New Risk • Jun 04
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: €5.0m This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (10% average weekly change). Minor Risk Significant insider selling over the past 3 months (€5.0m sold). Anuncio • Jun 03
The Trade Desk, Inc. Announces Chief Financial Officer Changes The Trade Desk, Inc. announced the appointment of Nate Olmstead as Chief Financial Officer, effective July 9, 2026, to drive sustained accelerated growth and scale for the company. Olmstead will report to Jeff Green, The Trade Desk’s CEO and Co-Founder. Olmstead joins from Penguin Solutions, an artificial intelligence infrastructure and technology solutions company, where he was SVP and CFO. Prior to that, he served as CFO of Logitech International S.A, a multinational company. He also held a number of financial leadership roles during his 16 years at Hewlett Packard Company and Hewlett Packard Enterprise. Tahnil Davis, who served as interim CFO, will continue to serve as Chief Accounting Officer, the title she held before taking on the interim role. An 11-year veteran of the company, Davis will work closely with Olmstead on the transition and report into Olmstead. Recent Insider Transactions • Jun 02
Director recently sold €974k worth of stock On the 28th of May, Samantha Jacobson sold around 54k shares on-market at roughly €18.14 per share. This transaction amounted to 80% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth €4.0m. Despite this recent sale, insiders have collectively bought €122m more than they sold in the last 12 months. Valuation Update With 7 Day Price Move • May 14
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to €17.46, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 8x in the Media industry in Italy. Total loss to shareholders of 74% over the past year. Reported Earnings • May 08
First quarter 2026 earnings released: EPS: US$0.084 (vs US$0.10 in 1Q 2025) First quarter 2026 results: EPS: US$0.084 (down from US$0.10 in 1Q 2025). Revenue: US$688.9m (up 12% from 1Q 2025). Net income: US$40.0m (down 21% from 1Q 2025). Profit margin: 5.8% (down from 8.2% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 9.3% p.a. on average during the next 3 years, compared to a 9.8% growth forecast for the Media industry in Italy. Anuncio • Apr 24
The Trade Desk, Inc. to Report Q1, 2026 Results on May 07, 2026 The Trade Desk, Inc. announced that they will report Q1, 2026 results After-Market on May 07, 2026 Valuation Update With 7 Day Price Move • Apr 16
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to €19.56, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 9x in the Media industry in Italy. Anuncio • Apr 14
The Trade Desk, Inc., Annual General Meeting, May 04, 2026 The Trade Desk, Inc., Annual General Meeting, May 04, 2026. Anuncio • Mar 26
The Trade Desk Appoints Drew Vollero to Board of Directors The Trade Desk announced the appointment of Drew Vollero to its board of directors. Vollero brings deep financial and operational expertise, with a proven track record of helping high-growth technology companies scale and navigate complex market dynamics. With more than three decades of experience across public and private markets, he brings a strong perspective on long-term value creation and disciplined growth. Vollero currently serves as Reddit’s first Chief Financial Officer (CFO), where he has built and scaled its financial infrastructure and guided the company through a successful IPO in March 2024. Prior to Reddit, Vollero was the CFO of Allied Universal, the largest U.S. security and facility services firm. In addition, he served as Snapchat’s first CFO, guiding its IPO and transition to a public company. During his tenure at Snap, Vollero led financial strategy and operational efficiency through periods of significant transformation and expansion. Vollero began his career in corporate finance and held various financial, operational, and business development roles at Mattel and Pepsi. He has a B.A. in mathematics and economics from Yale University, graduating magna cum laude, and an M.S. in management from Oxford University. Valuation Update With 7 Day Price Move • Mar 24
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to €19.32, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 9x in the Media industry in Italy. Recent Insider Transactions • Mar 10
Independent Director recently sold €4.0m worth of stock On the 5th of March, Kathryn Falberg sold around 153k shares on-market at roughly €26.34 per share. This transaction amounted to 99% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €4.1m more than they bought in the last 12 months. Anuncio • Mar 10
