What happened Shares of marketing and advertising platform technology company Criteo (NASDAQ: CRTO) soared 21% today after yesterday's earnings report persuaded several analysts to upgrade the company today. Criteo reported earnings yesterday that marked a sharp 74% drop in net income from the year-ago quarter, but only a 10% drop in revenue. More importantly, the company said its net cash position rose 53% in spite of the impacts to the business from the COVID-19 pandemic, and several analysts took notice. So what After Criteo reported its second-quarter results, it warned that the "pace of recovery may be much slower than anticipated," and that it may not be until 2021 until it sees a full recovery. But analysts are seeing progress and a strong balance sheet and upgrading the stock today. Image source: Getty Images. Today BMO Capital upgraded Criteo to outperform, Rosenblatt moved the stock to a buy rating from neutral, and JP Morgan (NYSE: JPM) raised its price target. Now what BMO Capital analyst Daniel Salmon was especially bullish on the company's quarterly report. He moved Criteo to a rating of outperform today with a price target of $25, representing a 79% upside to Wednesday's closing price. The company said retail media grew almost 60% versus the previous year period. Salmon also highlighted the company's collaboration with The Trade Desk (NASDAQ: TTD) on an an upgraded alternative to third-party cookies. In a statement, Criteo said "two of the largest demand side advertising platforms are working together to help drive the future of consumer identity and privacy on the open internet." Investors in the stock are cheering the news today, and the progress that Criteo has made by continuing to move shares up further for a monthly gain of over 40%. 10 stocks we like better than CriteoWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Criteo wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of October 20, 2020 Generating a disclosure failed. 500 Server Error: Internal Server Error for url: https://www.fool.com/a/disclosure?uids=65863185&username...Source