RE:RE:RE:RE:Remember this: How do they get 15-20% in 2022 forecast TTD is not the right comparable to AT even though they are both DSPs. TTD is a juggernaut and has consistently shown they are able to make investments and grow revenues and have EBITDA follow on. Tal is not Jeff Green.
Is TTD expensive? YES! I do not own it but you can make a case that they are best in class.
In terms of AT, they would be cheap if they could deliver on something. The problem is that they have not been able to deliver on anything except marketing and pumping of illumin.
They simply have no credibility on the street anymore.
Capharnaum wrote: truthis0utther3 wrote: I am very well familiar with growth at a reasonable price. The problem is when growth is non existent.
TTD is surely overpriced but it is still considered by investors as a growth stock given they are growing revenues at a nice clip and they are best in class. AT has much more seasonality than TTD does and Q4 is supposed to be a monster quarter relatively speaking which does not bode well fororganic growth for Q1-Q3.
TTD grew revenue by increasing costs, yet you criticize AT's plans when they expect the same.
In the end, AT is still:
17x cheaper than TTD based on the revenue multiple (37x cheaper if you exclude cash from market cap).
26x cheaper based on EPS.
16x cheaper based on EBITDA (37x cheaper excluding cash from market cap)
That's using full year revenues/earnings.