The Trade Desk Inc Class A

TTD: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$41.00	Byxj	Mqlxbnf

Digital Ad Spending Slowdown Does Not Affect The Trade Desk, but Shares Are Overvalued

Ali Mogharabi

Feb 15, 2023

The Trade Desk’s solid fourth-quarter results support a few of our assumptions about the firm and the digital ad market, including continued strong growth of the connected TV market, that an increasing number of clients will sign multiyear agreements, ad spending will continue to shift away from “walled garden” sites or apps like Facebook, and adoption of the firm’s universal identifier offering, UID 2.0, will steadily expand.

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