Trade Desk Inc Stock Research

Market Summary

USD67.67+1.41

Market Closed

2.13%

TTD Alerts

2 major insider sales recently.
Big jump in Earnings (Y/Y)

TTD Stock Price

TTD RSI Chart

TTD Valuation

Market Cap

29.9B

Price/Earnings (Trailing)

559.4

Price/Sales (Trailing)

18.93

EV/EBITDA

148.2

Price/Free Cashflow

64.28

TTD Price/Sales (Trailing)

TTD Profitability

EBT Margin

8.07%

Return on Equity

2.52%

Return on Assets

1.22%

Free Cashflow Yield

1.56%

TTD Fundamentals

TTD Revenue

Revenue (TTM)

1.6B

Revenue Y/Y

21.4%

Revenue Q/Q

-21.99%

TTD Earnings

Earnings (TTM)

77.3M

Earnings Y/Y

163.89%

Earnings Q/Q

-86.9%

Price Action

52 Week Range

39.0076.75

(Low)(High)

Last 7 days

1.3%

Last 30 days

12.8%

Last 90 days

23.1%

Trailing 12 Months

38.0%

TTD Financial Health

Current Ratio

1.9

TTD Investor Care

Shares Dilution (1Y)

2.06%

Diluted EPS (TTM)

0.16

Peers (Alternatives to Trade Desk)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
MSFT	2.5T	207.6B	12.70%	25.81%	35.87	11.93	7.81%	-4.74%
ORCL	281.0B	48.0B	11.07%	46.64%	33.56	5.86	14.66%	10.75%
ADBE	190.7B	18.0B	14.41%	1.66%	40.25	10.59	11.50%	-1.86%
AZPN	-	-	-29.25%	-13.98%	-	-	-	-
CRM	217.4B	31.4B	12.49%	32.61%	1.0K	6.93	19.41%	-85.60%
ZM	20.5B	4.4B	7.88%	-38.07%	198.13	4.68	7.15%	-92.46%
MID-CAP
APPN	2.9B	489.0M	13.36%	-11.92%	-19.47	6.28	23.89%	-67.60%
MANH	11.1B	809.1M	8.18%	50.50%	81.07	13.74	17.99%	15.82%
GWRE	6.7B	869.9M	8.60%	1.58%	-39.92	7.66	13.87%	-28.82%
PING	2.4B	-	1.17%	7.67%	-23.16	7.93	-	-
SMALL-CAP
MODN	1.2B	236.1M	-5.38%	28.14%	-22.42	4.91	13.87%	-83.31%
ZUO	1.1B	396.1M	29.79%	5.39%	-5.73	2.87	14.23%	-99.11%
UPLD	92.8M	315.6M	-17.82%	-77.71%	-0.5	0.29	2.89%	-207.54%

Financials for Trade Desk

* denotes actual numbers (not divided by Millions)
Income Statement (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Revenue	4.3%	1,645	1,578	1,483	1,389	1,292
S&GA Expenses	7.9%	365	338	318	292	264
R&D Expenses	6.8%	342	320	298	274	244
EBITDA	394.5%	195	39.00	82.00	131	-
EBITDA Margin	364.6%	0.12*	0.03*	0.06*	0.10*	-
Earnings Before Taxes	6.1%	135	127	-11.33	37.00	97.00
EBT Margin	1156.2%	0.08*	-0.01*	0.03*	0.07*	-
Interest Expenses	1405.9%	13.00	1.00	-1.21	-2.06	-
Net Income	44.8%	77.00	53.00	-9.76	34.00	101
Net Income Margin	613.8%	0.03*	-0.01*	0.02*	0.08*	-
Free Cahsflow	-5.5%	465	491	482	400	-

Balance Sheet					(In Millions)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Assets	-8.7%	4,000	4,381	3,924	3,673	3,433
Current Assets	-9.6%	3,476	3,846	3,415	3,196	2,955
Cash Equivalents	-13.4%	893	1,031	995	933	844
Net PPE	-1.9%	170	174	166	139	131
Liabilities	-9.1%	2,059	2,265	2,010	1,893	1,784
Current Liabilities	-9.8%	1,830	2,029	1,785	1,665	1,546
Shareholder's Equity	-8.3%	1,941	2,115	1,914	1,780	1,649
Retained Earnings	-42.6%	382	666	594	578	598
Additional Paid-In Capital	7.5%	1,559	1,450	1,320	1,201	1,052
Shares Outstanding	0.3%	488	486	484	-	-

Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Cashflow From Operations	7.5%	590	549	539	531	450
Share Based Compensation	-2.3%	487	499	577	490	410
Cashflow From Investing	12.6%	-265	-304	-161	-123	-124
Cashflow From Financing	-961.9%	-275	32.00	41.00	48.00	47.00

Risks for TTD

What is the probability of a big loss on TTD?

100%

Probability that Trade Desk stock will be more than 20% underwater in next one year

81.5%

Probability that Trade Desk stock will be more than 30% underwater in next one year.

60%

Probability that Trade Desk stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does TTD drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Trade Desk was unfortunately bought at previous high price.

Drawdowns

Returns for TTD

Cumulative Returns on TTD

52.3%

5-Year Cumulative Returns

31.3%

3-Year Cumulative Returns

What are the long-term rolling returns for TTD?

FIve years rolling returns for Trade Desk.

Annualized Returns

Which funds bought or sold TTD recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-05-23	Toroso Investments, LLC	added	146	2,634,000	3,756,000	0.06%
2023-05-23	Capital Impact Advisors, LLC	sold off	-100	-180,396	-	-%
2023-05-23	Seaport Global Advisors, LLC	reduced	-30.36	-11,813	207,764	0.66%
2023-05-23	BROOKFIELD Corp /ON/	sold off	-100	-2,410,150	-	-%
2023-05-22	PUTNAM INVESTMENTS LLC	added	26.45	2,089,830	5,000,100	0.01%
2023-05-22	EMC Capital Management	added	700	432,000	477,000	0.40%
2023-05-22	AMERIPRISE FINANCIAL INC	added	6.7	48,623,100	156,779,000	0.05%
2023-05-22	CTC LLC	new	-	1,281,660	1,281,660	-%
2023-05-19	Trivant Custom Portfolio Group, LLC	new	-	77,782	77,782	0.06%
2023-05-19	Coppell Advisory Solutions LLC	sold off	-100	-7,173	-	-%

Latest Funds Activity

Are funds buying TTD calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own TTD

No. of Funds

Trade Desk News

Schedule 13G FIlings of Trade Desk

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 14, 2023	ameriprise financial inc	0.58%	2,556,608	SC 13G/A
Feb 09, 2023	vanguard group inc	9.14%	40,691,898	SC 13G/A
Jan 23, 2023	baillie gifford & co	10.59%	47,175,426	SC 13G/A
Jan 06, 2023	blackrock inc.	4.8%	21,314,127	SC 13G/A
Feb 14, 2022	prudential financial inc	2.92%	0	SC 13G/A
Feb 14, 2022	ameriprise financial inc	9.07%	3,787,125	SC 13G
Feb 11, 2022	morgan stanley	6.4%	28,033,804	SC 13G
Feb 10, 2022	jennison associates llc	2.9%	12,570,783	SC 13G/A
Feb 03, 2022	blackrock inc.	5.2%	22,577,414	SC 13G/A
Jan 27, 2022	baillie gifford & co	12.23%	53,353,398	SC 13G/A

TTD Fair Value

Recent SEC filings of Trade Desk

View All Filings

Date Filed	Form Type	Document
May 17, 2023	4	Insider Trading
May 17, 2023	4	Insider Trading
May 17, 2023	4	Insider Trading
May 15, 2023	144	Notice of Insider Sale Intent
May 10, 2023	10-Q	Quarterly Report
May 10, 2023	8-K	Current Report
May 03, 2023	4	Insider Trading
May 01, 2023	144	Notice of Insider Sale Intent
Apr 26, 2023	4	Insider Trading
Apr 26, 2023	4	Insider Trading

