TTD - Can The Trade Desk Stock Continue Soaring for the Next 3 Years?
2024-02-24 07:35:00 ET
Share prices of The Trade Desk (NASDAQ: TTD) shot up an impressive 17% following its latest quarterly report. This wasn't surprising, as the company's outlook for the current quarter turned out to be significantly better than expectations.
The programmatic advertising platform provider released fourth-quarter 2023 results on Feb. 15. Its revenue increased 23% year over year to $606 million, exceeding the consensus estimate of $582 million by a comfortable margin. The Trade Desk's non- GAAP earnings of $0.41 per share, however, increased at a slower pace of 9% year over year to $0.41 per share, missing the Wall Street estimate of $0.43 per share.
However, investors looked past the bottom-line miss, as The Trade Desk management's guidance was solid and points toward an acceleration in growth. Let's take a closer look at what's going to drive the improvement in the company's growth, and check whether the stock can sustain its newly found momentum and deliver healthy gains to investors over the next three years.
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Can The Trade Desk Stock Continue Soaring for the Next 3 Years?