TTD - The Trade Desk Stock: Poised To Break Out (Technical Analysis)

2024-05-10 18:12:43 ET

Summary

• In the near term, I see good odds for The Trade Desk, Inc. stock to break out above the $100 resistance level.
• For the long term, its current price is actually discounted compared to its fair value despite the high P/E thanks to its growth potential.
• I expect robust EPS growth to be sustainably driven by The Trade Desk's unique platform, strong customer retention, and high ROCE.

Trade Desk stock: ready to challenge the $100 resistance level

The Trade Desk, Inc. ( TTD ) stock has been gaining momentum recently, as illustrated by the chart below. Its stock prices are up more than 38% in the past year, outperforming the S&P 500 Index (SP500) over the same time frame by a wide margin. Despite such large price advances, investors seem to remain very enthused about the company’s long-term prospects, as reflected by the 59x P/E they are willing to pay for the shares....

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