1 Growth Stock Down 50% to Buy Right Now

Some investors took one look at The Trade Desk's (NASDAQ: TTD) fourth-quarter results and slammed the sell button. The digital advertising expert missed Wall Street's consensus revenue target for the first time since the company went public in 2016. The stock closed 33% lower the next day, erasing a year's worth of market-beating gains. Right now, The Trade Desk's stock is down 50% from its annual peak.

In my eyes, that's a wide-open invitation to buy this top-quality growth stock. It's still not a cheap stock, trading at 90 times trailing earnings and 14 times sales. But that's way down from recent peaks, with price-to-earnings (P/E) ratios often soaring above 200 and price-to-sales (P/S) figures briefly peeking above 30. So, from a historical point of view, The Trade Desk's shares look quite affordable right now.

And you can't forget about the company's massive growth potential. Remember the inflation crisis that led to a bear market in 2022? The Trade Desk's stock followed the market lower, but you wouldn't have guessed that if you were looking at the company's business results. The blue price chart in the graph below shows you the market action, but do you even see a slowdown in The Trade Desk's sales growth? Meanwhile, its cash profits continued to trend upward:

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