Trade Desk, Inc. Announces Resignation of Director Gokul Rajaram, Effective April 3, 2026 Trade Desk, Inc. announced that on March 3, 2026, Gokul Rajaram informed Trade Desk, Inc. of his decision to resign from the Company's board of directors, effective April 3, 2026. Mr. Rajaram served as a member of the Board since May 2018. Valuation Update With 7 Day Price Move • Mar 06
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to €25.03, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 9x in the Media industry in Italy. New Risk • Mar 05
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Italian stocks, typically moving 8.3% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. This is currently the only risk that has been identified for the company. Reported Earnings • Feb 26
Full year 2025 earnings released: EPS: US$0.91 (vs US$0.80 in FY 2024) Full year 2025 results: EPS: US$0.91 (up from US$0.80 in FY 2024). Revenue: US$2.90b (up 19% from FY 2024). Net income: US$443.3m (up 13% from FY 2024). Profit margin: 15% (in line with FY 2024). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Media industry in Italy. Anuncio • Feb 26
The Trade Desk, Inc. Provides Earnings Guidance for the First Quarter of 2026 The Trade Desk, Inc. provided earnings guidance for the first quarter of 2026. For the quarter, the company expects revenue at least $678 million. Anuncio • Feb 25
The Trade Desk Introduces the Ventura Ecosystem to Advance the Future of CTV Advertising The Trade Desk's Ventura, the platform built for a fairer and more transparent streaming ecosystem, takes the next step in its vision to optimize programmatic advertising in connected TV (CTV) with the launch of the Ventura Ecosystem. The Ventura Ecosystem is an industry collaboration that brings global TV operating systems and streaming platforms together to create a more transparent and revenue-optimized marketplace, so the industry can continue to grow and thrive. Through the Ventura Ecosystem, participants can leverage Ventura's monetization toolset to help unlock more revenue opportunities and realize the full value of CTV advertising. V (previously VIDAA TV OS) powers more than 50 million connected devices worldwide, and Nexxen, a global unified advertising technology platform with deep expertise in data and advanced TV, are the first companies to join the Ventura Ecosystem. Integration with the Ventura Ecosystem is simple. The Ventura monetization engine can be activated with minimal effort to unlock revenue quickly, while participating operating systems maintain control of their brand, system, and user experience. Through collaboration and development of industry standards, the intent is for Ecosystem contributors to gain access to increased programmatic demand, better CPMs, and stronger fill rates through seamless access to The Trade Desk's ad tech solutions, including: OpenPath: Offers a simplified, direct connection between ad buyers and sellers; Unified ID 2.0/EUID: Identity solution that enables holistic targeting and measurement in a privacy-conscious way; OpenAds: Designed to increase fairness, transparency, and trust in the supply chain; OpenPass: A single sign-on solution that offers a more personalized user and advertising experience. More partners are expected to join the Ventura Ecosystem soon, further expanding its reach and impact. Valuation Update With 7 Day Price Move • Jan 29
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to €26.25, the stock trades at a forward P/E ratio of 31x. Average forward P/E is 9x in the Media industry in Italy. Anuncio • Jan 07
The Trade Desk Announces First Wave of OpenAds Publishing Partners - Supporting a Healthier Digital Media Supply Chain The Trade Desk announced broad support from publishing partners for OpenAds, a new auction environment that enables a direct, high-integrity, and transparent option for publishers and sellers. Leading publishers AccuWeather, The Arena Group, BuzzFeed, the Guardian, Hearst Magazines, Hearst TV, Newsweek, People Inc., and Ziff Davis are among the first publishers to announce their support for OpenAds. As more advertisers fully embrace programmatic advertising, they are demanding digital advertising auctions that prioritize transparency, visibility, and signal. OpenAds is designed to deliver a high-integrity and transparent auction and, in doing so, incentivizes healthy supply chain dynamics across the advertising technology ecosystem. Anuncio • Nov 08
The Trade Desk, Inc. Provides Earnings Guidance for the Fourth Quarter 2025 The Trade Desk, Inc. provided earnings guidance for the fourth quarter 2025. For the quarter, the company expects revenue at least $840 million. Reported Earnings • Nov 07
Third quarter 2025 earnings released: EPS: US$0.24 (vs US$0.19 in 3Q 2024) Third quarter 2025 results: EPS: US$0.24 (up from US$0.19 in 3Q 2024). Revenue: US$739.4m (up 18% from 3Q 2024). Net income: US$115.5m (up 23% from 3Q 2024). Profit margin: 16% (in line with 3Q 2024). Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Media industry in Italy. Anuncio • Oct 30
