Trade Desk Q3 earnings preview: Will market share gains drive another strong show?
Khanchit Khirisutchalual


The Trade Desk (NASDAQ:TTD) is scheduled to announce Q3 earnings results on Wednesday, Nov. 9, before market open.
The consensus EPS estimate is $0.23 (+27.8% Y/Y) and the consensus revenue estimate is $386.36M (+28.3% Y/Y).
Over the last 2 years, TTD has beaten EPS and revenue estimates 100% of the time.
Over the last 3 months, EPS estimates have seen 10 upward revisions and 2 downward. Revenue estimates have seen 11 upward revisions and 6 downward.
Morgan Stanley called Trade Desk (TTD) the "MVP" of connected TV, but initiated coverage at Equal Weight, waiting for a better spot to get in as its current valuation is fair.
SA contributor Albert Lin said recent earnings from Trade Desk's (TTD) peers have been concerning, and markets will want to see whether it faced similar macro headwinds, rating the stock Hold.
On the other hand, SA contributor The Value Pendulum is bullish on Trade Desk (TTD), taking into account an expected Q3 EPS beat and sustained growth momentum in Q4.
Trade Desk (TTD) stock fell ~52% YTD, underperforming the broader Nasdaq composite index by a wide margin.

Q2 recap:

Shares of the ad-tech firm gained after it reported better-than-expected Q2 results.
Analysts heaped praise on the company's "exceptional" execution. Truist said the stellar figures and strong outlook implied market share gains.
Raymond James said the results were driven by momentum in connected TV, noting that the company is not seeing the same headwinds from the spot market as its peers.