Is Trade Desk Stock a Buy Today While It's Down 33% YTD?
The darkening economic outlook has adversely impacted companies in the digital advertising space of late. Red-hot inflation, rising interest rates, and geopolitical concerns have caused businesses to tighten their purse strings, with the first step often being slashing their advertising budgets. In response to the latest trends, investors weren't very optimistic prior to Trade Desk's (NASDAQ: TTD) second-quarter earnings announcement, which occurred on Aug. 9.
Trade Desk offers a marketplace for consumers to buy different types of advertisements. It showed great resiliency in its most recent quarter, beating both analysts' top and bottom line estimates. Following its Q2 earnings call, Trade Desk stock jumped more than 30%, begging the question: Did investors miss out on all the big gains for the ad-tech company?
The stock has cooled down a bit since its post-earnings climb and year to date it's still down 33.4%. However, it's certainly worth having a look at Trade Desk today. Let's examine its current situation and determine if investors should consider it a buy right now.
Source Fool.com
