TTD → $11.00 by Nov 12, 2026.

I saw many TTD posts where the entire comparison is based on P/E or P/FCF ratios, without taking a deeper look into the business. That's what I did. TLDR: \- Still overvalued \- Google/Amazon became their competitors, and the pressure on revenue/margin will continue \- Had 4 CFOs in 13 months \- Terrible at capital allocation (used $2.5b on buybacks to reduce share count by 4%) \- No moat \- No operating leverage Full deep dive (\~6 minutes reading time) …