Reading the tape
NASDAQ: TTD
The Trade Desk, Inc.
Technology · Software - Application
Market Cap
$11.54B
52w High
$91.45
52w Low
$19.74
P/E
26.25
Volume
16.59M
Outstanding Shares
475.98M
Price vs Fundamentals
Why The Stock Is Moving
Likely multiple compressionModerate confidence
Note: The most recent financial data is over 3 months old. Metrics shown may not reflect the latest reporting period.
1Y Price: -54.32%Revenue (TTM): 18.47%FCF (TTM): 24.5%P/FCF: 0th pct
What changed
The stock fell 54.32% over the last year. Revenue grew 18.47% over the trailing twelve months. Operating margin moved from 17.47% to 20.35%. Free cash flow grew 24.5% over the trailing twelve months.
What the market seems to be pricing
Visible fundamentals weakened far less than the stock price, and the shares now sit around the 0th percentile of their historical P/FCF range. That looks more like a rerating of the multiple than a collapse in the business.
What would invalidate this read
This read changes if operating margin (currently 20.35%) continues to decline, or if revenue growth turns negative. The bull case requires the business to hold its current trajectory.
Company profile
Trade Desk, Inc. operates as a technology company in the United States and internationally.
CEOJeffrey Terry Green
SectorTechnology
IndustrySoftware - Application
Employees3,522
IPO dateSep 21, 2016
Valuation
Forward P/E—
EV/EBITDA23.24
Enterprise value$18B
Stock splits
Jun 17, 2021↑ Forward
Every 1 shares became 10
Profitability & growth
Revenue growth14.27%
Gross margin78.63%▼2.56%vs FY2024
Operating margin20.35%▲16.46%vs FY2024
ROE17.84%▲33.88%vs FY2024
Analyst consensus
RatingBuy
Target price$37.12▲53.14%
25
Buy
18
Hold
3
Sell
Analyst ratings tend to be lagging indicators. Use as one signal among many.
Earnings
Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.
Next report
May 7, 2026
Q2 FY26 · EPS est $0.32 · Revenue est $678.85M
View
Congressional Activity
Congress Trades in TTD
STOCK Act disclosures from senators and representatives.
Byron Donalds
FLhouseRepublicanSale2026-03-20$1,001 - $15,000+20d to discloseByron Donalds
FLhouseRepublicanSaleSpouse2026-03-20$1,001 - $15,000+20d to disclose