Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>The Trade Desk's recent third-quarter earnings highlighted several aspects of its business performance that are both promising and challenging, offering a detailed picture of the company's current position and future prospects.</li><li>The company's revenue for the quarter grew by 27% year-over-year, reflecting strong market performance across various segments, notably connected TV (CTV), which remains its fastest-growing channel.</li><li>Executives pointed to The Trade Desk's strategic expansions globally, particularly in regions outside North America, as contributing factors to its overall growth.</li></ul>

The Trade Desk's recent third-quarter earnings highlighted several aspects of its business performance that are both promising and challenging, offering a detailed picture of the company's current position and future prospects.The company's revenue for the quarter grew by 27% year-over-year, reflecting strong market performance across various segments, notably connected TV (CTV), which remains its fastest-growing channel.Executives pointed to The Trade Desk's strategic expansions globally, particularly in regions outside North America, as contributing factors to its overall growth.

The Trade Desk Inc.: The CTV and Global Market Penetration & Other Major Drivers

<ul><li>The Trade Desk reported a robust performance for the second quarter of 2024, with notable year-over-year revenue growth of 26%, totaling $585 million.</li><li>This growth considerably surpasses the growth rates experienced by peer companies within the digital marketing sector, emphasizing The Trade Desk's consistent ability to capture increased market share.</li><li>This trend is particularly highlighted in areas like Connected TV (CTV), which continues to be a strong driver of the company's expansion.</li></ul>

The Trade Desk reported a robust performance for the second quarter of 2024, with notable year-over-year revenue growth of 26%, totaling $585 million.This growth considerably surpasses the growth rates experienced by peer companies within the digital marketing sector, emphasizing The Trade Desk's consistent ability to capture increased market share.This trend is particularly highlighted in areas like Connected TV (CTV), which continues to be a strong driver of the company's expansion.

The Trade Desk Inc.: A Story Of Expanded Connected TV (CTV) Partnerships & Retail Media Network Expansion! - Major Drivers

<ul><li>The Trade Desk, during its Q1 2024 earnings, reported a promising start to the year, with a revenue growth of 28%, accelerated on both a sequential and year-over-year basis, and outpacing the digital advertising industry.</li><li>The call highlighted the strong performance of the open internet, with more than 90% of the largest 200 advertisers worldwide running advertising campaigns on the company's platform over the past year.</li><li>The fastest-growing channel was Connected TV (CTV), wherein partnerships with industry giants such as Disney, NBCU, Walmart, Amazon, Roku, and LG Electronics have offered advertisers more opportunities.</li></ul>

The Trade Desk, during its Q1 2024 earnings, reported a promising start to the year, with a revenue growth of 28%, accelerated on both a sequential and year-over-year basis, and outpacing the digital advertising industry.The call highlighted the strong performance of the open internet, with more than 90% of the largest 200 advertisers worldwide running advertising campaigns on the company's platform over the past year.The fastest-growing channel was Connected TV (CTV), wherein partnerships with industry giants such as Disney, NBCU, Walmart, Amazon, Roku, and LG Electronics have offered advertisers more opportunities.

The Trade Desk Inc.: Increasing Adoption of Open Internet Promoting High CPMs and Better Ad Experiences! - Major Drivers

<ul><li>The Trade Desk had a robust finish to the year 2023 with a record total spend on their platform reaching almost $10 billion and revenue for the fourth quarter crossing the $600 million mark for the first time.</li><li>This growth has significantly outpaced the digital advertising market with a year-on-year growth of 23%.</li><li>The company also reported an adjusted EBITDA of over $770 million in 2023 and free cash flow upwards of $543 million.</li></ul>

The Trade Desk had a robust finish to the year 2023 with a record total spend on their platform reaching almost $10 billion and revenue for the fourth quarter crossing the $600 million mark for the first time.This growth has significantly outpaced the digital advertising market with a year-on-year growth of 23%.The company also reported an adjusted EBITDA of over $770 million in 2023 and free cash flow upwards of $543 million.

The Trade Desk Inc: Their Increasing Readiness for Identity Pivots A Potential Game Changer? - Major Drivers

<ul><li>Trade Desk Inc. delivered an all-around beat in the previous quarter, with a robust revenue of $493 million, showcasing a 25% growth compared to the previous year.</li><li>In AI, their approach involves targeted investments in bidding, pricing, value, and ad relevance, showcasing their commitment to delivering impactful and real results.</li><li>Retail media emerges as a powerful growth driver, particularly with partnerships with major retailers like Walmart, Target, and Instacart.</li></ul>

Trade Desk Inc. delivered an all-around beat in the previous quarter, with a robust revenue of $493 million, showcasing a 25% growth compared to the previous year.In AI, their approach involves targeted investments in bidding, pricing, value, and ad relevance, showcasing their commitment to delivering impactful and real results.Retail media emerges as a powerful growth driver, particularly with partnerships with major retailers like Walmart, Target, and Instacart.

Trade Desk Inc.: Enhancing Programmatic Advertising For CPG Brands & Other Major Drivers

United States

The Trade Desk, Inc. operates as an advertising technology company. The Company offers online advertising platform that manages display, social, mobile, and video advertising campaigns. Trade Desk serves customers worldwide.

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Trade Desk / (TTD US)

The Trade Desk Inc.: The CTV and Global Market Penetration & Other Major Drivers

The Trade Desk's recent third-quarter earnings highlighted several aspects of its business performance that are both promising and challenging,...

Baptista Research

The Trade Desk Inc.: A Story Of Expanded Connected TV (CTV) Partnerships & Retail Media Network Expansion! - Major Drivers

The Trade Desk reported a robust performance for the second quarter of 2024, with notable year-over-year revenue growth of 26%, totaling $585...

Baptista Research

The Trade Desk Inc.: Increasing Adoption of Open Internet Promoting High CPMs and Better Ad Experiences! - Major Drivers

The Trade Desk, during its Q1 2024 earnings, reported a promising start to the year, with a revenue growth of 28%, accelerated on both a...

Baptista Research

The Trade Desk Inc: Their Increasing Readiness for Identity Pivots A Potential Game Changer? - Major Drivers

The Trade Desk had a robust finish to the year 2023 with a record total spend on their platform reaching almost $10 billion and revenue for the...

Baptista Research

Trade Desk Inc.: Enhancing Programmatic Advertising For CPG Brands & Other Major Drivers

Trade Desk Inc. delivered an all-around beat in the previous quarter, with a robust revenue of $493 million, showcasing a 25% growth compared to...

Baptista Research

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