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The Trade Desk (TTD) Suffers a Larger Drop Than the General Market: Key Insights
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In the latest trading session, The Trade Desk (TTD - Free Report) closed at $117.17, marking a -1.49% move from the previous day. The stock's performance was behind the S&P 500's daily loss of 0.92%. Meanwhile, the Dow experienced a drop of 0.96%, and the technology-dominated Nasdaq saw a decrease of 1.6%.
Shares of the digital-advertising platform operator witnessed a gain of 7.36% over the previous month, beating the performance of the Computer and Technology sector with its gain of 3.64% and the S&P 500's gain of 2.68%.
The investment community will be closely monitoring the performance of The Trade Desk in its forthcoming earnings report. The company is scheduled to release its earnings on November 7, 2024. The company is expected to report EPS of $0.40, up 21.21% from the prior-year quarter. Simultaneously, our latest consensus estimate expects the revenue to be $619.89 million, showing a 25.67% escalation compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $1.63 per share and revenue of $2.45 billion, which would represent changes of +29.37% and +25.78%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for The Trade Desk. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Currently, The Trade Desk is carrying a Zacks Rank of #3 (Hold).
In terms of valuation, The Trade Desk is currently trading at a Forward P/E ratio of 73.1. This valuation marks a premium compared to its industry's average Forward P/E of 39.16.
It's also important to note that TTD currently trades at a PEG ratio of 3.02. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. As the market closed yesterday, the Internet - Services industry was having an average PEG ratio of 2.32.
The Internet - Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 72, putting it in the top 29% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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The Trade Desk (TTD) Suffers a Larger Drop Than the General Market: Key Insights
In the latest trading session, The Trade Desk (TTD - Free Report) closed at $117.17, marking a -1.49% move from the previous day. The stock's performance was behind the S&P 500's daily loss of 0.92%. Meanwhile, the Dow experienced a drop of 0.96%, and the technology-dominated Nasdaq saw a decrease of 1.6%.
Shares of the digital-advertising platform operator witnessed a gain of 7.36% over the previous month, beating the performance of the Computer and Technology sector with its gain of 3.64% and the S&P 500's gain of 2.68%.
The investment community will be closely monitoring the performance of The Trade Desk in its forthcoming earnings report. The company is scheduled to release its earnings on November 7, 2024. The company is expected to report EPS of $0.40, up 21.21% from the prior-year quarter. Simultaneously, our latest consensus estimate expects the revenue to be $619.89 million, showing a 25.67% escalation compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $1.63 per share and revenue of $2.45 billion, which would represent changes of +29.37% and +25.78%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for The Trade Desk. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Currently, The Trade Desk is carrying a Zacks Rank of #3 (Hold).
In terms of valuation, The Trade Desk is currently trading at a Forward P/E ratio of 73.1. This valuation marks a premium compared to its industry's average Forward P/E of 39.16.
It's also important to note that TTD currently trades at a PEG ratio of 3.02. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. As the market closed yesterday, the Internet - Services industry was having an average PEG ratio of 2.32.
The Internet - Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 72, putting it in the top 29% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.