The Trade Desk, Inc.

NasdaqGM:TTD Stock Report

Market Cap: US$61.2b

Trade Desk Valuation

Is TTD undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

0/6

Valuation Score 0/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of TTD when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: TTD ($123.96) is trading above our estimate of fair value ($111.41)

Significantly Below Fair Value: TTD is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for TTD?

Key metric: As TTD is barely profitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for TTD. This is calculated by dividing TTD's market cap by their current revenue.
What is TTD's PS Ratio?
PS Ratio26.5x
SalesUS$2.31b
Market CapUS$61.18b

Price to Sales Ratio vs Peers

How does TTD's PS Ratio compare to its peers?

The above table shows the PS ratio for TTD vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average1.5x
OMC Omnicom Group
1.1x3.9%US$16.9b
IPG Interpublic Group of Companies
1.1x1.2%US$10.6b
MGNI Magnite
3.5x6.4%US$2.3b
STGW Stagwell
0.3x5.0%US$1.8b
TTD Trade Desk
26.5x17.8%US$61.2b

Price-To-Sales vs Peers: TTD is expensive based on its Price-To-Sales Ratio (26.5x) compared to the peer average (1.5x).

Price to Sales Ratio vs Industry

How does TTD's PS Ratio compare vs other companies in the US Media Industry?

38 CompaniesPrice / SalesEstimated GrowthMarket Cap
PARA Paramount Global
0.2x1.4%US$7.44b
DISH DISH Network
0.2x-1.3%US$3.08b
STGW Stagwell
0.3x5.0%US$1.76b
ATUS Altice USA
0.1x-2.4%US$1.15b
TTD 26.5xIndustry Avg. 0.8xNo. of Companies38PS01.22.43.64.86+
38 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: TTD is expensive based on its Price-To-Sales Ratio (26.5x) compared to the US Media industry average (0.8x).

Price to Sales Ratio vs Fair Ratio

What is TTD's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

TTD PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio26.5x
Fair PS Ratio7x

Price-To-Sales vs Fair Ratio: TTD is expensive based on its Price-To-Sales Ratio (26.5x) compared to the estimated Fair Price-To-Sales Ratio (7x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst TTD forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$123.96
US$130.20
+5.0%
21.1%US$160.00US$40.00n/a33
Dec ’25US$128.55
US$127.92
-0.5%
20.7%US$150.00US$40.00n/a32
Nov ’25US$119.19
US$117.09
-1.8%
21.7%US$150.00US$40.00n/a32
Oct ’25US$108.72
US$108.53
-0.2%
20.0%US$135.00US$40.00n/a30
Sep ’25US$104.53
US$106.96
+2.3%
20.4%US$135.00US$39.00n/a28
Aug ’25US$87.75
US$101.38
+15.5%
19.5%US$120.00US$39.00n/a29
Jul ’25US$97.97
US$99.34
+1.4%
19.4%US$115.00US$37.00n/a29
Jun ’25US$92.78
US$98.61
+6.3%
20.3%US$115.00US$35.00n/a27
May ’25US$85.41
US$94.74
+10.9%
20.9%US$115.00US$35.00n/a27
Apr ’25US$87.31
US$95.28
+9.1%
20.6%US$115.00US$35.00n/a28
Mar ’25US$83.89
US$94.75
+12.9%
21.3%US$115.00US$30.00n/a28
Feb ’25US$67.21
US$77.94
+16.0%
20.8%US$100.00US$30.00n/a29
Jan ’25US$71.96
US$75.86
+5.4%
21.9%US$100.00US$30.00n/a28
Dec ’24US$71.60
US$73.56
+2.7%
24.4%US$100.00US$30.00US$128.5528
Nov ’24US$70.76
US$86.56
+22.3%
24.7%US$105.00US$28.00US$119.1928
Oct ’24US$78.15
US$86.25
+10.4%
25.2%US$105.00US$28.00US$108.7227
Sep ’24US$79.93
US$85.72
+7.2%
25.6%US$105.00US$28.00US$104.5326
Aug ’24US$90.05
US$78.32
-13.0%
26.9%US$105.00US$28.00US$87.7525
Jul ’24US$77.22
US$72.95
-5.5%
21.9%US$90.00US$28.00US$97.9722
Jun ’24US$73.26
US$71.68
-2.2%
21.9%US$90.00US$26.00US$92.7822
May ’24US$62.94
US$67.24
+6.8%
22.4%US$90.00US$26.00US$85.4121
Apr ’24US$60.91
US$67.18
+10.3%
21.9%US$90.00US$26.00US$87.3122
Mar ’24US$55.41
US$68.86
+24.3%
19.6%US$90.00US$27.00US$83.8921
Feb ’24US$52.31
US$59.48
+13.7%
22.8%US$90.00US$27.00US$67.2121
Jan ’24US$44.83
US$61.10
+36.3%
21.0%US$90.00US$27.00US$71.9620
Dec ’23US$51.91
US$62.88
+21.1%
20.7%US$90.00US$27.00US$71.6017

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/24 05:16
End of Day Share Price 2024/12/24 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

The Trade Desk, Inc. is covered by 62 analysts. 38 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Richard KramerArete Research Services LLP
Rocco StraussArete Research Services LLP
Vikram KesavabhotlaBaird