Criteo (NASDAQ:CRTO) Upgraded at Zacks Research

Criteo (NASDAQ:CRTO) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Monday, Zacks reports.

CRTO has been the subject of several other reports. BMO Capital Markets set a $20.00 price target on Criteo in a report on Thursday, August 6th. Huber Research lowered Criteo from an “overweight” rating to an “underweight” rating in a research report on Monday, August 24th. Wedbush reduced their price objective on Criteo from $30.00 to $25.00 and set an “outperform” rating on the stock in a research note on Thursday, August 20th. Citigroup restated a “buy” rating on shares of Criteo in a research note on Friday, August 14th. Finally, Sanford C. Bernstein downgraded Criteo from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $35.00 to $20.50 in a research report on Thursday, August 6th. Six analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $22.65.

Criteo Trading Up 1.2%

Shares of CRTO stock opened at $15.39 on Monday. The company’s fifty day simple moving average is $16.65 and its 200-day simple moving average is $18.12. Criteo has a 52 week low of $14.28 and a 52 week high of $25.29. The company has a market cap of $754.11 million, a PE ratio of 7.81 and a beta of 0.29.

Criteo (NASDAQ:CRTO) last posted its earnings results on Wednesday, August 5th. The information services provider reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.09. The business 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 quarterly revenue was down 11.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.92 EPS. Equities research analysts expect that Criteo will post 2.58 EPS for the current fiscal year.

Insider Activity

In other news, CFO Sarah Glickman sold 6,285 shares of Criteo stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $17.23, for a total transaction of $108,290.55. Following the sale, the chief financial officer owned 424,612 shares in the company, valued at $7,316,064.76. This trade represents a 1.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Michael Komasinski sold 1,656 shares of the business’s stock in a transaction on Friday, August 28th. The stock was sold at an average price of $17.28, for a total transaction of $28,615.68. Following the transaction, the chief executive officer directly owned 343,891 shares in the company, valued at approximately $5,942,436.48. The trade was a 0.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 30,725 shares of company stock worth $529,527 over the last 90 days. Company insiders own 1.52% of the company’s stock.

Institutional Investors Weigh In On Criteo

A number of large investors have recently added to or reduced their stakes in the company. WealthCollab LLC increased its stake in Criteo by 147.5% during the 1st quarter. WealthCollab LLC now owns 1,371 shares of the information services provider’s stock worth $25,000 after buying an additional 817 shares during the period. Rockefeller Capital Management L.P. lifted its holdings in Criteo by 185.8% in 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 in the last quarter. Integrated Wealth Concepts LLC acquired a new position in Criteo in the 2nd quarter worth $36,000. GAMMA Investing LLC boosted its position in Criteo by 61.1% in the 2nd quarter. GAMMA Investing LLC now owns 3,465 shares of the information services provider’s stock valued at $63,000 after buying an additional 1,314 shares during the last quarter. Finally, Parallel Advisors LLC boosted its position in Criteo by 357.9% in the 1st quarter. Parallel Advisors LLC now owns 4,126 shares of the information services provider’s stock valued at $74,000 after buying an additional 3,225 shares during the last quarter. 94.27% of the stock is owned by institutional investors and hedge funds.

About Criteo

Criteo SA is a global commerce media company headquartered in Paris, France. The company provides technology that helps advertisers, retailers and publishers connect with consumers and measure the impact of digital marketing campaigns across the commerce journey.

Criteo’s platform supports retail media and performance marketing activities, including sponsored product placements, display and video advertising, audience activation, customer acquisition and campaign measurement. Its solutions are designed to use commerce data and artificial intelligence to help brands reach relevant audiences, while enabling retailers and publishers to generate advertising revenue.

Founded in 2005 by Jean-Baptiste Rudelle, Franck Le Ouay and Romain Niccoli, Criteo serves clients across North America, Europe, Asia-Pacific and other international markets.