TTD
Trade Desk, Inc.Evidence as of 2026-09-03Overview · Trade Desk, Inc.
The Trade Desk, Inc. operates as a technology company in the United States and internationally. The company operates a self-service cloud-based platform that allows buyers to plan, manage, optimize, and measure data-driven digital advertising campaigns across various ad formats and channels, including video, display, audio, digital-out-of-home, native, and social on various devices, such as computers, mobile devices,…
Management team
- Mr. Vivek Kundra · Chief Operating OfficerFind on LinkedIn
- Ms. Samantha Jacobson · Executive VP, Chief Strategy Officer & DirectorFind on LinkedIn
- Mr. Jay R. Grant · Chief Legal Officer & SecretaryFind on LinkedIn
- Ms. Laura Schenkein · Chief Financial OfficerFind on LinkedIn
Start your 7-day free trial to see the full management team.
Links open LinkedIn searches, not verified profiles. Team data from our market-data vendor's company profile.
Moneyta sentiment
Where the published evidence leans after the desk debated it — not a rating or a recommendation.
−0.1 on a −2 to +2 scale — was +0.0 before the debate changed the read.
What builds the score
Solid bars are analyst rubric scores; faded bars are computed directly from data. Claims dropped in debate count for nothing; weakened claims count at half weight.
Editor's note
Written after the debate settled — the rest of the page is the evidence behind it.
The evidence balance is Mixed (‑0.1 of a possible +2; confidence high). Reported revenue by quarter runs $616,021,000 in Q1 2025 (fiscal quarter ended 2025-03-31), $694,039,000 in Q2 2025 (2025-06-30), $739,433,000 in Q3 2025 (2025-09-30), $688,857,000 in Q1 2026 (fiscal quarter ended 2026-03-31) and $715,057,000 in Q2 2026 (fiscal quarter ended 2026-06-30). Operating income over those same reported quarters is $54,452,000, $116,777,000, $161,219,000, $66,647,000 and $101,577,000 respectively, and reported net income is $50,678,000, $90,129,000, $115,547,000, $39,997,000 and $64,394,000.
Valuation and cash-flow measures in the packet are internally consistent: FCF TTM is $868,049,000 producing a price/FCF of 7.88 (price 14.55 / FCF per share 1.8471), trailing twelve‑month P/E is 23.1 (EPS TTM 0.63), trailing EBITDA TTM is $542,671,000 and EBIT TTM is $446,220,000 (DDA TTM 96,451,000), and the model shows an implied FCF growth rate of -12.06% given the stated discount and terminal assumptions. The packet records share-repurchase cash outflows in reported periods ($386,250,000 and $163,514,000 in the two reported instances) and a decline in weighted‑average diluted shares from 502,944,000 to 469,948,000 across the reported span.
How this note was made
every stage ran before the note was writtenAnalyst desk
Mercer, Oakes, Nash, Ellis, Yates, Talbot and Archer. The desk: named AI agents, not people. Each reads one slice of the evidence and nothing else — no outside knowledge, no browsing — so every finding traces to a source you can open.
Reads the XBRL figures companies file with the SEC — revenue, margins, income, debt and share count, quarter by quarter — and reports which way the trend is running.
Revenue (RevenueFromContractWithCustomerExcludingAssessedTax) was $616,021,000 for the fiscal quarter 2025 Q1 (2025-01-01 to 2025-03-31, 3mo), $694,039,000 for 2025 Q2 (2025-04-01 to 2025-06-30, 3mo), $739,433,000 for 2025 Q3 (2025-07-01 to 2025-09-30, 3mo), $688,857,000 for fiscal Q1 2026 (2026-01-01 to 2026-03-31, 3mo) and $715,057,000 for fiscal Q2 2026 (2026-04-01 to 2026-06-30, 3mo).
XBRL companyfacts · 0001671933-26-000054Operating income (OperatingIncomeLoss) was $54,452,000 in Q1 2025 (2025-01-01 to 2025-03-31, 3mo), $116,777,000 in Q2 2025 (2025-04-01 to 2025-06-30, 3mo), $161,219,000 in Q3 2025 (2025-07-01 to 2025-09-30, 3mo), $66,647,000 in fiscal Q1 2026 (2026-01-01 to 2026-03-31, 3mo) and $101,577,000 in fiscal Q2 2026 (2026-04-01 to 2026-06-30, 3mo).
XBRL companyfacts · 0001671933-26-000054Reads the filings themselves, above all the year-over-year diff of Item 1A risk factors: which risks a company added, dropped or quietly reworded since its last annual report.
Nothing in this slice of the evidence rose to a claim — a quiet read, which itself is information.
Which filings the desk reads
The desk reads the annual 10-K in full — its risk factors, and how they changed since last year. Quarterly 10-Qs and event filings (8-Ks, insider Form 4s) are listed for context but not read line by line: the 10-K is where the material risk disclosures live. A brand-new company, or one we have only just begun tracking, may have no annual report on file yet — its risk analysis fills in once that lands.
Reads the signal panel above — momentum, volatility, drawdown, relative strength and beta — and ranks each against the whole research universe rather than judging it in isolation.
No computed signal history for this symbol yet — signals need roughly 70 trading days of price history.
Reads which funds hold the name and at what weight, plus insider Form 4 filings, to show the exposure you may already carry through index funds.
As of 2026-09-02T13:45:47.228469+00:00, Trade Desk, Inc. (TTD) is a holding in the IVV ETF at 0.01% of the fund's assets.
ETF constituents · market dataThe IVV membership weight of 0.01% represents a very small percentage exposure to TTD within that ETF's portfolio.
