TSX:ILLM - Post Discussion
Post by
retiredcf on May 27, 2022 7:23am
RBC on TTD
Given the fallout from SNAP, this was interesting from a sector perspective. In the case of TTD, they are looking for a near double with a US$85.00 target. GLTA
The Trade Desk, Inc. 8K reaffirms Q2/22 guidance
Our view: While not a surprise given the company reported earnings two weeks ago, in an 8K filed in conjunction with the company's annual meeting of shareholders, Trade Desk has re-iterated guidance for the second quarter with revenue/adj-EBITDA of $364M/$121M. We view this as a reaction to recent macro commentary from SNAP and should be a positive for sentiment.
All you need to know: In an 8K filed in conjunction with the company's annual meeting of shareholders, Trade Desk has re-iterated guidance for the second quarter with revenue/adj-EBITDA of $364M/$121M. While this shouldn't be a surprise with the company reporting two weeks ago, we view it as a response to Snapchat talking down expectations at a conference on Monday citing macro headwinds which created a broad sell-down across advertising and social peers.
Our view: Following the SNAP commentary, we had time to connect with 10 public and private ad-tech players and the general consensus was that commentary around a further macro slowdown in May came as a surprise. Specifically on TTD, we'd note when the company reported two weeks ago they were seeing a resilient environment in Europe, strength from CTV, a ramping retail media business and expectations for a strong political spending environment still to come. We think from catching up with them following the news that they were also surprised by comments around a deteriorating macro-environment. We believe the announcement will be welcomed by investors as a positive for sentiment which shifted following the announcement from SNAP with several investors we spoke with hoping for a statement of this nature to reassure the market.
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