Shares of The Trade Desk (NASDAQ: TTD) gained by more than 8% in pre-market trading after the programmatic advertising tech company reported adjusted Q4 earnings of $0.38 per share which beat analysts’ consensus estimate of $0.36.
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Revenues in Q4 soared by 24% year-over-year to $491 million missing analysts’ expectations by $1.1 million. The company also announced that its Board of Directors had authorized a stock buyback of up to $700 million of its Class A common stock.
Looking forward, management now expects revenues of at least $363 million in Q1 versus consensus estimates of $362.8 million and adjusted EBITDA of around $78 million.
Overall, Wall Street has a consensus price target of $60.06 on TTD stock, implying a 20.3% upside potential, as indicated by the graphic above.
