Trade Desk misses Q2 profit, revenue estimates; shares tumble
TTD•Outlook for Q3
- Trade Desk sees Q3 revenue at least $650 mln
- Company expects Q3 adjusted EBITDA of approximately $160 mln
- Company says marketers face complex environment, boosting demand for decisioning and AI
Analyst coverage and valuation
- The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 15 "strong buy" or "buy", 20 "hold" and 3 "sell" or "strong sell"
- The average consensus recommendation for the software peer group is "buy"
- Wall Street's median 12-month price target for Trade Desk Inc is $25.00, about 31.9% above its August 5 closing price of $18.96
- The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 11 three months ago
Quarterly results miss estimates
- US ad tech platform's Q2 revenue rose 3% yr/yr, missing analyst expectations
- Adjusted EPS for Q2 missed analyst expectations
- Company repurchased $78 mln of shares in Q2
- Stock down over 20% in after-hours trading
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|---|---|---|
| Q2 Revenue | Miss | $715 mln | $751.39 mln (30 Analysts) |
