5 Growth Stocks To Buy That Are Too Cheap To Ignore

In this piece, we will take a look at the five growth stocks that are too cheap to ignore. For more stocks, head on over to 10 Growth Stocks To Buy That Are Too Cheap To Ignore.

5. The Trade Desk, Inc. (NASDAQ:TTD)

Number of Hedge Fund Holders: 34

The Trade Desk, Inc. (NASDAQ:TTD) is a cloud service company that provides advertisers with the opportunity to run programmatic advertisement campaigns across computers, connected televisions, and smartphones. The firm is headquartered in Ventura, California.

The Trade Desk, Inc. (NASDAQ:TTD) is widely expected to deliver strong third quarter results in November 2022, with analysts expecting the firm to rake in $386 million in revenue to mark 28% growth – at a time when the global advertising industry is slowing down, as evident by SNAP’s painful share price bloodbath. Analysts also expect the firm to deliver 33% annual revenue growth, as it is helped by the midterm elections in the United States. The Trade Desk, Inc. (NASDAQ:TTD) also beat analyst EPS and revenue estimates in this year’s first and second quarters.

Craig-Hallum set a Buy rating and a $7 share price target for the company in October 2022, stressing that it has delivered strong quarterly growth. 34 out of the 895 hedge funds polled by Insider Monkey during this year’s second quarter had invested in the firm.

The Trade Desk, Inc. (NASDAQ:TTD)’s largest investor is Nancy Zevenbergen’s Zevenbergen Capital Investments which owns 3.2 million shares that are worth $138 million.

Polen Capital mentioned the company in its Q3 2022 investor letter. Here is what the fund said:

“The top absolute contributors to the Portfolio’s performance over the quarter included Wingstop, The Trade Desk, Inc. (NASDAQ:TTD), and Paycom.

The Trade Desk, the leading independent demand-side platform for programmatic advertising, delivered very strong results in the quarter which were especially impressive given the difficult year-over-year growth comparisons and the weakness that many of its ad tech peers had been experiencing more recently. This is a business that benefits from solid secular tailwinds amidst a difficult macro backdrop and we believe the company has a particularly long runway ahead of it with the ability to compound sales and EPS(earnings per share) at >25-30% for many years.”