Update shared on 14 Nov 2025
Analysts have modestly raised their price targets for Criteo, with increases ranging from $2 to $1 per share. They cite the company's solid third-quarter performance and continued progress in retail media, despite a lighter Q4 outlook.
Analyst Commentary
Recent research notes offer a mix of optimism and caution around Criteo’s outlook following its third-quarter results and updated guidance.
Bullish Takeaways- Bullish analysts highlight Criteo’s solid third-quarter results, noting that both net revenue and EBITDA exceeded expectations.
- There is continued confidence in the company’s execution in retail media, which remains a key growth driver.
- Higher price targets reflect a belief in Criteo’s long-term revenue trajectory, with consideration for management’s view that current client ramp-up issues do not affect the 2026 run-rate.
- Some see sector trends, such as more take-private transactions in ad-tech, as potentially favorable for Criteo in terms of strategic positioning and valuation.
- Bearish analysts point to lighter-than-expected fourth-quarter guidance, which raises concerns about near-term growth momentum.
- The slower ramp-up of new retail media clients in Q4 is seen as a headwind, contributing to softer retail media performance in the immediate term.
- Despite recent price target raises, at least one major bank maintains a Neutral rating. This is attributed to the need for sustained execution to support further upside.
What's in the News
- Xnurta has integrated the Criteo Retail Media API, allowing advertisers to manage and optimize campaigns across Criteo’s 225 retail networks within one platform. The integration offers advanced reporting, bulk management, and automated optimizations. This feature is currently in closed beta. (Key Developments)
- Criteo and DoorDash have launched a multi-year partnership to scale advertising within DoorDash’s marketplace. This collaboration enables brands and agencies to connect with consumers through a variety of ad formats and off-site channels. (Key Developments)
- Criteo has been named Google’s first onsite retail media partner. The company is rolling out a new integration through Google Search Ads 360, providing retailers with greater access to ad budgets and unified measurement tools. (Key Developments)
- During its third quarter 2025 earnings call, Criteo reiterated its focus on organic growth and announced plans to pursue value-enhancing acquisitions. (Key Developments)
- Between July and September 2025, Criteo completed a buyback of 449,239 shares, representing 0.86%, for $10.54 million as part of its ongoing capital return program. (Key Developments)
Valuation Changes
- Fair Value Estimate remains unchanged at $35.92 per share.
- Discount Rate has risen slightly, from 7.23% to 7.34%.
- Revenue Growth projections have improved, with the decline moderating from -18.73% to -13.16%.
- Net Profit Margin has fallen from 13.97% to 11.86%.
- Future Price-to-Earnings (P/E) ratio has declined significantly, moving from 19.92x to 13.15x.
Disclaimer
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