The Trade Desk, Inc. (NASDAQ:TTD) is one of the Under-the-Radar Stocks to Buy with Massive Upside Heading into 2026. The Trade Desk, Inc. (NASDAQ:TTD) has fallen more than 14% since its fiscal Q3 2025 results were announced on November 6. The share price decline comes despite the company’s expectations being beaten during the quarter. Wall Street has had a mixed opinion on the stock ever since. ​On November 10, Tom White from D.A. Davidson reiterated a Buy rating on the stock, but lowered the price target ...

Advertisers now have access to a transparent view into where their ads are being delivered across all their CTV buys to enable them to find the most efficient pathways for their ad dollars. QSP is available across all major DSPs with strength in the second quarter on DV360 launched in the first quarter and on Amazon DSP launched late last year. QSP is part of Total Media Performance or TMP, an AI-driven bundle of our leading measurement and optimization solutions. According to our study of a client campaign ...

Core Insights - Sands Capital Select Growth Strategy reported a portfolio return of 6.3% in Q3 2025, underperforming the benchmark's 10.5% gain, driven by strong corporate earnings and AI enthusiasm [1] Company Overview - AppLovin Corporation (NASDAQ:APP) is a leading provider of advertising solutions for mobile game developers, with a one-month return of -7.10% and a 52-week gain of 78.47% [2][3] - As of November 26, 2025, AppLovin's stock closed at $586.37, with a market capitalization of $198.34 billion [2] Financial Performance - AppLovin's revenue increased by 68% year-over-year to approximately $1.405 billion in Q3 2025, with EBITDA margins reaching 81%, reflecting a 900 basis point expansion compared to the previous year [4] Strategic Initiatives - AppLovin plans to launch a self-serve ad manager in beta during Q4 2025, aiming to expand its reach beyond gaming into e-commerce, which is seen as a significant growth opportunity [3] - The company is adopting an AI-first approach, focusing on automation and AI-driven creative tools rather than relying on a large sales force [3]

Core Insights - Sabio Holdings Inc. reported its Q3 2025 financial results, highlighting a 2% year-over-year growth in its core ad-supported streaming category, excluding political and advocacy activities [2][5] - The company experienced significant growth in international revenue, which increased by 240% year-over-year, contributing 19% to consolidated gross revenue [5][11] - Sabio's programmatic revenue reached $1.9 million, accounting for 20% of consolidated gross revenue, indicating strong early adoption and scaling [5][11] Financial Highlights - Q3 gross revenue was $9.3 million, with net revenue at $8.2 million, reflecting an 11% decrease in normalized gross revenue when excluding political and advocacy activities [5][13] - Gross margin stood at 59%, influenced by the growing contribution of scalable programmatic channels [5][13] - Adjusted EBITDA was ($2.2 million), reflecting the revenue mix shift in a non-political year and ongoing investments in growth initiatives [5][13] Business Developments - The company achieved a 54% increase in branded logos in Q3, indicating strong customer diversification [5][11] - Nearly 70% of top customers for 2024 increased their spending year-to-date in 2025, underscoring deepening client relationships [5][11] - Sabio is entering 2026 with a robust pipeline, up nearly 60% year-over-year, and anticipates significant activity due to the upcoming U.S. mid-term elections [7][8] Strategic Initiatives - The launch of AVOD offerings on platforms like Plex and Xumo Play has expanded distribution and reach across various devices [11] - The company is focusing on enhancing its technology stack and diversifying its revenue base through programmatic and international channels [2][9] - Sabio's App Science™ database now covers 80 million U.S. households, representing approximately 70% of U.S. streaming households, which supports its advertising operations [11][22]

