Mark Zgutowicz, an analyst from Benchmark Co., maintained the Buy rating on Criteo SA (CRTO – Research Report). The associated price target was lowered to $46.00.
Mark Zgutowicz has given his Buy rating due to a combination of factors that highlight Criteo SA’s potential despite current challenges. The company is navigating significant changes, such as the transition of its largest client and the exit of Uber Eats US, which have created a temporary optical setback. Additionally, there is a fluid macroeconomic environment affecting retail department stores, fashion, and beauty sectors, contributing to a volatile trading range in the near term.
Despite these hurdles, Criteo is making meaningful progress in optimizing site pages for advertisers and collaborating with partners like Microsoft to develop a programmatic retail media solution. These efforts position Criteo favorably in the full funnel retail media performance space. Although the pace of progress is slower than desired, the company is expected to benefit as these initiatives align more closely. Consequently, Zgutowicz maintains a Buy rating, anticipating that the stock will be rewarded as these strategic pieces come together.
In another report released today, Wells Fargo also maintained a Buy rating on the stock with a $54.00 price target.
Based on the recent corporate insider activity of 39 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CRTO in relation to earlier this year.