Added to YB: 2026-08-27
Pitch date: 2026-08-26
TTD [neutral]
The Trade Desk, Inc.
Author Info
No bio for this author
Company Info
The Trade Desk, Inc. operates as a technology company in the United States and internationally. The company creates, manages, and optimizes digital advertising campaigns across ad formats, channels and devices, including CTV and other video, display, audio, and native, on a multitude of devices, such televisions, streaming devices, mobile devices, computers and digital-out-of-home devices.
Market Cap
$6.2B
Pitch Price
N/A
Price Target
N/A
Dividend
N/A
EV/EBITDA
6.42
P/E
15.61
EV/Sales
1.73
Sector
Media
Category
turnaround
Everyone says $TTD is dead
TTD (watchlist): Author frames this as a monitoring case rather than a buy, saying he doesn't yet know whether TTD's economics and competitive position are permanently deteriorating or whether a good business is passing through a bad period; Q2 revenue grew only 3% to $715M, adjusted EBITDA was $241M at a 34% margin (down from 39% a year earlier), and management guided Q3 revenue to at least $650M; management attributes weakness partly to autos and CPG (~25% of business) temporarily cutting budgets amid tariffs/higher costs/oil prices and some shifting to cheaper media, while Jeff Green also admitted execution fell short of standard; author notes counter-evidence complicating the bear case — retention still above 95%, CTV and audio grew double digits, EMEA and APAC up almost 30% YTD with CTV up more than 50% in each region in Q2, and advertisers outside the top 500 growing more than 50% YoY YTD; also cites Green buying roughly $150M of stock in the mid-$20s earlier this year, after which the stock fell further; author says he needs only a return to reasonable growth (perhaps teens) rather than a return to prior 25% growth, and lists open questions on whether Amazon is a more serious competitor, whether TTD lost agency influence, and whether Kokai adoption is underperforming.
Read full article (8 min)