Wells Fargo & Company Begins Coverage on Criteo (NASDAQ:CRTO)

Wells Fargo & Company assumed coverage on shares of Criteo (NASDAQ:CRTO) in a research note released on Monday, Marketbeat.com reports. The firm issued an overweight rating and a $70.00 price objective on the information services provider’s stock.

Several other equities analysts have also recently commented on the stock. JPMorgan Chase & Co. boosted their target price on shares of Criteo from $40.00 to $50.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. DA Davidson upgraded Criteo from a “neutral” rating to a “buy” rating and upped their target price for the stock from $43.00 to $58.00 in a research note on Tuesday, August 6th. Macquarie raised their target price on Criteo from $45.00 to $65.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. BMO Capital Markets upped their price objective on Criteo from $45.00 to $55.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Finally, Morgan Stanley raised their price objective on Criteo from $35.00 to $39.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 23rd. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $51.22.

Criteo Price Performance

Shares of NASDAQ CRTO opened at $33.68 on Monday. The business has a fifty day moving average price of $42.60 and a two-hundred day moving average price of $40.71. The stock has a market capitalization of $1.89 billion, a PE ratio of 22.91 and a beta of 0.99. Criteo has a fifty-two week low of $22.10 and a fifty-two week high of $49.93.

Criteo (NASDAQ:CRTO) last posted its quarterly earnings results on Thursday, August 1st. The information services provider reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.31. The business had revenue of $471.31 million during the quarter, compared to the consensus estimate of $263.64 million. Criteo had a return on equity of 15.64% and a net margin of 4.54%. Criteo’s revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.12 earnings per share. On average, equities analysts expect that Criteo will post 2.8 EPS for the current year.

Insider Buying and Selling at Criteo

In other news, insider Brian Gleason sold 2,841 shares of the business’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $41.10, for a total transaction of $116,765.10. Following the sale, the insider now directly owns 146,470 shares in the company, valued at approximately $6,019,917. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CFO Sarah Js Glickman sold 5,442 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $40.60, for a total transaction of $220,945.20. Following the completion of the transaction, the chief financial officer now directly owns 313,398 shares of the company’s stock, valued at $12,723,958.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Brian Gleason sold 2,841 shares of the company’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $41.10, for a total value of $116,765.10. Following the completion of the sale, the insider now owns 146,470 shares in the company, valued at $6,019,917. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.71% of the company’s stock.

Hedge Funds Weigh In On Criteo

Hedge funds have recently made changes to their positions in the stock. QRG Capital Management Inc. raised its holdings in Criteo by 3.5% during the 3rd quarter. QRG Capital Management Inc. now owns 15,518 shares of the information services provider’s stock worth $624,000 after purchasing an additional 518 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in shares of Criteo by 518.9% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 81,001 shares of the information services provider’s stock valued at $3,259,000 after purchasing an additional 67,913 shares during the last quarter. VELA Investment Management LLC increased its position in shares of Criteo by 15.3% during the third quarter. VELA Investment Management LLC now owns 111,624 shares of the information services provider’s stock worth $4,492,000 after buying an additional 14,779 shares during the period. Farther Finance Advisors LLC bought a new position in Criteo during the third quarter worth $50,000. Finally, Congress Asset Management Co. bought a new position in Criteo during the third quarter worth $48,653,000. 94.27% of the stock is currently owned by institutional investors.

About Criteo

Criteo SA, a technology company, provides marketing and monetization services on the open Internet in North and South America, Europe, the Middle East, Africa, and the Asia-Pacific. The company's Criteo Shopper Graph, which derives clients' proprietary commerce data, such as transaction activity on their digital properties.