Core Insights - Wall Street analysts believe The Trade Desk and Chipotle Mexican Grill are poised for a rebound in 2026 despite being among the worst-performing stocks in the S&P 500 in 2025, with declines of 66% and 48% respectively [1][2] The Trade Desk - The Trade Desk is the leading demand-side platform (DSP) for the open internet, which allows brands to plan, measure, and optimize digital advertising campaigns [3] - The company benefits from its independence, as it does not own media content or advertising inventory, reducing conflicts of interest and enhancing data sharing with publishers [4] - Concerns about competition from Amazon have negatively impacted the stock, despite The Trade Desk's dominance in connected TV advertising [5] - The Trade Desk's CEO asserts that Amazon is not a direct competitor in open internet advertising, emphasizing the value of the open internet [6] - Analysts project an average target price of $62.60 per share for The Trade Desk, indicating a 56% upside from its current price of $40 [6] - Despite recent stock declines, adjusted earnings are expected to grow at 15% annually through 2028, making the current valuation of 22 times earnings appear fair [7] - The Trade Desk could potentially generate returns exceeding 50% for shareholders in the next year if economic conditions remain stable [8] Chipotle Mexican Grill - Chipotle operates over 3,900 fast-casual restaurants and focuses on sourcing responsibly raised meats and organic produce, which has resonated well with consumers [9] - The company has faced challenges this year, with same-store sales and customer traffic declining in the first two quarters, although there was a slight recovery in the third quarter [10][11] - Analysts expect Chipotle's earnings to grow at 12% annually over the next three years, making its current valuation of 27 times earnings reasonable [13] - The recent rollback of tariffs on imported beef and avocados is anticipated to benefit Chipotle, presenting a buying opportunity for investors [12]

Core Insights - Magnite experienced sales growth in the third quarter, with revenue rising 11% year over year to $179.5 million, driven by a significant increase in connected TV (CTV) advertising, which grew 18% year over year [9][10] - The company's net income surged 285% year over year to $20.1 million, resulting in a 225% increase in diluted earnings per share to $0.13 compared to $0.04 in 2024 [10] - Robert F Spillane, a board member, sold 12,500 shares for approximately $177,750, representing 18.8% of his direct holdings, but still retains nearly 54,000 shares, indicating no urgency to sell [2][6][9] Company Overview - Magnite is an independent sell-side advertising technology provider that facilitates digital ad transactions for publishers and media owners globally [5][7] - As of November 21, 2025, the company's market capitalization is $2.00 billion, with a trailing twelve months (TTM) revenue of $702.57 million and a net income of $57.97 million [5] Transaction Details - The transaction by Robert F Spillane occurred at a weighted average sale price of $14.22 per share, which was $0.14 above the market close of $14.08 on the transaction date [4] - Post-transaction, Spillane's direct ownership stands at 53,917 shares, valued at approximately $759,151 [2][6] Market Valuation - The stock's price-to-earnings (P/E) ratio is currently 35, down significantly from over 100 earlier in 2025, suggesting a more attractive valuation for potential investors [11]

Core Insights - AppLovin (APP) and The Trade Desk (TTD) both reported Q3 2025 earnings that exceeded estimates, but their market reactions diverged significantly, with APP's stock surging 71% over the past year while TTD's stock fell 68% from its highs [1] AppLovin (APP) - AppLovin's revenue increased by 68% year-over-year to $1.41 billion, surpassing the estimate of $1.34 billion [2][4] - The company reported a net income of $836 million, reflecting a 92% increase from the previous year, and achieved an operating margin of 76.8% [2][4] - Operating cash flow reached $1.05 billion, up 91% year-over-year, indicating strong cash generation capabilities [4][7] - AppLovin's business model leverages its AXON 2.0 AI engine, providing end-to-end AI solutions for mobile app developers, which contributes to its high operating margin [5] The Trade Desk (TTD) - The Trade Desk's revenue grew by 18% to $739 million, slightly exceeding the estimate of $719 million [3][4] - Operating income rose by 49% to $161 million, but net income growth of 23% lagged behind revenue growth, indicating potential margin pressures [3][4] - Operating cash flow declined by 18% year-over-year to $225 million, and the company's cash position decreased by 47% to $653 million [3][4][7] - TTD's strategy focuses on a self-service programmatic advertising platform for the open internet, which results in a different cost structure reflected in its 21.8% operating margin [6]

Core Viewpoint - Nexxen International Ltd. is initiating a new Ordinary Share repurchase program for up to $40 million, reflecting confidence in its long-term prospects and aiming to acquire shares at a discounted valuation [1] Group 1: Repurchase Program Details - The new repurchase program will commence after the current program concludes and is subject to a 30-day creditor objection period as per Israeli regulations [2] - The program requires consent from the Company's bank lenders but does not need Israeli court approval [2] - If no creditor objections arise and lender approvals are obtained, the program can begin, allowing for flexibility in the number of shares repurchased [3] Group 2: Current Share Status - As of October 31, 2025, Nexxen had 57,086,122 Ordinary Shares outstanding, excluding treasury shares, with approximately $13.9 million remaining under the current repurchase authorization [4] Group 3: Company Overview - Nexxen operates as a global advertising technology platform, specializing in data and advanced TV, with a technology stack that includes a demand-side platform and a supply-side platform [5] - The company is headquartered in Israel and has a presence in the United States, Canada, Europe, and Asia-Pacific, and is traded on Nasdaq under the ticker NEXN [6]

