The Trade Desk Is Buying Back Its Stock Aggressively. Should You Buy Shares, Too?
The Trade Desk (NASDAQ: TTD) put any doubts about the company's ability to continue growing rapidly during this challenging macroeconomic environment to rest on Wednesday. The ad tech company, which provides a platform to help marketers and advertising agencies get the most out of every dollar of ad spend by buying digital ads programmatically, reported 21% year-over-year revenue growth in Q1. This was, once again, far greater than the growth rates seen by many of The Trade Desk's digital advertising peers, including and Meta Platforms.
While the company's strong growth rate was impressive, there was arguably a more important yet easily overlooked takeaway from the quarterly update: The Trade Desk used its recently announced share repurchase authorization to aggressively buy back its stock. Indeed, at the rate the company is buying back its stock, the program could be fully exhausted by the end of Q2.
Here's what investors should know about the purchases and the buyback program overall.
Source Fool.com
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