In this article, we discuss the top 5 gainers on Wednesday. If you want to see some more stocks moving higher today, go directly to Top 10 Gainers on Wednesday.
5. The Trade Desk, Inc. (NASDAQ:TTD)
Number of Hedge Fund Holders: 34
Shares of The Trade Desk, Inc. (NASDAQ:TTD) climbed over 16 percent in the pre-market trading session today following the company’s second-quarter results. The California-based tech company earned 20 cents per share on an adjusted basis, up from 18 cents per share in the year-ago period.
In addition, The Trade Desk, Inc. (NASDAQ:TTD) generated revenue of $377 million in the quarter, representing a jump of 34.6 percent over the comparable period of 2021. Analysts were looking for earnings of 20 cents per share on revenue of $364.87 million.
Looking forward, The Trade Desk, Inc. (NASDAQ:TTD) expects to produce revenue of at least $385 million in the third quarter, above analysts’ average estimate of $382.58 million.
Separately, investment management firm Rowan Street Capital LLC also talked about The Trade Desk, Inc. (NASDAQ:TTD) in its second-quarter 2022 investor letter, stating:
“Jeff Green, Founder/CEO of Trade Desk
Jeff has been on a mission to make data-driven advertising as ubiquitous as electronic trading in equities ever since he founded the Trade Desk in 2009. Since day one, his goal was to create a platform where advertisers could value media inventory through data-driven decisions. With the ability to buy and sell advertising inventory electronically or programmatically, advertisers could use data to make better decisions on what, when, and whom to show an ad impression. Jeff owns 10% of the company. Jeff has built Trade Desk into a leader in ad tech, with a record of $6.2 billion spend on the platform in 2021, up 6x since 2016. Revenues are estimated to hit $1.6 billion in 2022, up almost 8x since 2016.”