The Trade Desk (TTD:NSD) shares surged more than 8% in pre-market trading as the company beat analysts’ Q4 earnings estimates. The programmatic advertising tech firm reported adjusted earnings of $0.38 per share, surpassing the consensus estimate of $0.36.
Despite missing revenue expectations by $1.1 million, the company’s Q4 revenue increased by 24% YoY to $491 million. The Trade Desk also announced its Board of Directors authorization of a stock buyback of up to $700 million of its Class A common stock.
For the next quarter, the management forecasts at least $363 million in revenues, beating consensus estimates of $362.8 million, and adjusted EBITDA of approximately $78 million.
Trade Desk Stock Forecast:
According to 16 analysts, the average analyst target price for The Trade Desk stock is USD 58.76 over the next 12 months. The company’s average analyst rating is Buy.
Stock Target Advisor’s own analysis of The Trade Desk stock is Slightly Bullish, based on seven positive signals and five negative signals. The company’s stock price was USD 49.92 at the last closing, changing by -5.28% over the past week, +6.15% over the past month, and -34.75% over the last year.
Trade Desk, Inc. operates as a technology company in the United States and internationally.
The company operates a self-service cloud-based platform that allows buyers to create, manage, and optimize data-driven digital advertising campaigns across various ad formats and channels, including display, video, audio, native, and social on various devices, such as computers, mobile devices, and connected TV.
It also provides data and other value-added services. The company serves advertising agencies and other service providers for advertisers. The Trade Desk, Inc. was incorporated in 2009 and is headquartered in Ventura, California.