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- The Trading Desk CEO is positive regarding the company’s future.
- Company revealed an increased profit margin during Q3 2022 financials.
- TTD stock was trading at the market price of $51.42.
TTD to Outperform The Rivals
The Trading Desk (NASDAQ: TTD) has become one of the most popular companies in the digital marketing industry. Currently, their competitors remain DoubleClick by Google, FacebookAds and more. The TTD stock was down by 4% in the last 24 hours, changing hands at $51.42 at the publication time. Recently, the founder and CEO of the organization, expressed his excitement regarding the company’s prospects.
He compared his company with the competitors, saying that the firm’s third quarter financials showed 31% growth. Additionally, he said that the company is outperforming other competitors in the sector in a challenging macroenvironment. While the company was immune from various macro challenges and thinks that they will keep up the momentum.
The company experienced a loss in the initial couple of quarters. They shed $14.6 Million during Q1 2022 and went further down to lose $19.07 Million in Q2 2022. Recent quarter financials proved fruitful, but did not cover the previous damage. TTD generated a net income of $15.87 Million, increasing their profit margin to 4.02% in Q3 2022.
They had a better than estimated EPS in contrast to the previous quarter. The organization also revealed $0.26 earnings per share, a 15.3% surprise from their estimated EPS. Same goes with the revenue as the firm generated $394.77 Million this quarter. The company expects a better revenue in the final quarter this year.
TTD Stock Price Action
TTD stock maintained a resistance level of $76 throughout the year. The price broke the levels during the first quarter, where it traded the highest at $93.26 during January 2022. The price broke a couple of times during February and March before settling down the support. It struggled during April 2022 to reach the resistance level again but failed to surpass the zone.
Since then TTD stock took support at $39 and bounced off the surface a couple of times during May 2022. The share deflected off the resistance in August, where it traded as high as $76.75. Analysts at TradingView have a buy rating for the share, and a maximum 1 year forecast to price reaching $90 levels.
TTD stock traded the year’s high at $93.26 during January 2022. In July, the company announced a partnership with Walt Disney (NYSE: DIS). According to the reports, the entertainment company was to move 50% of their advertising sales to automated buying.
Experts believe that the digital marketing sector will grow to become a $700 Billion sector by 2025. FacebookAds and Google currently hold the top in terms of highest return on investment in the sector.
Anurag is working as a fundamental writer for The Coin Republic since 2021. He likes to exercise his curious muscles and research deep into a topic. Though he covers various aspects of the crypto industry, he is quite passionate about the Web3, NFTs, Gaming, and Metaverse, and envisions them as the future of the (digital) economy. A reader & writer at heart, he calls himself an “average guitar player” and a fun footballer.
