Pacific Crest Securities Analyst Beginning To Show Concern For Criteo SA (CRTO)
Analyst Evan Wilson of Pacific Crest maintained his Overweight rating for Criteo SA (NASDAQ:CRTO) with a price target of $53, marking a 25% increase from current levels.
Although he maintained his rating, the analyst is wary after Criteo’s market share for cookies went down. Wilson’s Q2 cookie checks indicated Criteo has a 58% market share, down from 62% in Q1. Nonetheless, the analyst does not expect this to impact shares in the short term. As of now the analyst remains confident that Criteo can “grow with the MMS, [Multi Media Messaging] (which is less than 10% penetrated) and both channel (email, search) and geographic (China) expansion.” Wilson does add that if the stock continues to fall, he may have a different opinion. According to TipRanks, Wilson has a success rate of 55% with an average loss of 0.2% per recommendation.