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Trade Desk Q4 Revenue and Earnings Beat Estimates; Issues Guidance

Trade Desk (TTD) delivered better-than-expected fourth-quarter 2021 and full-year results as the company gained market share in the data-driven advertising market. TTD shares rose 0.48% to close at $80.91 on February 16.

Trade Desk is a technology company that offers a cloud-based platform allowing ad buyers to create, manage, and optimize data-driven digital advertising.

Fourth-quarter revenue was up 24% year-over-year to $395.6 million, beating consensus estimates of $389.2 million. Full-year revenue was up 43% year-over-year to $1.20 billion. Adjusted EBITDA increased to $191.5 million in Q4 from $152.9 million delivered in the same quarter last year.

Trade Desk delivered Q4 diluted earnings per share (EPS) of $0.42, an increase from $0.37 in the same quarter last year and better than consensus estimates of $0.27. Full-year EPS surged to $0.91 from $0.69 for Fiscal 2020.

Customer retention remained well over 95% in the fourth quarter.

Revenue in the first quarter is expected to be at least $303 million should the economy continue to recover with no major COVID-19 related setbacks. Adjusted EBITDA is expected at about $91 million.

Stock Rating

Yesterday Needham analyst Laura Martin reiterated a Buy rating on Trade Desk with a $115 price target, implying 42.13% upside potential to current levels.

Consensus among analysts is a Moderate Buy based on 5 Buys and 2 Holds. The average Trade Desk price target of $98 implies 21.12% upside potential to current levels.

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