Criteo (NASDAQ:CRTO) Trading Down 6.7% on Analyst Downgrade

Criteo S.A. (NASDAQ:CRTO) was down 6.7% during trading on Monday after DA Davidson lowered their price target on the stock from $57.00 to $42.00. DA Davidson currently has a buy rating on the stock. Criteo traded as low as $28.00 and last traded at $27.49. Approximately 122,037 shares traded hands during trading, a decline of 72% from the average daily volume of 434,366 shares. The stock had previously closed at $29.47.

CRTO has been the subject of several other research reports. Wells Fargo & Company lowered their price objective on Criteo from $68.00 to $66.00 and set an “overweight” rating for the company in a research note on Thursday, May 1st. Morgan Stanley dropped their price target on shares of Criteo from $40.00 to $36.00 and set an “equal weight” rating for the company in a research note on Monday. StockNews.com cut Criteo from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 4th. Stifel Nicolaus dropped their target price on shares of Criteo from $61.00 to $46.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. decreased their price target on Criteo from $39.00 to $27.00 and set a “neutral” rating for the company in a report on Monday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $46.70.

Insider Activity at Criteo

In other news, CEO Megan Clarken sold 7,481 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $44.51, for a total transaction of $332,979.31. Following the completion of the sale, the chief executive officer now owns 502,052 shares in the company, valued at $22,346,334.52. The trade was a 1.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Brian Gleason sold 2,841 shares of the stock in a transaction on Monday, April 28th. The stock was sold at an average price of $33.89, for a total value of $96,281.49. Following the completion of the transaction, the insider now owns 157,450 shares in the company, valued at approximately $5,335,980.50. This represents a 1.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,145 shares of company stock valued at $1,031,391 in the last three months. Corporate insiders own 1.71% of the company’s stock.

Institutional Investors Weigh In On Criteo

Several hedge funds and other institutional investors have recently made changes to their positions in CRTO. Waterfront Wealth Inc. increased its stake in Criteo by 0.7% in the 4th quarter. Waterfront Wealth Inc. now owns 49,161 shares of the information services provider’s stock valued at $1,945,000 after buying an additional 335 shares during the last quarter. TD Private Client Wealth LLC boosted its stake in shares of Criteo by 21.4% in the 1st quarter. TD Private Client Wealth LLC now owns 2,413 shares of the information services provider’s stock worth $85,000 after buying an additional 426 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Criteo by 1.1% in the third quarter. Geode Capital Management LLC now owns 49,143 shares of the information services provider’s stock valued at $1,978,000 after acquiring an additional 518 shares in the last quarter. Assetmark Inc. increased its position in shares of Criteo by 9.9% during the fourth quarter. Assetmark Inc. now owns 6,174 shares of the information services provider’s stock valued at $244,000 after acquiring an additional 558 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in Criteo by 17.5% during the fourth quarter. The Manufacturers Life Insurance Company now owns 6,520 shares of the information services provider’s stock worth $258,000 after acquiring an additional 971 shares during the period. 94.27% of the stock is owned by institutional investors.

Criteo Stock Down 1.6 %

The firm has a market cap of $1.60 billion, a PE ratio of 16.49 and a beta of 0.63. The company has a 50-day simple moving average of $33.43 and a two-hundred day simple moving average of $37.71.

Criteo (NASDAQ:CRTO) last posted its quarterly earnings results on Friday, May 2nd. The information services provider reported $1.10 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.33. The company had revenue of $451.43 million during the quarter, compared to analyst estimates of $259.86 million. Criteo had a net margin of 5.08% and a return on equity of 16.37%. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.80 earnings per share. As a group, equities analysts predict that Criteo S.A. will post 3.09 earnings per share for the current year.

About Criteo

Criteo SA, a technology company, provides marketing and monetization services on the open Internet in North and South America, Europe, the Middle East, Africa, and the Asia-Pacific. The company's Criteo Shopper Graph, which derives clients' proprietary commerce data, such as transaction activity on their digital properties.