News Summary
The digital marketing industry is projected to grow from $410.70 billion in 2024 to $1.19 trillion by 2033, indicating a strong CAGR of 11.2%. Key players like Thryv Holdings, The Trade Desk, and HubSpot are making significant moves, attracting investor attention with robust financial results and strategic acquisitions. This article explores their performances and growth potential in the thriving digital advertising space.
The Booming World of Digital Advertising Stocks to Keep an Eye On
The digital marketing industry is really on the rise! With projections indicating it will grow from $410.70 billion in 2024 to a whopping $1.19 trillion by 2033, there’s a lot to be excited about. This corresponds to a robust compound annual growth rate (CAGR) of 11.2%, showcasing the expanding landscape of digital advertising and marketing.
Notable Digital Advertising Stocks
As we look ahead, some notable players are catching the attention of investors. Companies like Thryv Holdings, Inc. (THRY), The Trade Desk, Inc. (TTD), and HubSpot, Inc. (HUBS) are making significant moves within this dynamic environment.
Thryv Holdings, Inc. (THRY)
First on our list is Thryv Holdings, Inc. (THRY). This company specializes in digital marketing solutions geared towards small-to-medium businesses. They cover a lot of ground with offerings that include customer relationship management (CRM), search engine optimization (SEO), digital advertising, appointment scheduling, and even payment processing.
Recently, on October 31, 2024, THRY completed an impressive $80 million cash acquisition of Infusion Software, Inc. (Keap), which enhances its Software as a Service (SaaS) solutions. The company’s fiscal third quarter results for September 30, 2024, revealed revenue of $179.85 million and an adjusted gross profit of $116.84 million, which marks a gratifying 5.6% increase year-over-year.
Investors may be looking forward to THRY’s strong potential in the upcoming quarter. Analysts are predicting an astonishing 97.9% year-over-year increase for THRY’s earnings per share (EPS) and expect revenue to reach $183.02 million for Q4 2024.
In terms of performance rankings, THRY has a POWR Ratings grade of B in Growth and Value, placing it at #25 out of 40 in the Software – Business industry.
The Trade Desk, Inc. (TTD)
Next up is The Trade Desk, Inc. (TTD), which offers a sophisticated cloud-based platform for managing digital advertising campaigns. Their cutting-edge tools help businesses enhance their campaign performance.
As exciting news, on November 14, 2024, TTD’s stockholders approved the company’s reincorporation from Delaware to Nevada. In Q3 2024, TTD reported a remarkable 27.3% increase year-over-year in revenue, reaching $628.02 million, with operating income sitting at $108.48 million, reflecting a staggering 187.9% increase year-over-year.
Looking to the future, TTD is anticipating a 25.3% revenue growth to approximately $759.32 million and an impressive 38.6% EPS growth predicted at $0.57 as they close out 2024. Over the past six months, TTD stock has gained 27.1% and a remarkable 65.3% over the past year, closing at $121.67. TTD holds an A grade in Growth and B for Quality, ranked #63 out of 126 in the Software – Application industry.
HubSpot, Inc. (HUBS)
And lastly, let’s talk about HubSpot, Inc. (HUBS). This company provides a cloud-based CRM platform that integrates various tools for marketing, sales, customer service, and operations, primarily focusing on mid-market B2B companies.
In another move to bolster its offerings, HUBS acquired Cacheflow on October 30, 2024, enhancing its Commerce Hub. In Q3 2024, HUBS reported a 20.1% year-over-year revenue increase to $669.72 million, with non-GAAP operating income reaching $125.21 million—a solid 35.9% increase.
For Q4 2024, HUBS projects revenue to hit $673.96 million (up 15.8% year-over-year) with EPS expected to grow by 24.8% to $2.20. It’s notable that HUBS has consistently exceeded consensus EPS and revenue estimates for the last four quarters. Investors should be interested to see that HUBS stock price increased by 24.6% over the past six months and 22.3% over the last year, closing at $714.96. HUBS boasts an A grade in Growth and a B for Sentiment, placing it at #21 out of 40 in the Software – Business sector.
In Conclusion
The digital advertising landscape is rapidly evolving, and with strong companies like THRY, TTD, and HUBS leading the charge, it’s an exciting time for investors looking into this thriving market. Whether you’re already familiar with these stocks or just learning about them, keeping a close watch could be very rewarding!
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