In a recent transaction, Sarah Glickman, Chief Financial Officer of Criteo S.A. (NASDAQ:CRTO), sold 5,442 ordinary shares of the company. The shares were sold at a price of $40.60 each, totaling $220,945. This transaction was conducted on October 23, 2024, as part of an automatic sale to cover tax withholding obligations related to a previous security award. Following this sale, Glickman holds 313,398 shares in Criteo. The shares sold may be represented by American Depositary Shares, each corresponding to one ordinary share.
In other recent news, Criteo S.A. has reported a strong Q2 earnings report, with revenue totaling $471 million and adjusted EBITDA of $93 million, marking the third consecutive quarter of double-digit organic growth. Following these positive earnings, DA Davidson upgraded Criteo's stock to 'Buy' from 'Neutral', setting a new price target of $58.00, while BMO Capital Markets maintained its 'Outperform' rating, increasing its price target to $55.00. Both firms expressed confidence in the company's future prospects.
Adding to these developments, Criteo announced the unexpected retirement of CEO Megan Clarken, who has committed to remain with the company for the next 12 months and act as an advisor during the transition. The company is currently considering both internal and external candidates for the position. KeyBanc maintained its Sector Weight rating on Criteo shares despite this news, expressing confidence in the continuity of Criteo's strategic direction.
These recent developments provide insights into the ongoing transition and financial performance of Criteo. As it stands, the company's strategic direction and leadership transition are being closely monitored by various stakeholders.
InvestingPro Insights
While Sarah Glickman's recent sale of Criteo S.A. (NASDAQ:CRTO) shares was part of a tax-related transaction, it's worth examining the company's financial health and market performance to provide context for investors.
According to InvestingPro data, Criteo's market capitalization stands at $2.3 billion, with a P/E ratio of 24.61. The company's revenue for the last twelve months as of Q2 2024 was $1.96 billion, showing a modest growth of 1.64%. Notably, Criteo's EBITDA growth over the same period was more impressive at 26.23%, indicating improved operational efficiency.
InvestingPro Tips reveal that management has been aggressively buying back shares, which could be seen as a vote of confidence in the company's future prospects. Additionally, Criteo holds more cash than debt on its balance sheet, suggesting a strong financial position. This aligns with another tip indicating that the company's liquid assets exceed short-term obligations, providing financial flexibility.
The stock's performance has been robust, with a year-to-date price total return of 61.93% as of the latest data. This significant outperformance may be attributed to the company's solid financials and market positioning.
For investors seeking a deeper understanding of Criteo's potential, InvestingPro offers 11 additional tips, providing a comprehensive view of the company's strengths and challenges. These insights can be valuable for those looking to make informed investment decisions in the digital advertising sector.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.