Trade Desk (NASDAQ:TTD) Announces Earnings Results

Trade Desk (NASDAQ:TTD) announced its quarterly earnings data on Monday. The technology company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.29, FiscalAI reports. Trade Desk had a return on equity of 16.09% and a net margin of 13.61%. The firm had revenue of $735.97 million during the quarter, compared to the consensus estimate of $650.93 million.

Trade Desk Trading Up 15.5%

Shares of TTD stock traded up $2.00 during trading on Monday, reaching $14.93. 94,365,762 shares of the company’s stock traded hands, compared to its average volume of 20,209,564. The company has a market capitalization of $7.02 billion, a P/E ratio of 17.77, a PEG ratio of 1.40 and a beta of 0.98. The firm’s 50-day moving average is $13.06 and its 200 day moving average is $19.62. Trade Desk has a 1 year low of $11.62 and a 1 year high of $45.50.

Key Headlines Impacting Trade Desk

Here are the key news stories impacting Trade Desk this week:

• Positive Sentiment: For fiscal Q3, The Trade Desk reported earnings of $0.33 per share, versus analysts’ $0.04 estimate, and revenue of $735.97 million, ahead of the $650.93 million consensus. The strong beat helped fuel optimism that the business may be regaining momentum. The Trade Desk Stock Soars on Solid Q3 Print as Turnaround Takes Shape
• Positive Sentiment: Management forecast Q4 revenue of $755 million, well above the $692.3 million analyst estimate. That outlook suggests business is holding up better than the market expected. Why The Trade Desk Stock Skyrocketed Today
• Neutral Sentiment: Coverage also pointed to renewed investor hope following the return of co-founder and CTO Jeffrey Green. Separately, the company granted Green options covering 7 million shares; the grant is not evidence of an open-market purchase or sale. Trade Desk Handed CEO Jeffrey Green Options on 7 Million Shares Weeks Before Tonight’s Earnings
• Negative Sentiment: Despite the upbeat report, investors may remain cautious: TTD has faced slowing growth and stronger competition, and analysts had expressed skepticism about whether one quarter could reverse its prolonged downturn. Trade Desk’s ‘Lost Year’ Won’t Be Rescued by Earnings, Say Analysts

Analysts Set New Price Targets

A number of equities analysts recently weighed in on TTD shares. Rosenblatt Securities cut their price target on shares of Trade Desk from $24.00 to $12.00 and set a “neutral” rating on the stock in a report on Friday, August 7th. Benchmark restated a “buy” rating and set a $20.00 price objective (down from $30.00) on shares of Trade Desk in a report on Monday, August 3rd. Zacks Research raised shares of Trade Desk from a “strong sell” rating to a “hold” rating in a research report on Friday, October 9th. Wall Street Zen lowered shares of Trade Desk from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Finally, DA Davidson upgraded shares of Trade Desk to a “hold” rating in a research note on Monday, October 5th. Four investment analysts have rated the stock with a Buy rating, twenty-six have assigned a Hold rating and nine have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and an average target price of $18.16.

Trade Desk Company Profile

The Trade Desk, Inc provides a technology platform that helps advertisers and advertising agencies plan, buy, and measure digital advertising. Its self-service platform uses automated, data-driven tools to help clients purchase advertising inventory across channels such as connected TV, mobile, audio, and display.

The company also offers tools for campaign management, audience targeting, measurement, and access to data and advertising inventory. Its platform is designed to help clients manage campaigns across multiple media channels and publishers.

Founded in 2009 by Jeff Green and Dave Pickles, The Trade Desk serves clients in markets around the world.