The Trade Desk Announces Chief Revenue Officer Changes The Trade Desk announced the appointment of Anders Mortensen as Chief Revenue Officer (CRO), effective November 4, 2025. Mortensen will be responsible for driving revenue generation globally, and will report to Jeff Green, The Trade Desk’s CEO and Co-Founder. Mortensen brings a distinguished 25-year track record in global executive leadership and digital advertising, focused on leading and scaling high-performance commercial teams. Most recently, he served as Managing Director (and newly promoted VP) at Google, where he led one of the largest and fastest-growing advertising businesses globally, delivering significant double-digit growth and improved market share. In more than a decade at Google, Mortensen held a range of leadership roles, most notably leading the U.S. Agency and Channel Partner businesses and launching and scaling the Google Marketing Platform to the Americas Mid-Market. Prior to Google, Mortensen was General Manager at Fujitsu, where he led the most profitable consulting business and oversaw the launch of one of the company’s first cloud computing offerings. Jed Dederick will transition from the CRO role after more than 13 successful years at the company, during which he has served in a series of client and sales leadership positions. Dederick will remain with the company through the end of the year and will work closely with Mortensen to ensure a successful and seamless transition. Anuncio • Oct 17
The Trade Desk, Inc. to Report Q3, 2025 Results on Nov 06, 2025 The Trade Desk, Inc. announced that they will report Q3, 2025 results After-Market on Nov 06, 2025 Anuncio • Sep 30
The Trade Desk Announces Major Overhaul of Digital Advertising Data Marketplace The Trade Desk announced plans to launch Audience Unlimited - a major upgrade to the marketplace for third-party data within digital advertising. Third-party data helps advertisers optimize their campaigns and reach their target audience with greater precision, but advertisers have often been reluctant to deploy it because of both cost and the challenge of determining which data sources are likely to be most effective. As a result, many advertisers do not regularly use third-party data, and those that do typically invest nearly 20% of their media costs on it. Audience Unlimited removes these two obstacles for advertisers. Audience Unlimited will leverage AI to score data segments by relevance to an advertiser's campaign, across thousands of curated segments from hundreds of trusted, privacy-conscious third-party data providers. Advertisers will then be able to add all the relevant data sources to their campaigns for a much lower, inclusive cost than traditional a la carte data pricing. With consistent pricing and seamless integration, advertisers can now activate precision targeting at scale with third-party data without the complexity of unpredictable costs or reconciliation challenges. In order to help advertisers take full advantage of Audience Unlimited, The Trade Desk will introduce new Koa Adaptive Trading Modes, giving advertisers flexibility to adapt Kokai based on campaign strategy and requirements. Advertisers will be able to choose between two distinct modes, both powered by advanced agentic AI. Performance Mode: In Performance Mode, Koa acts as a full co-pilot, dynamically optimizing bids and allocation to maximize efficiency and performance. Advertisers set the overall strategy and guardrails, and agentic AI continuously finds the most value within them. All optimizations remain fully transparent, with visibility into the changes Koa makes and the ability to override bid factors at any time. Performance Mode also brings together the full power of The Trade Desk's innovations -- including Audience Unlimited, Predive Clearing, Identity Alliance, Prism, and free measurement -- which are continuously optimized to work in concert. Control Mode: In Control Mode, traders manually manage bids, allocation, and optimizations, with full flexibility to structure campaigns according to their needs. Agentic AI still surfaces recommendations and opportunities, but traders decide when and how to activate them across individual tiles (e.g., Geography, Device Type, Ad Format, and more). Performance features are available and priced a la carte in this mode, giving advertisers the ability to select which capabilities to apply to each campaign. Control Mode is best for campaigns that must adhere to a detailed plan or strict pricing requirements. To leverage Audience Unlimited, advertisers will pay tiered rates of 3.3% and 4.4% of impression costs within Control Mode. In Performance Mode, Audience Unlimited is included at no additional cost. In addition, advertisers will still be able to apply data with a la carte pricing if they so choose. Anuncio • Sep 25