Core Insights - AppLovin's (APP) recent performance indicates strong momentum driven by high margins and an efficient business model, with a third quarter 2025 adjusted EBITDA margin of 82% showcasing its ability to convert revenue into profit effectively [1][6] Financial Performance - In the third quarter, AppLovin's revenues increased by 68% year over year, while EBITDA rose by 79%, and net income surged by 156%, demonstrating the company's efficiency in transforming growth into profitability [3][6] - The stock has gained 62% year to date, significantly outperforming the industry's 13% growth [5] Operational Efficiency - AppLovin's margin strength is attributed to its cost-light infrastructure and automated ad-delivery ecosystem, which reduces reliance on human-driven processes and enhances ad performance through generative AI [2][6] - The company's technology-first approach allows it to achieve operating leverage as revenue scales, validating its strategic direction [2] Competitive Landscape - Meta Platforms (META) is enhancing its AI-driven campaigns to maintain its market position against AppLovin's Axon, while The Trade Desk (TTD) is expanding its OpenPath platform, indicating intensifying competition in AI advertising [4] Valuation Metrics - AppLovin trades at a forward price-to-earnings ratio of 36.46, which is above the industry average of 23, and it carries a Value Score of D [7] - The Zacks Consensus Estimate for AppLovin's earnings has been increasing over the past 30 days, indicating positive sentiment [8][9]

Summary of Magnite's 2025 Conference Call Company Overview - **Company**: Magnite (NasdaqGS:MGNI) - **Date of Conference**: November 19, 2025 Key Industry Insights - **Industry**: Connected TV (CTV) and Digital Video (DV+) advertising - **Market Dynamics**: The CTV market is evolving rapidly, with significant growth driven by partnerships with major players like NBCU, Netflix, and Roku. The ad economy is showing signs of strength, particularly in the upfront season, which exceeded expectations [3][4][5]. Core Points and Arguments 1. **Performance Drivers**: The inclusion of NBCU as a new partner has been a significant growth driver, alongside existing relationships with Netflix and Roku. The overall ad economy is better than anticipated, leading to increased spending [3][4]. 2. **Growth in DV+**: DV+ has outperformed expectations, growing closer to 8% instead of the initially projected 5%. This growth is attributed to market share gains and a strong performance from the team [4][5]. 3. **Evolution of CTV**: The CTV market is still in its early stages, with a shift towards ad-supported models becoming the norm. The transition from direct sales to programmatic advertising is underway, with increasing access to programmatic inventory [10][11]. 4. **Competitive Landscape**: The primary competition comes from the direct sales teams of traditional media companies like Disney and Warner Bros. The programmatic inventory available is currently limited but is expected to grow as advertisers become more comfortable with programmatic methods [11][12]. 5. **Partnerships and Opportunities**: The partnership with Netflix is highlighted as a significant success, with expectations that it could become one of Magnite's largest customers in CTV. Other partnerships, particularly with commerce media companies, are seen as crucial for future revenue growth [20][21][22]. 6. **Revenue Dynamics**: Future revenue growth will be driven by both volume increases and potential take rate improvements. The current take rates are considered historically low, indicating room for growth [24][25][26]. 7. **Market Resilience**: Magnite's demand facilitation team is larger than its supply team, emphasizing the importance of strong relationships with demand partners. The company is positioned to thrive despite challenges faced by other supply-side platforms (SSPs) [39][40]. Additional Important Insights - **Impact of Google Antitrust**: The ongoing antitrust case against Google is seen as a potential opportunity for Magnite, with expectations that any remedies could benefit the company. The legal landscape is complex, and outcomes remain uncertain [47][50]. - **Future of Advertising Technology**: The emergence of agentic technologies is expected to simplify the advertising process, with Magnite positioned to play a central role in this evolution. The integration of AI and new protocols is anticipated to enhance the advertising ecosystem [51][52][53]. Conclusion Magnite is navigating a rapidly changing advertising landscape with strong growth in CTV and DV+. The company is leveraging strategic partnerships and evolving market dynamics to position itself for future success, while also preparing for potential challenges from regulatory changes and competition.