Report
Ali Mogharabi
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Criteo 1Q Results Beat Expectations, but Guidance Disappoints; Maintaining $25 FVE

Criteo’s first-quarter results exceeded expectations, but the firm provided a disappointing revenue outlook for the second quarter and full-year 2019. Criteo experienced a sequential decline in clients and lower monetization of those clients during the quarter, which we think may continue through the year. The firm posted revenue weakness in Europe, which indicates the ongoing impact of Apple’s ITP, further implementation of EU privacy legislation GDPR, and further data access limitation to be p...
Underlying
CRITEO S.A

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Ali Mogharabi

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