Acxiom Launches 'True Intelligence' to Revolutionize Digital and CTV Advertising Measurement in Partnership with the Trade Desk Acxiom announced the launch of 'True Intelligence,' a new measurement solution designed to provide marketers with deeper insights into the real-world impact of their digital and connected TV (CTV) advertising. This solution combines the power of Interpublic's Interact operating system - powered by Acxiom - and Acxiom's Real ID with The Trade Desk's media buying platform, Kokai, to deliver precise measurement of advertising effectiveness combined with durable solutions like Unified ID 2.0 (UID2). Acxiom's Real ID provides connected identity resolution across the marketing ecosystem to enhance CX across channels, realize AI potential, and improve business growth - all with privacy and compliance standards in mind. UID2 is an open-source identity framework designed to maintain relevant advertising across the open internet. Acxiom's adoption of UID2 allows it to translate between Real ID and UID2. For years, marketers have struggled to accurately measure the true incremental impact of their digital and CTV advertising on both online and offline sales. Traditional methods often fall short, either by failing to measure incrementality holistically, not including both online and offline conversions, or requiring extensive client first-party data. 'True Intelligence' addresses this challenge with a comprehensive solution that goes beyond basic attribution and measures real business outcomes. Key Features and Benefits: Proven Incrementality, Beyond Attribution: 'True Intelligence' moves beyond last-touch attribution to measure the true incremental impact of digital and CTV advertising on Both online and offline sales. This allows advertisers to more confidently determine if a campaign drove new business and through which channels. Closed-Loop, Precise-Level Measurement: Leveraging Acxiom's Real ID and privacy-conscious clean room environments, 'True Intelligence' enables advertisers to match ad exposure data to individual-level conversions. This provides visibility from initial ad impression to final transaction, reducing reliance on extensive first-party data. Smarter Audience Development and Optimization: Through machine learning-powered audience modeling and access to comprehensive exposure log files, advertisers can identify, scale, and optimize high value audiences (HVAs). This can deliver actionable insights into campaign performance, including audience, creative, frequency, and media type, helping lead to higher ROI and more efficient media spend. The 'True Intelligence' solution is adaptable to different levels of data maturity and privacy settings. Brands can use their own first-party data or Acxiom data to identify audiences, which are then activated through The Trade Desk's Kokai platform. Post- campaign, exposure log files from The Trade Desk via UID2 and client conversion data are matched to the audiences using Acxiom's Real ID, enabling precise, audience-level measurement of incremental lift by comparing exposed audiences to a hold-out group. The solution is also adaptable based on a brand's analytics capabilities. For brands lacking internal analytics resources, Acxiom Analytics Services can provide tailored support, scaling up or down to meet the needs of each client. For clients with advanced analytics capabilities, 'True Intelligence' provides a privacy-conscious analytics environment, allowing multiple publishers to send exposure log files, which are then matched to client first-party data for comprehensive closed-loop measurement. Valuation Update With 7 Day Price Move • Aug 14
Investor sentiment deteriorates as stock falls 43% After last week's 43% share price decline to €43.58, the stock trades at a forward P/E ratio of 56x. Average forward P/E is 9x in the Media industry in Italy. Simply Wall St's valuation model estimates the intrinsic value at €78.17 per share. Buy Or Sell Opportunity • Aug 10
Now 44% undervalued after recent price drop Over the last 90 days, the stock has fallen 35% to €46.15. The fair value is estimated to be €82.99, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 22% over the last 3 years. Earnings per share has grown by 73%. For the next 3 years, revenue is forecast to grow by 15% per annum. Earnings are also forecast to grow by 22% per annum over the same time period. Reported Earnings • Aug 08
