Stock Track | Trade Desk (TTD) Soars 5.45% Pre-Market on Strong Q3 Results and Upbeat Q4 Forecast

Stock Track
Nov 07

Shares of Trade Desk Inc. (TTD) are surging 5.45% in pre-market trading on Friday, following the company's impressive third-quarter earnings report and optimistic fourth-quarter revenue forecast. The ad-tech firm continues to demonstrate resilience in a challenging market environment, attracting investor attention.

Trade Desk reported third-quarter adjusted earnings per share of $0.45, surpassing analyst expectations of $0.20. Revenue for the quarter climbed 18% year-over-year to $739 million, exceeding the consensus estimate of $719.55 million. The company's performance was bolstered by strong demand for its AI-powered Kokai platform and improving ad spend across various sectors, including medical, auto, and tech verticals.

Adding to the positive sentiment, Trade Desk forecasts fourth-quarter revenue of at least $840 million, surpassing the average analyst estimate of $830.2 million. This upbeat guidance suggests continued momentum in the company's business operations. However, despite the strong results and outlook, several analysts have adjusted their price targets for TTD. Notably, RBC cut its target price to $80 from $90, while Needham lowered its target to $60 from $84. These adjustments reflect the broader market challenges faced by ad-tech companies, even as Trade Desk outperforms expectations.

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