Trade Desk stock soars toward best day since 2018 amid 'standout' performance
Shares of Trade Desk Inc. (TTD) are rocketing 33% in Wednesday morning trading after the advertising-technology company offered a better-than-expected revenue forecast for the current quarter despite fears about the advertising landscape. The shares are on track for their largest single-day percentage gain since Aug. 10, 2018, when they rose 37.1%, according to Dow Jones Market Data. "A standout among peers as management overcame macro-headwinds with company-specific tailwinds outperforming all headline metrics, as top-line outperformance again led to better than expected profitability," RBC Capital Markets analyst Matthew Swanson wrote following the report. Raymond James analyst Andrew Marok wrote that the compamny "has been able to capitalize on the trend of advertisers seeking efficient and measurable spend to gain share." Shares of Trade Desk have surged 67% over the past three months as the S&P 500 has added 5%.
(END) Dow Jones Newswires
August 10, 2022 10:59 ET (14:59 GMT)
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