Is The Trade Desk Stock a Buy?
The digital advertising market has been growing at a robust pace. It is expected to generate almost $668 billion in revenue in 2024, up from last year's size of $600 billion. The good part is that the industry is expected to sustain its impressive growth in the future as well.
According to Oberlo.com, global spending on digital ads is forecast to hit almost $871 billion in 2027. The Trade Desk (NASDAQ: TTD) has been making the most of this fast-growing opportunity, with the company's growth rate improving this year thanks to the rising demand for its programmatic advertising platform.
Shares of the company have jumped 73% so far this year (as of this writing). However, The Trade Desk's rally came to a halt following the release of its third-quarter 2024 results on Nov. 7. More specifically, The Trade Desk stock dipped more than 5% following its quarterly report, despite better-than-expected numbers and solid guidance.
Source Fool.com
