The Trade Desk Inc Class A

TTD: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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The Trade Desk Earnings: A Beat but Weak Guide and AI Scale Deficits Lurk; FVE Cut to $35 From $60

Mark Giarelli

Feb 26, 2026

The Trade Desk reported fourth-quarter earnings that exceeded management’s 18.5% revenue growth (ex-political) and 45% adjusted EBITDA margin forecasts by 50 and 200 basis points, respectively. Shares are trading lower due to what we believe is a weak first-quarter outlook.

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The Trade Desk Inc Class A

The Trade Desk Earnings: A Beat but Weak Guide and AI Scale Deficits Lurk; FVE Cut to $35 From $60

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