Did Investors Wait Too Long to Buy The Trade Desk Stock?
The Trade Desk (NASDAQ: TTD) stock surged higher following the release of its quarterly report for the fourth quarter of 2023. Amid those gains, it achieved a 52-week high before pulling back, taking it to a level last reached in the summer.
Still, with a higher stock price, valuations have become elevated, and the share price has reached a point from which it pulled back months earlier. Does that mean investors missed the opportunity to buy this stock at a reasonable price? Let's take a closer look.
You can easily see why investors were happy with The Trade Desk's latest earnings report. For 2023, revenue rose 23% yearly to more than $1.9 billion. While that was less than 2022's 32% increase, it still amounts to robust growth.
Source Fool.com
