desk's revenue to grow in lockstep with the growth of OpenAI's product.

Analysts downgraded the stock's rating to underperform from neutral, but retained a $23 price target.

Shares of the company were down over 2% in Friday trading.

Price: 28.81, Change: -0.98, Percent Change: -3.31