Latest Insider Trading transactions for TTD

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-05-15	GRANT JAY R	sold (taxes)	-212,606	63.98	-3,323	chief legal officer
2023-05-15	Pickles David Randall	acquired	60,602	30.001	2,020	chief technology officer
2023-05-15	GRAYSON BLAKE JEFFREY	sold (taxes)	-202,561	63.98	-3,166	chief financial officer
2023-05-15	Pickles David Randall	sold	-125,785	62.27	-2,020	chief technology officer
2023-05-15	Pickles David Randall	sold (taxes)	-279,337	63.98	-4,366	chief technology officer
2023-05-01	Pickles David Randall	acquired	54,248	26.334	2,060	chief technology officer
2023-05-01	Pickles David Randall	sold	-131,160	63.67	-2,060	chief technology officer
2023-04-24	Pickles David Randall	acquired	-	-	59,665	chief technology officer
2023-04-24	Green Jeffrey Terry	acquired	-	-	213,092	president and ceo
2023-04-24	GRAYSON BLAKE JEFFREY	acquired	-	-	93,760	chief financial officer

About Trade Desk

Jeffrey T. Green

www.thetradedesk.com

1970

Trade Desk, Inc. operates as a technology company in the United States and internationally. The company operates a self-service cloud-based platform that allows buyers to create, manage, and optimize data-driven digital advertising campaigns across various ad formats and channels, including display, video, audio, native, and social on various devices, such as computers, mobile devices, and connected TV. It also provides data and other value-added services. The company serves advertising agencies and other service providers for advertisers. The Trade Desk, Inc. was incorporated in 2009 and is headquartered in Ventura, California.

TTD Income Statement

2023-03-31

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Income Statement [Abstract]
Revenue	$ 382,803	$ 315,323
Operating expenses:
Platform operations	84,867	63,890
Sales and marketing	97,222	70,688
Technology and development	93,710	71,999
General and administrative	130,312	125,799
Total operating expenses	406,111	332,376
Loss from operations	(23,308)	(17,053)
Other expense (income):
Interest expense (income), net	(14,423)	1,076
Foreign currency exchange loss (gain), net	723	(795)
Total other expense (income), net	(13,700)	281
Loss before income taxes	(9,608)	(17,334)
Benefit from income taxes	(18,934)	(2,736)
Net income (loss)	$ 9,326	$ (14,598)
Earnings (loss) per share:
Basic (in dollars per share)	$ 0.02	$ (0.03)
Diluted (in dollars per share)	$ 0.02	$ (0.03)
Weighted-average shares outstanding:
Basic (in shares)	489,712	484,190
Diluted (in shares)	499,795	484,190

TTD Balance Sheet

2023-03-31

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 892,702	$ 1,030,506
Short-term investments, net	437,730	416,080
Accounts receivable, net of allowance for credit losses of $10,792 and $10,477 as of March 31, 2023 and December 31, 2022, respectively	2,086,332	2,347,195
Prepaid expenses and other current assets	59,101	51,836
TOTAL CURRENT ASSETS	3,475,865	3,845,617
Property and equipment, net	170,454	173,759
Operating lease assets	212,042	220,396
Deferred income taxes	94,028	94,028
Other assets, non-current	47,249	46,879
TOTAL ASSETS	3,999,638	4,380,679
Current liabilities:
Accounts payable	1,677,154	1,871,419
Accrued expenses and other current liabilities	100,146	105,474
Operating lease liabilities	53,054	52,430
TOTAL CURRENT LIABILITIES	1,830,354	2,029,323
Operating lease liabilities, non-current	200,728	208,527
Other liabilities, non-current	27,749	27,490
TOTAL LIABILITIES	2,058,831	2,265,340
Commitments and contingencies (Note 11)
STOCKHOLDERS’ EQUITY
Preferred stock, par value $0.000001; 100,000 shares authorized, zero shares issued and outstanding as of March 31, 2023 and December 31, 2022	0	0
Common stock, par value $0.000001 Class A, 1,000,000 shares authorized; 444,158 and 446,456 shares issued and outstanding as of March 31, 2023 and December 31, 2022, respectively Class B, 95,000 shares authorized; 44,036 and 44,012 shares issued and outstanding as of March 31, 2023 and December 31, 2022, respectively	0	0
Additional paid-in capital	1,558,830	1,449,825
Retained earnings	381,977	665,514
TOTAL STOCKHOLDERS’ EQUITY	1,940,807	2,115,339
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 3,999,638	$ 4,380,679