ETF constituents · market dataReads recent headlines that are genuinely about this company, ignoring rating chatter and market-wide stories. Findings argue in the debate but never move the sentiment score.
A headline on gurufocus on 2026-09-02 described The Trade Desk as 'Stock Up 5.6% and Still Undervalued' and assigned a GF Score of 82/100.
News · gurufocus.com · 2026-09-02Finance.yahoo.com's 2026-09-02 headline 'Why The Trade Desk Stock Rallied Today' (republished by Fool.com on the same date) frames coverage around a same-day rally and attributes the move to company-specific developments.
News · finance.yahoo.com · 2026-09-02Reads parsed Forms 3/4/5 — who bought or sold, at what size, and whether a 10b5-1 plan was involved. Flags clustered open-market officer buying; treats plan sales as routine and never counts a fund or 10%-holder as an officer.
No insider transactions on file in the trailing 180 days.
Reads the implied-expectations math built from the company's own filings (the growth rate today's price would justify, and the multiples beside it) and argues whether the market's bar looks high or low for this business. Never turns the math into a target.
The valuation model shows an implied free cash flow (FCF) growth rate of -12.06% that today's price would justify under the stated discount and terminal assumptions.
Valuation inputs · SEC XBRL + stored EOD closePrice to trailing twelve-month FCF is 7.88 (price 14.55 divided by FCF per share 1.8471, using FCF TTM of 868,049,000).
Valuation inputs · SEC XBRL + stored EOD closeDebate and risk review
A bull and a bear contest the claims and the chair rules on each; the risk review stress-tests what survived.
A bull and a bear argue the analysts' claims across two rounds, then a chair rules on each one. Only what survives feeds the score — the argument is shown, not hidden, so you can judge the reasoning yourself.
Several items in the evidence set jointly support a favorable read: revenues have been broadly resilient quarter-to-quarter with fiscal Q2 2026 above Q1 2026, the company generates substantial cash flow (FCF TTM $868m) and reported healthy EBITDA/EBIT alignment, and share count has meaningfully declined alongside reported repurchases — which amplifies per-share cash-flow metrics. These facts underpin a low price-to-trailing-FCF ratio (7.88) and positive trailing P/E and operating-income figures that describe a company with real cash-generation capacity rather than only headline volatility. The negative implied FCF-growth figure in the valuation model and press coverage calling recent earnings “disastrous” rely on single-model assumptions or narrative framing; contrasting the model output with actual trailing cash flows, buybacks, and persistent positive net income quarters weakens that bearish framing. Positive news coverage and reported partnership activity add company-specific context beyond broad sector moves, which supports interpreting recent price action as at least partly linked to firm-level developments rather than solely market-wide rot.
Chair's verdict, claim by claim
Fragility · computed, not argued
balanced0.34
17 surviving claims rest on 9 distinct sources; the heaviest analyst carries 29% of them, and 94% of what the desk raised survived the debate.
Seventeen surviving claims drawn from nine distinct sources means the read has moderate source breadth but some clustering; nearly a third of the surviving claims trace back to a single analyst, so that analyst’s view carries outsized influence. The very high survival rate from the desk debate (94%) indicates internal consensus, but the combination of source concentration and analyst dependence makes this read informative yet somewhat fragile — it should be weighted alongside primary filings and independent confirmations.
Disconfirming evidence · base rates · falsifiers
Context
Outside consensus, and where this name already sits in your own portfolio.
Third-party consensus shown for context. It never enters Moneyta sentiment — when the two diverge, the debate above is where the why lives.
What this was built from
Every figure on this page traces to one of these. The desk reads only what is listed here — no outside knowledge, no browsing — and each card shows who read it and what it contributed to the score.
11 filings· 1 cited
SEC XBRL filings
Quarterly figures as filed with the SEC, read straight from EDGAR's structured data — not retyped or estimated.
Read by Mercer−0.3 to the score
1 holdings record
Fund holdings
Which funds hold this name and at what weight, plus insider Form 4 filings.
Read by Ellis+0.0 to the score
8 headlines· 2 cited
News coverage
Recent headlines about this company, rating chatter excluded and nothing published after the report date.
Read by Yatesnothing survived
1 computation
Valuation inputs
TTM cash-flow figures from the company's own XBRL filings, priced with the stored closing price. Implied growth and multiples only; no fair-value dollar figure reaches the desk, by design.
Read by Archercontext only
1 record· 0 cited
Company profile
Sector, industry and company details.
Read means we pulled and handed it to an analyst; cited means a claim on this page points at it. Reading twelve quarters to state one trend is normal — the gap is shown rather than hidden.
Written by AI, checked against sources
The analysts, the bull–bear debate and the editor's note are AI agents reading only the evidence listed on this page. They can misread a filing or a headline, which is why every claim cites a source you can open and check yourself. The sentiment score is arithmetic over the claims that survived the debate, not a language model's opinion.
Educational analysis of published data. Moneyta does not give investment advice or make recommendations. Past patterns do not indicate future results.
Get this for the tickers you actually hold
Plus the one thing no sample can show: how each name correlates with your portfolio, and what hides inside your funds.
The full terminal on TTD Gold
Who holds it, who's buying, what the Street thinks: live behind the lock, updated as filings land.
Institutional holders
Net institutional flow, Q/Q
Largest holder position
Insider buys, 90 days
Clustered insider value
Street target range
The real figures are for members. Educational analysis, not advice.
Educational analysis of published data. Moneyta does not give investment advice or make recommendations.