Why The Trade Desk Stock Is Skyrocketing This Week
Shares of The Trade Desk (NASDAQ: TTD) have gained 33.6% so far this week, according to data from S&P Global Market Intelligence. The manager of digital ad-buying platforms posted analyst-stumping third-quarter results on Monday, followed by an avalanche of bullish analyst reactions.
The Trade Desk's top-line revenues rose 39% year over year to $301 million, while your average analyst would have settled for sales near $284 million. Adjusted earnings increased by 38% to $0.18 per diluted share, also leaving the consensus Street estimate behind at $0.15 per share.
Management highlighted strong ad-buyer demand for data-driven marketing campaigns. The recently launched Solimar service taps into the market's thirst for data-based solutions by consolidating The Trade Desk's older ad-targeting and performance-measurement tools into a single interface. This way, clients have easy access to ad-efficiency data right next to their tools for launching new marketing ideas.
Source Fool.com
