The Ventura, Calif., company reported earnings of $3.71 a share, nearly twice the $1.88 consensus estimate of analysts surveyed by FactSet.
Revenue of $319.9 million exceeded the FactSet call for $292.4 million.
For the first quarter, the company expects revenue between $214 million and $217 million vs. the consensus estimate of $208.4 million.
Trade Desk shares at last check jumped 7.2% to $907.77.
Analysts at DA Davidson upgraded the stock to buy from neutral while doubling their price target to $985 a share from $490.
“Although parts of TTD’s business were pressured from COVID, we had significantly underestimated how the pandemic would catalyze a significant acceleration in a broader trend of both consumer and advertiser adoption of CTV," said analyst Tom White.
Stifel analyst John Egbert called the company's quarter impressive, according to Bloomberg. He raised the firm's price target to $875 from $850 and affirmed a hold rating.
Jefferies analyst Brent Thill also maintained his hold rating while raising the price target to $880 from $800.
"TTD is well positioned for ‘21 as industry ad shift to programmatic and CTV accelerates, macro rebounds, and new products launch," Thill said, according to Bloomberg.
Susquehanna analyst Shyam Patil rates the company positive. He raised the firm's price target to $1,000 from $925.
And Berenberg analyst David Beckel affirmed a buy rating. He noted that the company did not provide full-year revenue guidance, but he also said its underlying trends remain strong.