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$TTD

The Trade Desk
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The Trade Desk provides a demand-side advertising platform for programmatic digital media buying.

sentiment mix
bull 100%bear 0%neu 0%

signal summary

latest thesis
Trade Desk 80% off highs trades at 12x earnings with 19% operating margins▾

The Trade Desk has fallen ~80% from $139 to $25, now trading at 12.4x forward P/E and 14x P/FCF while maintaining 31% 5-year revenue CAGR and expanding operating margins to 18.9%. With $1.4B cash enabling 10% share buyback, risk/reward is attractive if it sustains 20%+ growth despite competition from Amazon, Google, Meta walled gardens.

travis hoiumT3Asymmetric Investing2026-02-23
confidence 58 / 100impact Medium
key themes
  • AI Infrastructure50%
  • Advertising50%

bull thesis · 2

83 / 100
  • •Trade Desk 80% off highs trades at 12x earnings with 19% operating margins
  • •Trade Desk wins as exclusive demand partner for large advertisers

bear thesis · 0

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  • — none —

mentions · 2

Asymmetric Investing3 Insanely Cheap Growth Stocks1 mentions · 1▲ 0▼ 0○ · 7 months ago
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Invest Like The BestHe Built The Revenue Engines for Google, Facebook & Square1 mentions · 1▲ 0▼ 0○ · 8 months ago
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