Report
Ali Mogharabi
EUR 100.00 For Business Accounts Only

Criteo’s Retargeting Facing Additional Risk from Another Behemoth

We are reducing our fair value estimate of Criteo to $25 per share from $35 as certain steps that may be taken by Alphabet’s Google could hit Criteo’s ad retargeting business. According to an article in AdWeek, in order to address data privacy issues Google may be considering limiting data access to third parties that may include ad-tech firms such as Criteo. In our view, while it is less probable that Google will very aggressively take such path, as advertising represents over 80% of its revenu...
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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