TLDR
Trade Desk (TTD) stock closed up 15.5% at $14.93 on Monday, its best day since March 5.
Q3 adjusted earnings were 33 cents a share, beating the 25-cent estimate.
Q3 revenue slipped 0.5% to $736 million but topped the $650.9 million forecast.
Q4 revenue guidance of at least $755 million beat the $688 million consensus.
Jefferies raised its target to $14 and Truist to $17, both with Hold ratings.
Trade Desk (TTD) stock closed up 15.5% at $14.93 on Monday. The ad tech name had a rough 2026 before its third-quarter report landed.
The Trade Desk, Inc., TTD
That was its best day since March 5, when it rose 18.4%. The stock then climbed about 20% in late trading.
By premarket Tuesday, it had slipped 1.2% to $14.75. Even so, November is up 21.5%, the best month since July 2025.
THE TRADE DESK $TTD Q3’26 EARNINGS HIGHLIGHTS
Revenue: $736M (Est. $650M) ; -0.5% YoY
Adj. EPS: $0.33 (Est. $0.25) ; -27% YoY
Adj. EBITDA: $266M (Est. $161M)
Adj. EBITDA Margin: 36%; -700 bps YoY
Customer Retention: Over 95%
Q4 Guide:
Revenue: At least… pic.twitter.com/A8LR7XBg6T
— Wall St Engine (@wallstengine) November 9, 2026
The year still tells a harsher story. The stock is down 60.7% in 2026.
The company earned an adjusted 33 cents a share in the third quarter. Analysts had called for 25 cents, according to FactSet.
A Beat With a Catch
Revenue slipped 0.5% to $736 million. Wall Street had expected $650.9 million.
Strip out political ads and one-time items, and Jefferies says revenue fell 8.5%. That same measure grew 3% in the second quarter.
Management credited stronger execution for the better-than-planned quarter. It also rolled out new AI tools called Zuma and Audience Unlimited.
For the fourth quarter, Trade Desk guided to revenue of at least $755 million. The consensus was $688 million.
Adjusted EBITDA is expected to be at least $280 million. Both targets are floors, not fixed numbers.
Jefferies says the Q4 guide points to an 18% drop without political ads. Rosenblatt also expects revenue declines to speed up, even with midterm ad spending.
Cost Cuts and Fence Mending
Trade Desk cut about 15% of its staff in September. Truist estimates the layoffs could save up to $150 million a year.
Publicis once made up a mid-teens percentage of revenue. Truist says its spending fell after a dispute, with some work moving to Google.
Amazon and Google are adding to the competition. StoneX called 2026 a “lost year” and said the recovery depends partly on how Trade Desk handles pricing pressure from Amazon.
Truist said management “has pushed the reset button” on guidance. It sees 2027 as a year of stabilization and 2028 as a “growth year.”
Truist raised its target to $17 and kept a Hold rating. It said the results and guidance point to a stabilizing business.
Jefferies lifted its target to $14 from $12, also with a Hold. It kept its 2027 revenue growth estimate at 7%, and the market cap sits near $7.06 billion.
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