The Trade Desk Stock Proves Mortal After Earnings
The Trade Desk's (NASDAQ: TTD) streak of moving higher the week it reports quarterly results appears to be coming to an end. Shares of the programmatic advertising specialist initially moved lower on Thursday afternoon after the company posted third-quarter results. The financial report exceeded The Trade Desk's earlier guidance, but its outlook for the current quarter is coming in a bit light.
Revenue rose 50%, to $79.4 million for the quarter, well ahead of the $76 million it was targeting three months ago. The Trade Desk is singling out several countries -- Spain, France, Singapore, Germany, Korea, and Indonesia -- where top-line results more than doubled. Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) soared 47%, to hit $24.4 million, also barreling through the $21 million it was modeling back in August.
The Trade Desk doesn't offer up bottom-line guidance, but adjusted net income rose 63%, to $15.3 million, or $0.35 a share. The performance has all the makings of another blowout performance for The Trade Desk -- but then we get to its problematic guidance.
Source: Fool.com
Trade Desk Inc Stock
The stock is one of the favorites of our community with 47 Buy predictions and 4 Sell predictions.
As a result the target price of 93 € shows a slightly positive potential of 4.14% compared to the current price of 89.3 € for Trade Desk Inc.