Second quarter 2025 earnings released: EPS: US$0.18 (vs US$0.17 in 2Q 2024) Second quarter 2025 results: EPS: US$0.18 (up from US$0.17 in 2Q 2024). Revenue: US$694.0m (up 19% from 2Q 2024). Net income: US$90.1m (up 6.0% from 2Q 2024). Profit margin: 13% (down from 14% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 2.2% growth forecast for the Media industry in Italy. Anuncio • Jul 24
The Trade Desk, Inc. to Report Q2, 2025 Results on Aug 07, 2025 The Trade Desk, Inc. announced that they will report Q2, 2025 results After-Market on Aug 07, 2025 Buy Or Sell Opportunity • Jun 15
Now 20% undervalued The stock has been flat over the last 90 days, currently trading at €60.26. The fair value is estimated to be €75.47, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 22% over the last 3 years. Earnings per share has grown by 72%. For the next 3 years, revenue is forecast to grow by 15% per annum. Earnings are also forecast to grow by 22% per annum over the same time period. Anuncio • Jun 10
The Trade Desk to Launch Deal Desk - A Revolutionary Approach to Understanding and Managing Digital Advertising Deal Performance The Trade Desk announced Deal Desk, a transformational new pillar of its Kokai platform that enables advertisers to manage their strategic one-to-one deals and upfront commitments with publishers. Deal Desk gives both advertisers and publishers unprecedented transparency and insight into the performance, quality, and pacing of their deals, and showcases premium internet alternatives when deals underperform. Digital advertising deals between advertisers and publishers, as well as inventory aggregators, command a large percentage of programmatic spend, but many deals underperform due to lack of visibility into impression quality and pacing. In an industry first, Deal Desk leverages advanced AI to help advertisers and publishers understand deal performance, so they can address campaign optimization. Deal Desk also helps advertisers consider premium internet alternatives in the open market or in premium marketplaces such as the Sellers and Publishers 500 Plus. Deal Desk incorporates a range of powerful new features and innovations, including: Advertisers can inspect the health and value of their deals, using Deal Quality Scores to understand when a deal offers unique value for their campaigns and when they can find better value in the open marketplace. Publishers can use new APIs or a UI to propose deals that fully describe their inventory with rich metadata and clearly defined terms. They can use the same Deal Quality Scores their buyers see to gain insight into the market for their inventory and discover actionable recommendations to help improve the value of their deals. Deal Desk will help automate deal activation and prioritization so that both advertisers and publishers can spend less time troubleshooting pacing and more time on strategic analysis and optimizations. New built-in expansion and cancelation features create mutual accountability and help advertisers easily include more relevant inventory when a deal is unable to deliver within the original terms. Initial publishers who have adopted Deal Desk for their private marketplace deals include industry leaders such as Disney. Anuncio • May 15
The Trade Desk Announces OpenSincera, a New Application That Delivers Greater Visibility into Advertising Performance and Health of the Digital Advertising Supply Chain The Trade Desk announced OpenSincera, a new application that provides the ad tech ecosystem with Sincera's rich advertising metadata to reveal deeper insights on advertising quality and health of the digital advertising supply chain. Free and open to all participants across the entire advertising industry, OpenSincera will provide metrics on the ad experience such as ads-to-content ratio, page weight, average ads-in-view, and ad refresh rate. The Trade Desk acquired Sincera earlier this year. In launching OpenSincera, The Trade Desk is extending the access of Sincera digital advertising data, making it more widely available to the industry than ever before. In addition, OpenSincera will launch alongside a new, first-of-its-kind API, a service that will enable ad-tech companies to build services based on the data easily and intuitively. Reported Earnings • May 09
First quarter 2025 earnings released: EPS: US$0.10 (vs US$0.065 in 1Q 2024) First quarter 2025 results: EPS: US$0.10 (up from US$0.065 in 1Q 2024). Revenue: US$616.0m (up 25% from 1Q 2024). Net income: US$50.7m (up 60% from 1Q 2024). Profit margin: 8.2% (up from 6.4% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 2.0% growth forecast for the Media industry in Italy. Anuncio • May 09
The Trade Desk, Inc. Provides Earnings Guidance for the Second Quarter of 2025 The Trade Desk, Inc. provided earnings guidance for the second quarter of 2025. For the quarter, the company expected revenue at least $682 million.