Criteo S.A. (CRTO) Downgraded by Zacks Investment Research to “Hold”
Zacks Investment Research lowered shares of Criteo S.A. (NASDAQ:CRTO) from a strong-buy rating to a hold rating in a research note released 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. “
Several other research firms have also recently weighed in on CRTO. KeyCorp started coverage on Criteo in a research report on Monday, July 31st. They issued an overweight rating and a $62.00 price objective on the stock. BMO Capital Markets reaffirmed a buy rating and set a $70.00 price target on shares of Criteo in a research report on Wednesday, September 13th. Cowen and Company reaffirmed an outperform rating and set a $61.00 price target (up previously from $60.00) on shares of Criteo in a research report on Thursday, August 3rd. Deutsche Bank AG upped their price target on Criteo from $64.00 to $65.00 and gave the company a buy rating in a research report on Thursday, August 3rd. Finally, Berenberg Bank reaffirmed a buy rating and set a $63.00 price target on shares of Criteo in a research report on Friday, September 22nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the company’s stock. Criteo has a consensus rating of Buy and an average price target of $56.06.
Criteo (NASDAQ CRTO) traded up 1.345% during midday trading on Wednesday, reaching $44.095. The company had a trading volume of 453,689 shares. Criteo has a 12-month low of $32.83 and a 12-month high of $56.00.
Criteo (NASDAQ:CRTO) last posted its quarterly earnings data on Wednesday, August 2nd. The information services provider reported $0.21 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.05. Criteo had a return on equity of 13.94% and a net margin of 3.48%. The business had revenue of $220.00 million for the quarter, compared to analysts’ expectations of $212.55 million. During the same quarter in the previous year, the firm earned $0.33 earnings per share. The business’s revenue was up 32.5% on a year-over-year basis. Analysts expect that Criteo will post $2.43 EPS for the current fiscal year.
In other news, insider Jean-Baptiste Rudelle sold 36,168 shares of the stock in a transaction dated Thursday, July 20th. The stock was sold at an average price of $50.66, for a total transaction of $1,832,270.88. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director James Warner sold 1,250 shares of the 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 disclosure for this sale can be found here. Insiders sold a total of 368,980 shares of company stock worth $18,204,027 over the last 90 days. Corporate insiders own 5.60% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. Perpetual Ltd increased its position in shares of Criteo by 11.4% during the 2nd quarter. Perpetual Ltd now owns 143,073 shares of the information services provider’s stock valued at $7,018,000 after purchasing an additional 14,601 shares during the last quarter. Perigon Wealth Management LLC bought a new position in shares of Criteo during the 2nd quarter valued at about $137,000. Public Employees Retirement System of Ohio increased its position in shares of Criteo by 12.2% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 297,399 shares of the information services provider’s stock valued at $14,587,000 after purchasing an additional 32,367 shares during the last quarter. Verition Fund Management LLC bought a new position in shares of Criteo during the 2nd quarter valued at about $417,000. Finally, Cubist Systematic Strategies LLC bought a new position in shares of Criteo during the 2nd quarter valued at about $3,274,000. Hedge funds and other institutional investors own 85.05% of the company’s stock.
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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