Zacks Investment Research Downgrades Criteo S.A. (CRTO) to Hold
Criteo S.A. (NASDAQ:CRTO) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued on Wednesday.
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. “
Other research analysts also recently issued research reports about the stock. BMO Capital Markets reaffirmed a “buy” rating and issued a $70.00 target price on shares of Criteo in a research report on Wednesday, September 13th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $60.00 target price on shares of Criteo in a research report on Monday, July 31st. Cowen and Company reaffirmed an “outperform” rating and issued a $60.00 target price on shares of Criteo in a research report on Thursday, June 22nd. KeyCorp started coverage on shares of Criteo in a research report on Monday, July 31st. They issued an “overweight” rating and a $62.00 target price for the company. Finally, BidaskClub downgraded shares of Criteo from a “hold” rating to a “sell” rating in a research report on Tuesday, June 13th. One analyst has rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $56.06.
Shares of Criteo (CRTO) traded up 1.02% during midday trading on Wednesday, reaching $43.51. 768,180 shares of the company were exchanged. Criteo has a 52-week low of $32.83 and a 52-week high of $56.00.
Criteo (NASDAQ:CRTO) last issued its quarterly earnings data on Wednesday, August 2nd. The information services provider reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.05. Criteo had a net margin of 3.48% and a return on equity of 13.94%. The business had revenue of $220.00 million for the quarter, compared to analyst estimates of $212.55 million. During the same period last year, the business posted $0.33 earnings per share. The firm’s quarterly revenue was up 32.5% on a year-over-year basis. On average, analysts expect that Criteo will post $2.43 EPS for the current fiscal year.
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In other news, Director James Warner sold 1,250 shares of Criteo stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $42.21, for a total value of $52,762.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Eric Eichmann sold 20,000 shares of Criteo stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $49.04, for a total transaction of $980,800.00. The disclosure for this sale can be found here. In the last three months, insiders sold 368,980 shares of company stock valued at $18,204,027. Insiders own 5.60% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in CRTO. Westend Capital Management LLC bought a new stake in shares of Criteo during the 1st quarter worth about $111,000. Perigon Wealth Management LLC bought a new stake in shares of Criteo during the 2nd quarter worth about $137,000. Fifth Third Bancorp bought a new stake in shares of Criteo during the 1st quarter worth about $176,000. Livingston Group Asset Management CO operating as Southport Capital Management bought a new stake in shares of Criteo during the 2nd quarter worth about $179,000. Finally, Hussman Strategic Advisors Inc. bought a new stake in shares of Criteo during the 1st quarter worth about $200,000. 85.05% of the stock is owned by institutional investors.
Criteo Company Profile
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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