The Trade Desk, Inc. (NASDAQ: TTD) shares continue to trade below their recent highs even though the company reported solid fourth-quarter results this Wednesday.
Jefferies upgraded The Trade Desk
The Trade Desk is a global technology company that markets a software platform used by digital ad buyers to purchase data-driven digital advertising campaigns across various ad formats and devices.
The Trade Desk continues to improve its position in the market, and the fourth-quarter earnings results show that it is moving in the right direction.
Total revenue has increased by 23.7% Y/Y in the fourth fiscal quarter to $395.6 million, while the non- GAAP earnings per share were $0.42 (beats by $0.14).
Adjusted EBITDA has increased to $191.5 million from $152.9 million in the previous quarter, with a 48% margin, and non-GAAP net income rose to $208.1 million from $184.8 million. Jeff Green, CEO of The Trade Desk, added:
We remain committed to creating a better internet that is open, competitive, and fair for all participants. Major advertisers and partners around the world are embracing this vision as the global advertising market races toward a $1 trillion TAM. And as a result, more and more of them are gravitating to our platform.
Total revenue for the 2021 fiscal year grew 43% compared with the previous year, and the company continues to make major progress in areas such as CTV, identity, and retail data.
Despite this, fourth-quarter results disappointed some investors because this was the first time in the last six quarters that revenue growth dipped below 31%.
The company’s management expects revenue to be at least $303 million for the next fiscal quarter, while adjusted EBITDA should be between $90 million
