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

Criteo S.A. (NASDAQ:CRTO)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $17.82, but opened at $18.47. Criteo shares last traded at $18.3050, with a volume of 38,686 shares traded.

Analyst Ratings Changes

A number of brokerages have issued reports on CRTO. Wedbush assumed coverage on Criteo in a research note on Thursday, July 16th. They issued an “outperform” rating and a $30.00 target price for the company. Citigroup reissued a “buy” rating on shares of Criteo in a research report on Friday. Benchmark dropped their price objective on shares of Criteo from $25.00 to $21.00 and set a “buy” rating for the company in a report on Thursday, August 6th. Morgan Stanley cut their price objective on shares of Criteo from $29.00 to $25.00 and set an “equal weight” rating for the company in a research report on Thursday, August 6th. Finally, BMO Capital Markets set a $20.00 target price on shares of Criteo in a report on Thursday, August 6th. Six equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $23.15.

Criteo Price Performance

The company has a market cap of $908.02 million, a PE ratio of 9.43 and a beta of 0.29. The company’s 50 day simple moving average is $19.71 and its two-hundred day simple moving average is $18.66.

Criteo (NASDAQ:CRTO) last issued its quarterly earnings data on Wednesday, August 5th. The information services provider reported $0.80 EPS for the quarter, topping the consensus estimate of $0.71 by $0.09. The firm had revenue of $428.02 million for the quarter, compared to analyst estimates of $263.40 million. Criteo had a net margin of 5.60% and a return on equity of 14.33%. The business’s revenue for the quarter was down 11.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.92 EPS. Sell-side analysts expect that Criteo S.A. will post 2.94 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Ryan Damon sold 6,178 shares of the business’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $17.23, for a total value of $106,446.94. Following the sale, the insider owned 167,765 shares in the company, valued at approximately $2,890,590.95. The trade was a 3.55% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Sarah Js Glickman sold 6,285 shares of the stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $17.23, for a total value of $108,290.55. Following the transaction, the chief financial officer directly owned 424,612 shares in the company, valued at approximately $7,316,064.76. The trade was a 1.46% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 30,487 shares of company stock worth $524,872 over the last ninety days. Corporate insiders own 1.52% of the company’s stock.

Institutional Trading of Criteo

A number of institutional investors and hedge funds have recently bought and sold shares of the business. WealthCollab LLC lifted its position in shares of Criteo by 147.5% during the first quarter. WealthCollab LLC now owns 1,371 shares of the information services provider’s stock worth $25,000 after purchasing an additional 817 shares in the last quarter. Rockefeller Capital Management L.P. increased its stake in Criteo by 185.8% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,446 shares of the information services provider’s stock worth $30,000 after buying an additional 940 shares during the period. Raymond James Financial Inc. purchased a new stake in Criteo during the 2nd quarter worth approximately $30,000. Jones Financial Companies Lllp grew its stake in shares of 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 worth $45,000 after acquiring an additional 1,184 shares in the last quarter. Finally, Parallel Advisors LLC grew its stake in shares of Criteo by 142.3% in the third quarter. Parallel Advisors LLC now owns 2,081 shares of the information services provider’s stock worth $47,000 after acquiring an additional 1,222 shares in the last quarter. 94.27% of the stock is currently owned by hedge funds and other institutional investors.

Criteo Company Profile

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.