Criteo (NASDAQ:CRTO) Shares Gap Up – Here’s Why

Criteo S.A. (NASDAQ:CRTO)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $17.66, but opened at $18.46. Criteo shares last traded at $18.28, with a volume of 11,251 shares traded.

Analyst Ratings Changes

Several brokerages have recently weighed in on CRTO. Wall Street Zen downgraded shares of Criteo from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. DA Davidson restated a “buy” rating and issued a $24.00 price target on shares of Criteo in a research report on Tuesday, June 23rd. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $18.00 price objective (down from $34.00) on shares of Criteo in a research note on Wednesday, May 6th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Criteo in a research report on Monday, April 20th. Finally, Stifel Nicolaus lowered their target price on Criteo from $30.00 to $29.00 and set a “buy” rating on the stock in a research note on Monday, April 13th. Five analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $27.44.

Criteo Stock Performance

The stock’s fifty day moving average price is $17.72 and its 200-day moving average price is $18.58. The firm has a market cap of $916.63 million, a PE ratio of 8.53 and a beta of 0.32.

Criteo (NASDAQ:CRTO) last released its quarterly earnings data on Tuesday, March 31st. The information services provider reported $0.73 EPS for the quarter. Criteo had a net margin of 6.06% and a return on equity of 14.98%. The firm had revenue of $424.64 million for the quarter. Sell-side analysts forecast that Criteo S.A. will post 3.12 earnings per share for the current fiscal year.

Insider Activity at Criteo

In other news, CFO Sarah Js Glickman sold 2,465 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $17.06, for a total transaction of $42,052.90. Following the sale, the chief financial officer owned 431,879 shares of the company’s stock, valued at $7,367,855.74. The trade was a 0.57% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 1.52% of the stock is owned by company insiders.

Hedge Funds Weigh In On Criteo

Several hedge funds and other institutional investors have recently bought and sold shares of CRTO. Jones Financial Companies Lllp grew its holdings in Criteo by 1,376.7% in the first quarter. Jones Financial Companies Lllp now owns 1,270 shares of the information services provider’s stock valued at $45,000 after purchasing an additional 1,184 shares during the last quarter. Invesco Ltd. boosted its position in shares of Criteo by 7.2% in the 2nd quarter. Invesco Ltd. now owns 16,313 shares of the information services provider’s stock worth $391,000 after buying an additional 1,094 shares in the last quarter. Qube Research & Technologies Ltd grew its stake in Criteo by 145.0% in the 2nd quarter. Qube Research & Technologies Ltd now owns 432,881 shares of the information services provider’s stock valued at $10,372,000 after acquiring an additional 256,227 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in Criteo by 41.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,587 shares of the information services provider’s stock valued at $206,000 after acquiring an additional 2,524 shares during the last quarter. Finally, Alliancebernstein L.P. increased its holdings in Criteo by 1.9% during the 2nd quarter. Alliancebernstein L.P. now owns 4,411,988 shares of the information services provider’s stock valued at $105,711,000 after acquiring an additional 82,134 shares in the last quarter. 94.27% of the stock is owned by institutional investors and hedge funds.

About Criteo

Criteo is a global technology company specializing in digital performance advertising and commerce media solutions. The company provides a range of AI-driven ad products designed to help brands, retailers, and agencies deliver personalized promotional messages to consumers across web, mobile, and connected TV environments. By leveraging large-scale data analytics and machine learning algorithms, Criteo’s platform optimizes the timing, placement, and creative of ads to drive engagement and conversions.

At the core of Criteo’s offering is its dynamic retargeting solution, which enables advertisers to automatically generate and display personalized product recommendations based on user behavior.