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Here's Why Shares of The Trade Desk (TTD) are Skyrocketing Today
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On Friday, shares of The Trade Desk (TTD - Free Report) , which provides a technology platform for ad buyers, are skyrocketing, up over 29%—and rising—in midday trading to $51.67 per share after the company reported strong first-quarter results that impressed investors.
The Trade Desk reported first-quarter earnings of 13 cents per share, which soared past the Zacks Consensus Estimate of a loss of 3 cents per share. Investors should note that this number excludes 2 cents from non-recurring items. Net income was $4.9 million.
Revenues for the quarter came in at $53.4 million, also significantly beating our consensus estimate of $43 million and increasing 76% year-over-year. Adjusted EBITDA of $6.3 million came in ahead of estimates as well, with adjusted EBITDA margin of 12% during Q1.
Mobile has become a huge driver for the company, increasing to over a third of gross spend for the quarter and highlighting the growing importance of this particular channel for advertisers. Mobile in-app grew nearly 150% during the first quarter from the prior year period, while mobile video surged over 200% during the same time period.
“Agencies and brands are becoming more holistic with their advertising strategies. They must think about coordinating all the channels and all the devices that they touch to the consumer. Programmatic gives them the power to choose more deliberately what to buy and how to message. Because of this shift to programmatic and the performance of our team, our year is off to a great start in what has historically been the most difficult quarter to predict,” said Jeff Green, founder and CEO of The Trade Desk.
Looking ahead, The Trade Desk has upped its guidance for fiscal 2017. The tech ad platform now expects revenues of $291 million, up from $270 million it was projecting three months ago. Adjusted EBITDA is now estimated between $72 million and $78 million.
The Trade Desk has been a Wall Street darling since its IPO last September, and the company has beaten analyst expectations in all three of its quarterly reports since its market debut. Currently, TTD is a #3 (Hold) on the Zacks Rank, with a VGM score of ‘D.’
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Here's Why Shares of The Trade Desk (TTD) are Skyrocketing Today
On Friday, shares of The Trade Desk (TTD - Free Report) , which provides a technology platform for ad buyers, are skyrocketing, up over 29%—and rising—in midday trading to $51.67 per share after the company reported strong first-quarter results that impressed investors.
The Trade Desk reported first-quarter earnings of 13 cents per share, which soared past the Zacks Consensus Estimate of a loss of 3 cents per share. Investors should note that this number excludes 2 cents from non-recurring items. Net income was $4.9 million.
Revenues for the quarter came in at $53.4 million, also significantly beating our consensus estimate of $43 million and increasing 76% year-over-year. Adjusted EBITDA of $6.3 million came in ahead of estimates as well, with adjusted EBITDA margin of 12% during Q1.
Mobile has become a huge driver for the company, increasing to over a third of gross spend for the quarter and highlighting the growing importance of this particular channel for advertisers. Mobile in-app grew nearly 150% during the first quarter from the prior year period, while mobile video surged over 200% during the same time period.
“Agencies and brands are becoming more holistic with their advertising strategies. They must think about coordinating all the channels and all the devices that they touch to the consumer. Programmatic gives them the power to choose more deliberately what to buy and how to message. Because of this shift to programmatic and the performance of our team, our year is off to a great start in what has historically been the most difficult quarter to predict,” said Jeff Green, founder and CEO of The Trade Desk.
Looking ahead, The Trade Desk has upped its guidance for fiscal 2017. The tech ad platform now expects revenues of $291 million, up from $270 million it was projecting three months ago. Adjusted EBITDA is now estimated between $72 million and $78 million.
The Trade Desk has been a Wall Street darling since its IPO last September, and the company has beaten analyst expectations in all three of its quarterly reports since its market debut. Currently, TTD is a #3 (Hold) on the Zacks Rank, with a VGM score of ‘D.’
Stocks that Aren't in the News. Yet.
You are invited to download the full, up-to-the-minute list of 220 Zacks Rank #1 "Strong Buys" free of charge. Many of these companies are almost unheard of by the general public and just starting to get noticed by Wall Street. They have been pinpointed by the Zacks system that nearly tripled the market from 1988 through 2015 with a stellar average gain of +26% per year. See these high-potential stocks free >>