Trade Desk, Inc. Class A (TTD)

The Trade Desk's stock price experienced significant volatility in the past six months. The stock declined by approximately 67% in 2025 and an additional 20% at the beginning of 2026. The resignation of CFO Alex Kayyal in January 2026 led to a nearly 5% drop in the stock price and analyst downgrades. Increasing competition and the growing influence of AI have also impacted the stock. Despite these challenges, fourth-quarter 2025 revenue and adjusted EBITDA were consistent with guidance, and analysts project annual earnings growth.

The Trade Desk's platform allows advertisers to factor in seasonal trends when utilizing its custom algorithmic bidding, indicating that demand seasonality is a recognized element within the digital advertising industry. Tools exist to analyze recurring monthly trends in asset performance, suggesting that seasonal patterns are a consideration in the broader market.

The Trade Desk operates in the technology sector, focusing on digital marketing, online advertising, software, and SaaS. Its core business is its independent demand-side platform (DSP), enabling buyers to purchase digital ad inventory across various formats and channels on different devices. Major products and services include a Demand Side Platform (DSP) for managing programmatic campaigns, a Data Management Platform (DMP) for managing advertiser data, Koa™ for enhancing decision-making with AI, Planner for developing data-driven media plans, a Publisher Management Platform (PMP) for managing direct deals, and Enterprise APIs for custom development.

The Trade Desk has a significant global presence with offices across North America, Europe and the Middle East, and Asia Pacific. In North America, it has over 2,000 employees across 15 offices, including its headquarters in Ventura, California. In Europe and the Middle East, it has over 600 employees across 8 offices. In Asia Pacific, The Trade Desk has over 570 employees across 13 offices.

The Trade Desk maintains a strong brand reputation as a leading independent demand-side platform, recognized for its advanced data-driven targeting, real-time bidding capabilities, robust technology, and transparent reporting. The company has historically reported a high customer retention rate. The introduction of its AI-powered Kokai platform further bolstered its reputation. However, the company's reputation has been influenced by its stock price decline and the unexpected resignation of its CFO.

The Trade Desk has a large institutional ownership base, with 1441 institutional owners and shareholders holding over 415 million shares. Major institutional owners include Vanguard Group Inc., State Street Corp., BlackRock, Inc., Baillie Gifford & Co., Geode Capital Management, Llc., T. Rowe Price Group, Inc., Invesco Capital Management LLC., Morgan Stanley Investment Management Inc., and Morgan Stanley.