The Trade Desk Stock: Headed to $105?
Even as a handful of analysts' upgraded their 12-month price targets for The Trade Desk (NASDAQ: TTD) shares following the adtech company's second-quarter earnings report earlier this month, the stock is down sharply in August. In total, shares have fallen about 18%. Is this a buying opportunity?
While ownership of a tech stock like The Trade Desk is bound to give investors a rollercoaster ride, analysts may be right: It looks like a great time to buy into this fast-growing company's growth story.
The Trade Desk reported stellar second-quarter results. Highlighting its business momentum, revenue increased 23% year over year to $464 million. This was an acceleration compared to 21% year-over-year growth in Q1. Over the same period, net income swung from a loss of $0.04 to a profit of $0.07. Non-GAAP earnings per share increased from $0.20 in the year-ago period to $0.28. Second-quarter revenue and adjusted earnings per share beat analysts' average estimates for $455 million and $0.26, respectively.
Source Fool.com
