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VENTURA, Calif. - The Trade Desk (NASDAQ:TTD), a digital advertising technology company with a market capitalization of $43.1 billion and impressive revenue growth of 25% over the last twelve months, announced Thursday that Alex Kayyal will become its new Chief Financial Officer effective August 21, replacing Laura Schenkein who is stepping down after more than a decade in finance leadership positions at the company. According to InvestingPro analysis, the company maintains excellent financial health with strong profitability metrics.
Kayyal, who currently serves on The Trade Desk’s board of directors, will maintain his board position while assuming the CFO role. He will report directly to CEO and Co-Founder Jeff Green and will be responsible for leading the advertising technology company’s long-term financial and investment strategy. The incoming CFO will oversee a company that boasts an impressive 80% gross profit margin and maintains strong liquidity with a current ratio of 1.81.
Schenkein will remain with the company as a non-executive officer through the end of 2025 to ensure a smooth transition of responsibilities.
"Having worked closely with Laura for almost 12 years, I have nothing but admiration and respect for her many contributions to the company’s success," Green said in a press release statement.
Kayyal brings extensive experience as an investor and operator in the technology sector. He previously spent nearly a decade at Salesforce in various executive roles, including Senior Vice President and Managing Partner of Salesforce Ventures. Most recently, he served as a Partner at Lightspeed Venture Partners where he led the firm’s application software practice.
Earlier in his career, Kayyal worked at Merrill Lynch and helped establish Hermes Growth Partners, where he led the firm’s investment in The Trade Desk. He holds an MBA from Harvard Business School and a BA from Boston University.
The Trade Desk, headquartered in Ventura, California, operates a self-service, cloud-based platform that enables buyers to create and manage digital advertising campaigns across various formats and devices. InvestingPro analysis reveals the company holds more cash than debt on its balance sheet and has demonstrated strong cash flow generation, with 13 additional exclusive ProTips available for subscribers. Get deeper insights into TTD’s financial performance and future prospects with InvestingPro’s comprehensive research report, part of their coverage of over 1,400 US stocks.
In other recent news, The Trade Desk is garnering attention from analysts ahead of its upcoming earnings report. Evercore ISI has reiterated an Outperform rating on the company, citing expectations for better-than-expected second-quarter results. The firm highlights the continued penetration of The Trade Desk’s Kokai and OpenPath platforms as key drivers for revenue growth. BTIG has also raised its price target for The Trade Desk to $97 from $79, maintaining a Buy rating and pointing to a stabilized digital advertising market. Similarly, Oppenheimer increased its price target to $110 from $80, maintaining an Outperform rating and noting a favorable tariff outlook. Stifel joined the trend by raising its price target to $95 from $87, while also expecting upside to the company’s second-quarter numbers. These developments reflect a positive sentiment among analysts towards The Trade Desk’s performance and market positioning.
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