CRTO

Criteo S.A - ADR

TMT


Presented:06/17/2021
Price:$39.25
Cap:$2.39B
Current Price:$40.62
Cap:$2.22B

Presented

Date06/17/2021
Price$39.25
Market Cap$2.39B
Ent Value$1.83B
P/E Ratio30.13x
Book Value$18.25
Div Yield0%
Shares O/S60.79M
Ave Daily Vol694,210
Short IntN/A

Current

Price$40.62
Market Cap$2.22B
Criteo SA is a global technology company, which specializes in digital performance marketing. The firm enables e-commerce companies to leverage large volumes of granular data to engage and convert their customers. Its solutions include Criteo Marketing Solutions, Criteo Shopper Graph, Criteo AI Engine, Criteo Retail Media, and Publisher Network. The company was founded by Jean-Baptiste Rudelle, Franck Le Ouay, Pascal Gauthier, Laurent Quatrefages and Romain Niccoli on November 3, 2005 and is headquartered in Paris, France.

Publicly traded companies mentioned herein: Alphabet Inc (GOOG), Apple Inc (APPL), Criteo SA (CRTO) 

Highlights

The presenter is long shares of Criteo SA (CRTO), a global technology company that provides marketing and monetization services on the open Internet. CRTO has a ~$2B market cap and high short interest as many investors view the company as a legacy adtech business. With the stock trading at ~$39, or ~7x 2022 EBITDA, he believes investors misunderstand the turnaround story which involves the shift from retargeting to its multi-product retail media business. With proper execution he sees a clear path to $60 (10x his 2022 EBITDA estimate, which is ~20% above the Street), with upside to $100 in a best case scenario if the stock is viewed as a growth stock and trades up to 6x his 2022 revenue estimate, which is still a discount to other adtech names. 

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Idea Discussion

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