Criteo S.A. (CRTO) Stock Rating Upgraded by Zacks Investment Research
Criteo S.A. (NASDAQ:CRTO) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday. The brokerage currently has a $50.00 price target on the information services provider’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 16.09% from the company’s current price.
According to Zacks, “Criteo SA is a global technology company that specializes in performance display advertising. The Company offers clients a range of solutions such as click per cost, online banner displays, user optimization, data security, and search management tools to control campaign costs. It serves companies in the online retail, classifieds, and travel segments. Criteo SA is headquartered in Paris, France. “
Several other research firms have also recently weighed in on CRTO. BidaskClub raised Criteo from a “sell” rating to a “hold” rating in a report on Wednesday, June 21st. Stifel Nicolaus set a $50.00 price target on Criteo and gave the stock a “hold” rating in a research note on Thursday, August 3rd. Morgan Stanley reaffirmed an “equal weight” rating and issued a $46.00 price objective (down previously from $50.00) on shares of Criteo in a report on Monday. JMP Securities assumed coverage on Criteo in a report on Monday. They issued an “outperform” rating and a $60.00 price objective for the company. Finally, Cowen and Company reissued an “outperform” rating and issued a $61.00 target price (up previously from $60.00) on shares of Criteo in a report on Thursday, August 3rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Criteo has an average rating of “Buy” and an average price target of $56.06.
Shares of Criteo (CRTO) remained flat at $43.07 during trading on Tuesday. 787,877 shares of the company’s stock were exchanged. Criteo has a 52-week low of $32.83 and a 52-week high of $56.00.
Criteo (NASDAQ:CRTO) last released its quarterly earnings data on Wednesday, August 2nd. The information services provider reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.05. The firm had revenue of $220.00 million during the quarter, compared to analysts’ expectations of $212.55 million. Criteo had a net margin of 3.48% and a return on equity of 13.94%. The firm’s quarterly revenue was up 32.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.33 earnings per share. Equities research analysts anticipate that Criteo will post $2.43 EPS for the current fiscal year.
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In other Criteo news, insider Jean-Baptiste Rudelle sold 9,129 shares of Criteo stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $51.62, for a total value of $471,238.98. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Benoit Fouilland sold 6,250 shares of Criteo stock in a transaction that occurred on Wednesday, July 12th. The stock was sold at an average price of $51.04, for a total value of $319,000.00. The disclosure for this sale can be found here. Insiders sold 368,980 shares of company stock worth $18,204,027 in the last three months. Insiders own 5.60% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in CRTO. Perigon Wealth Management LLC bought a new stake in shares of Criteo in the 2nd quarter worth about $137,000. Fifth Third Bancorp bought a new stake in Criteo during the first quarter worth approximately $176,000. Oppenheimer Asset Management Inc. bought a new stake in Criteo during the first quarter worth approximately $230,000. Envestnet Asset Management Inc. increased its stake in Criteo by 88.6% during the first quarter. Envestnet Asset Management Inc. now owns 4,689 shares of the information services provider’s stock worth $233,000 after acquiring an additional 2,203 shares during the last quarter. Finally, Pictet & Cie Europe SA increased its stake in Criteo by 23.5% during the second quarter. Pictet & Cie Europe SA now owns 5,460 shares of the information services provider’s stock worth $268,000 after acquiring an additional 1,040 shares during the last quarter. Institutional investors and hedge funds own 85.05% of the company’s stock.
Criteo SA is a France-based company specializing in digital performance marketing. Its solution consists of the Criteo Engine, the Company’s data assets, access to inventory, and its advertiser and publisher platforms. The Criteo Engine consists of various machine learning algorithms, such as prediction, recommendation, bidding and creative algorithms and the global hardware and software infrastructure.
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