 Good day, fellow investors. It's Sunday, so it's time again for a Sunday stock analysis. And Mike Smith gave a great comment. He said, okay, love your channel. Thanks, thanks, thanks. So he found one stock that looks too good to be true. The symbol is CRTO. It's growing revenues and earnings very consistently 50% a year. It has zero debt, over 500 million in cash, which is just shy of one-third of market cap. Price earnings growth ratio 0.30T, forward price earnings 12.6, price to free cash flow of 10. So no capital to grow, generating cash a lot. So that's a great comment. I have to say that's the comment I like, because it gives me some insight into what I have to research and why it is interesting. And so I said, okay, I'll do immediately preliminary research on the stock and that's what I'll share with you today. So all those ads that you see online when you're browsing, when you're online, so there is somebody that has an engine that provides you the correct ads. And if you want to make money on those ads by not owning Amazon, Facebook and Google, there are these companies that services other customers, which is called Crito. It's a French company that has an engine, some platforms and that optimizes ads. So let's look into what the company does, what are the price, the fundamentals and see whether it is a stock to watch or not. So they have product portfolio, client platforms, they have a network, they have an engine and they have a shop or graph, which is a very important tool to position right ads with the right customer. It's also one of the leading companies in the industry and industry pioneers. The company analyzes lots of data and tries to match the best ad to the customer in compliance with all the rules out there, which we'll discuss later. This shows how it works in practice. You search, I don't know, a bomber jacket and they show similar products to you in the ads. However, the advertising environment is a wild west and this makes also the stock in as a wild west. The company went public at 35, spiked to 15 early 2040, only to drop to below 30, spiked again to 50, dropped again, spiked again and lately it's down again. So the online advertisement is volatile as there have been various news from ad blockers, Apple's intelligent tracking prevention system that was supposed to hit the company because it blocks some cookies and that's what scares the market. And there are such news, a lot of uncertainties and that's why the stock keeps going up and down. So again, now we are in a position of big uncertainties with new regulation in the European Union and the Facebook scandal and that's why the stock is down again. However, we have to look short term, long term to see where there is opportunity. From a trend perspective, the online business has grown fast but is still expected to grow at double digit rates over the next five years. The company guided that it won't grow at the staggering rates that it grew in the past, but still they expect revenue growth between 3 and 8% in constant currency, which is not something the company's shareholders like as they have been used to much better growth numbers. Nevertheless, when a growth stock falls that much, it might present an opportunity because it starts to be value and quality. So you can see revenue slowing down in growth. However, what they did in the last seven years is staggering. The revenue slowdown is because the new implemented European general data protection regulation is putting pressure on the sector. Further, the company's customer acquisition growth has stalled a bit, but the new strategy that is being implemented hopes to improve that, especially in the second part of the year. So if there will be more growth, then the stock will spike again above 50. The positive here is that the client retention rate is still above 90% and very, very stable. So the company is developing a self-service platform for smaller customers and they are targeting medium and larger car customers with their new engines and services. They hope that they can offer to customers that don't have the capacity to build something like Amazon or Facebook or Google that are building a walled garden for their customers. So they're hoping that they can build the same for all the other customers and they are practically copying Amazon's strategy. If they manage to do that, if they manage to grow, which I think there is a big probability in the long term, just preliminary research, not saying anything, so just explaining the company to you, I will start watching the company, so in the long term, I will get a better idea if there will be still opportunities to invest or not. Nevertheless, the cash pile is approaching 500 million and on a direct question in the last conference call, the CEO said that they are exploring new markets, organic growth and mergers and acquisitions where he sees the cash as very helpful. The cash per share is something like $7, book value is $14, the stock is at $28, so for such a growth company it's not that bad actually. By removing the $7 of cash from the stock, we are at $20 for a company that has earnings per share of $1.45 and that has grown immensely over the last five, seven years. So crazy valuations for such a growth if there will be more growth in the future. And that's something we have to dig deeper in and I look forward to your comments, especially if you're a specialist in the marketing online advertisement, to see how the company is positioning itself and whether they will be able to continue to grow or at least remain profitable, which is again, not a bad investment. The return on investment capital has constantly been above 10% in the last four years. Operating cash flow is $286 million, giving a price to operating cash level 6.25. So to conclude, Wall Street, short term, short term, short term, they see a little bit of growth, the stock spikes, they see a little bit of slowdown, the stock crashes. That's how Wall Street works, especially with growth stocks. And that's something, if you are in the sector and you can take advantage of, don't get hooked on the growth because you see what happens if it just slows down. But when there is slows down, when the stock price falls, start looking at the value and the value in the growth the company offers. Thank you for watching, I hope you enjoyed this preliminary research, maybe perhaps it gave you a stock to watch. Looking forward to your comments and I'll see you in the next video.