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Investing.com - BMO Capital raised its price target on Criteo S.A. (NASDAQ:CRTO) to $51.00 from $49.00 on Thursday, while maintaining an Outperform rating on the stock. The company, currently valued at $1.22 billion, appears undervalued according to InvestingPro analysis, with shares trading at just 3.73x EV/EBITDA.
The price target increase follows Criteo’s second-quarter 2025 results, which showed Contribution ex-TAC and Adjusted EBITDA exceeding consensus expectations by 6% and 34%, respectively. The company maintains excellent financial health, earning a "GREAT" rating from InvestingPro, supported by a perfect Piotroski Score of 9 and strong cash flows that easily cover interest payments.
Criteo has raised its 2025 Contribution ex-TAC guidance to 3-4% constant currency growth, up from its previous low-single-digit percentage growth forecast.
BMO Capital noted that Criteo’s AI opportunity is increasingly in focus, highlighting the company’s leverage of real-time inventory, pricing, and availability data as a durable advantage in Retail Media.
The firm believes Criteo remains well-positioned to gain Retail Media market share while its Performance Media business benefits from the continuation of cookies, with shares currently trading at approximately 3 times 2026 estimated Adjusted EBITDA.
In other recent news, Criteo has announced significant leadership changes as part of a strategic restructuring to drive growth. Todd Parsons (NYSE:PSN), previously Chief Product Officer, has been promoted to Chief Product Officer and President of Performance Media. Sherry Smith has also been elevated to President of Retail Media from her role as Executive Managing Director, Americas. Additionally, Wilfried Schobeiri has been appointed as Senior Vice President, Head of Product, Performance Media, reporting to Parsons.
Criteo has formed a new partnership with WPP (LON:WPP) Media to enhance commerce signals in Connected TV advertising, leveraging real-time data from 17,000 e-commerce sites. This collaboration aims to create curated audiences that can be activated through any demand-side platform. Furthermore, Criteo has teamed up with Mirakl Ads to improve retail media for marketplace sellers, combining their ad-serving technology with Mirakl’s ecosystem for better monetization.
In analyst updates, Benchmark has lowered its price target for Criteo to $42, citing concerns over retail media, while maintaining a Buy rating. The firm anticipates second-quarter adjusted EBITDA to meet expectations, with a slight potential upside due to favorable foreign exchange conditions. These developments highlight Criteo’s ongoing efforts to expand its market presence and enhance its product offerings.
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