The Trade Desk (NASDAQ: TTD) stock price rebounded more than 60% after bottoming below $160 in March as the advertising platform has benefited from a surge in programmatic ad buying.
The California-based firm’s limited exposure to the travel industry, which is hit harder by the coronavirus pandemic, along with a strong customer retention rate of up to 95% over the past 24 quarters in a row have boosted sales over the last month.
Bullish commentary from brokers and price target hikes also supported the stock price upside in the last month. Needham provided a Buy rating while Oppenheimer raised The Trade Desk stock price target to $300 and maintained an Outperform rating.
The Trade Desk says it helps advertisers reach premium audiences globally through partners that includes big companies like Disney, Amazon, Channel 4, Spotify, TF1, ProSieben, Alibaba, Baidu, and Tencent.
The expectations for strong first-quarter numbers grew sharply since the industry titan Alphabet (NASDAQ: GOOG), which owns Google, topped analysts’ revenue expectations by almost $950m for the March quarter, with a year over year revenue growth of 13% to $41bn.
During the earnings call last month, Alphabet chief financial officer Ruth Porat said that the digital ad market was holding up relatively well during the coronavirus crisis.
The Trade Desk will release first-quarter results on Thursday, after market close. The company expects first-quarter revenue in the range of $169m while analysts’ consensus estimate of $160m, more than 30% growth from the same period a year ago.
The company has beaten earnings per share and revenue estimates virtually every time over the last two years. The stock trading chart clearly shows that the Trade Desk shares bounced the majority of times after beating the consensus estimates. Its shares are currently trading above $300.
If you plan to invest in stocks for a long time or interested in day trading, you can check out our featured stock brokers here.
Trusted & Regulated Stock & CFD Brokers
What we like
- 0% Fees on Stocks
- 5000+ Stocks, ETFs and other Markets
- Accepts Paypal Deposits
Min Deposit
$200
Charge per Trade
Zero Commission on real stocks
64 traders signed up today
Visit Now67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Available Assets
- Total Number of Stocks & Shares5000+
- US Stocks
- German Stocks
- UK Stocks
- European
- ETF Stocks
- IPO
- Funds
- Bonds
- Options
- Futures
- CFDs
- Crypto
Charge per Trade
- FTSE 100 Zero Commission
- NASDAQ Zero Commission
- DAX Zero Commission
- Facebook Zero Commission
- Alphabet Zero Commission
- Tesla Zero Commission
- Apple Zero Commission
- Microsoft Zero Commission
Deposit Method
- Wire Transfer
- Credit Cards
- Bank Account
- Paypall
- Skrill
- Neteller
What we like
- Sign up today and get $5 free
- Fractals Available
- Paypal Available
Min Deposit
$0
Charge per Trade
$1 to $9 PCM
Visit Now
Investing in financial markets carries risk, you have the potential to lose your total investment.
Available Assets
- Total Number of Shares999
- US Stocks
- German Stocks
- UK Stocks
- European Stocks
- EFTs
- IPOs
- Funds
- Bonds
- Options
- Futures
- CFDs
- Crypto
Charge per Trade
- FTSE 100 $1 - $9 per month
- NASDAQ $1 - $9 per month
- DAX $1 - $9 per month
- Facebook $1 - $9 per month
- Alphabet $1 - $9 per month
- Telsa $1 - $9 per month
- Apple $1 - $9 per month
- Microsoft $1 - $9 per month
Deposit Method
- Wire Transfer
- Credit Cards
- Bank Account
Share
Siraj Sarwar
