Criteo (CRTO): New Search Product Already In Beta - Jefferies
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Jefferies analyst, Brian Pitz, reiterated his Buy rating on shares of Criteo S.A. (NASDAQ: CRTO) after senior management took a positive tone and reaffirmed its ambitious long-term operating model at the company's analyst day.
Since the IPO, Adj. EBITDA margin has grown from ~5% to 11%. Longer-term, margin could reach 15-17%. Criteo is now serving ads directly onto Google.com for the first time ever. The analyst is optimistic this promising new search product could drive upside to estimates in 2017 and beyond since it is already in the beta testing phase.
No change to the price target of $63.
Shares of Criteo S.A. closed at $36.33 yesterday.
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Related EntitiesJefferies & Co, IPO
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