CRTO - Why Criteo Shares Rose 20% in July
Shares of Criteo (NASDAQ: CRTO) gained 20.2% in July, according to data from S&P Global Market Intelligence. The online advertising campaign specialist saw several sudden jumps and drastic drops last month, but it all added up to a solid 30-day gain.
Criteo started July with a bang. The company updated its second-quarter guidance based on stronger-than-expected results in Europe and the Americas, sending stock prices 17% higher on July 6. That jump faded out over the following week, but Criteo caught a second wind near the end of the month. The second-quarter report came in even stronger than the updated guidance had suggested, beating the new targets on both revenue after target acquisition costs and adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA). Criteo also left analyst estimates in the dust and set up bullish guidance targets for the third quarter.
Image source: Getty Images.