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CRTO

Criteo

$22.18

-3.27 (-12.85%)

, FB

Facebook

$163.93

1.41 (0.87%)

11:18
09/07/18
09/07
11:18
09/07/18
11:18

Criteo drops after analyst notes loss of Facebook Marketing Partner status

Shares of Criteo (CRTO) are dropping after a Goldman Sachs analyst noted that the company has lost its Facebook Marketing Partner status. CRITEO LOSES FB STATUS: In a research note to investors, Goldman Sachs analyst Heath Terry said recent French press reports, which have been verified by the company, confirm that Facebook (FB) decertified Criteo as a Facebook Marketing Partner on July 1. The decertification means Criteo is no longer referenced as a Facebook preferred marketing partner and will not have access to beta testing new features, according to the analyst. Terry said Criteo indicated that its customized integration no longer fit Facebook's priorities and, over time, the company expects to shift to Facebook's standard application program interface. While Terry said he expects the financial impact to be limited in the near-term, he noted that Facebook only represented 4% of Criteo revenue ex-traffic acquisition cost in the second quarter, and, therefore, sees this as a further sign of tightening standards among advertisers and publishers. He kept a Neutral rating on Criteo shares and lowered his 2018-2020 revenue ex-TAC estimates by 2%, on average, to reflect potential pressure to net revenue from Facebook. PRICE ACTIONS: Criteo has dropped about 13% to $22.18 in morning trading.

CRTO

Criteo

$22.18

-3.27 (-12.85%)

FB

Facebook

$163.93

1.41 (0.87%)

  • 11

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    Oct

CRTO Criteo
$22.18

-3.27 (-12.85%)

08/02/18
DBAB
08/02/18
NO CHANGE
Target $38
DBAB
Buy
Criteo price target lowered to $38 from $50 at Deutsche Bank
Deutsche Bank analyst Lloyd Walmsley lowered his price target for $38 following the company's Q2 results. The analyst, however, keeps a Buy rating on the shares despite a "disappointing outlook and concerning trends." The analyst believes Criteo is "taking its medicine - operationally and from a guidance perspective," and he likes the risk/reward at current share levels.
08/02/18
RHCO
08/02/18
NO CHANGE
Target $33
RHCO
Buy
Criteo price target lowered to $33 from $39 at SunTrust
SunTrust analyst Matthew Thornton lowered his price target on Criteo to $33 after the company's "out of left field" internal issues resulted in the reduction of its FY revenue growth outlook. The analyst notes that the steps by the returning CEO to reposition the company's products and salesforce is weighing on its credibility. Thornton also kept his Buy rating on Criteo on valuation, growing cash, and the management's expectations of high-single-digit sales growth next year.
08/02/18
KEYB
08/02/18
NO CHANGE
Target $42
KEYB
Overweight
Criteo price target lowered to $42 from $50 at KeyBanc
KeyBanc analyst Andy Hargreaves lowered his price target for Criteo to $42 from $50 following quarterly results. The analyst reiterates an Overweight rating on the shares and recommends buying the stock as he continues to believe accelerating growth can drive improved investor sentiment through 2019.
09/07/18
GSCO
09/07/18
NO CHANGE
GSCO
Neutral
Criteo lost Facebook Marketing Partner status, says Goldman Sachs
Recent French press reports, which have been verified by the company, confirm that Facebook (FB) decertified Criteo as a Facebook Marketing Partner on July 1, meaning Criteo is no longer referenced as a Facebook preferred marketing partner and will not have access to beta testing new features, Goldman Sachs analyst Heath Terry told investors in a note sent before the open. While he expects the financial impact to be limited in the near-term, noting that Facebook only represented 4% of Criteo revenue ex-TAC in Q2, Terry sees this as a further sign of tightening standards among advertisers and publishers. He keeps a Neutral rating on Criteo shares and lowered his 2018-2020 revenue ex-TAC estimates by 2%, on average, to reflect potential pressure to net revenue from Facebook.
FB Facebook
$163.93

1.41 (0.87%)

09/04/18
MOFT
09/04/18
DOWNGRADE
MOFT
Neutral
Facebook downgraded to Neutral from Buy at MoffettNathanson
09/04/18
09/04/18
DOWNGRADE
Target $175

Neutral
Facebook downgraded to Neutral with $175 price target at MoffettNathanson
As previously reported, MoffettNathanson analyst Michael Nathanson downgraded Facebook to Neutral from Buy as he believes the shift in engagement and monetization from News Feed to Stories will be a headwind to revenue growth. He also expects 2019 operating income growth to slow down to a low teens percentage, which should limit further multiple expansion. The company is transitioning from a "frictionless model," in which both user-generated content and advertising were largely unsupervised by humans, to one with higher investments and security, Nathanson tells investors. Additionally, Facebook is increasingly under scrutiny from politicians and regulators globally, which should make it become more aggressive on spending to "show contrition," he contends. Nathanson cut his price target on Facebook shares to $175 from $200.
09/04/18
09/04/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Facebook (FB) downgraded to Neutral from Buy at MoffettNathanson with analyst Michael Nathanson saying he believes the shift in engagement and monetization from News Feed to Stories will be a headwind to revenue growth. 2. Verizon (VZ) downgraded to Equal Weight from Overweight at Barclays and to Neutral from Buy at MoffettNathanson. 3. Dollar Tree (DLTR) downgraded to Outperform from Top Pick at RBC Capital with analyst Scot Ciccarelli citing continued struggles at its Family Dollar business of 3 consecutive quarters of disappointing results, weighing on the company's profitability. 4. Seagate (STX) downgraded to Underperform from In Line at Evercore ISI with analyst C.J. Muse citing peaking margins and HDD secular headwinds. 5. Signet Jewelers (SIG) downgraded to Sell from Neutral at Citi with analyst Paul Lejuez saying while the company's Q2 sales were better than expected with overall comps of up 1.7%, the underlying fundamentals do not suggest that business is healthy. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

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CHCO

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$73.71

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UNCFF

UniCredit

$0.00

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TSLA

Tesla

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