Zinger Key Points
- Keybanc analyst Justin Patterson maintains Trade Desk with an Overweight and raises the price target from $84 to $100.
- The company expects first-quarter revenue of at least $478 million, above the $451.87 million estimate.
The Trade Desk, Inc. TTD shares are trading higher Friday after the company posted better-than-expected fourth-quarter financial results and issued strong guidance.
The Details:
The Trade Desk reported quarterly earnings of 41 cents per share which missed the analyst consensus estimate of 43 cents.
The company reported quarterly sales of $605.8 million, beating the analyst consensus estimate of $582.17 million and representing growth of 23.45% year over year.
The company also announced that it is expanding its share repurchase program by an additional $647 million.
The company expects first-quarter revenue of at least $478 million, above the $451.87 million estimate and adjusted EBITDA of approximately $130 million.
Keybanc maintained its Overweight rating on the stock and raised its price target from $84 to $100 following the print.
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TTD Stock Prediction 2030
Predicting the future in stock prices over long periods of time is challenging. Wall Street analysts use complex models that take into account interest rates, economic growth, competitive advantages, management teams and historical profitability, among a host of other factors.
If, as an investor, you want to assume most of the major factors remain stable, you can use trend analysis as a helpful tool. Using a longer term trend line or historical performance of the stock, you can aim to forecast a stock's annual rate of return.
For Trade Desk TTD, over the past 5 years, it's annualized stock performance is 36.17%, and if you assume that trend continues for another 5 years, you can expect a stock to trade at $417.42.
Using a trend line (see how to perform this function here), If you choose to use a trend line, connect your two points and look into the future to the point in time in which you're curious. Once you've identified that stock price, you may want to consider what type of conditions would need to exist for the stock to justify the share price – be it an outside influence or managerial decision making.
TTD Price Action: According to Benzinga Pro, Trade Desk shares are up 18.3% at $89.58 at the time of publication.
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