2024-07-30 04:30:00 ET
The Trade Desk (NASDAQ: TTD) has generated impressive gains since its initial public offering in September 2016. The adtech company went public at a split-adjusted price of $1.80, reached a record high of $111.64 on Nov. 16, 2021, and eventually pulled back to about $92 today. That rally would still have turned a $20,000 investment into $1.02 million.
Investors might be reluctant to buy the stock after those massive gains, and it doesn't look cheap at 119 times forward earnings and 19 times this year's sales . However, I believe The Trade Desk deserves its premium valuation for three simple reasons.
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For further details see:
3 Reasons to Buy The Trade Desk Stock Like There's No Tomorrow