Criteo (CRTO): Analyst Day Preview - Jefferies
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Jefferies analyst, Brian Pitz, reiterated his Buy rating on shares of Criteo S.A. (NASDAQ: CRTO) and previewed the company's upcoming investor day. The analyst believes the Investor Day will be a positive catalyst if management provides details about a new, promising search product. He expects mostly positive commentary given the strong fundamental trends since CRTO has posted results ahead of guidance for 11 straight quarters.
The analyst noted that management previously disclosed a new search product is under development, but has not discussed details around the technology, launch timing, or potential financial impact. Unlike Google, Criteo's search product is expected to allow advertisers to leverage Criteo's unique data set which tracks 1B+ users each month to serve ads directly into Google's search engine results page (SERP).
No change to the price target of $63.
Shares of Criteo S.A. closed at $35.80 yesterday.
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