Criteo (CRTO) Price Target Cut to $42.00

Criteo (NASDAQ:CRTO) had its price target cut by Pivotal Research from $45.00 to $42.00 in a research report report published on Friday. They currently have a buy rating on the information services provider’s stock.

CRTO has been the subject of several other research reports. DA Davidson initiated coverage on Criteo in a research report on Monday, October 8th. They issued a neutral rating and a $25.00 price objective for the company. Zacks Investment Research upgraded Criteo from a strong sell rating to a hold rating in a research report on Monday, September 24th. BidaskClub upgraded Criteo from a sell rating to a hold rating in a research report on Thursday, September 20th. Cowen reiterated a hold rating and issued a $28.00 price objective on shares of Criteo in a research report on Thursday, August 2nd. Finally, Citigroup lowered their price objective on Criteo from $38.00 to $32.00 and set a neutral rating for the company in a research report on Thursday, August 2nd. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and eight have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $37.06.

NASDAQ:CRTO traded up $0.70 during mid-day trading on Friday, reaching $22.33. The stock had a trading volume of 359,185 shares, compared to its average volume of 919,014. The company has a market capitalization of $1.52 billion, a price-to-earnings ratio of 13.70 and a beta of 1.65. Criteo has a one year low of $20.93 and a one year high of $47.57.

Criteo (NASDAQ:CRTO) last released its earnings results on Wednesday, August 1st. The information services provider reported $0.53 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.14. The company had revenue of $230.00 million during the quarter, compared to the consensus estimate of $229.33 million. Criteo had a return on equity of 14.05% and a net margin of 4.55%. Criteo’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.39 EPS. On average, research analysts anticipate that Criteo will post 1.45 EPS for the current fiscal year.

In other news, COO Mary Spilman sold 3,815 shares of the business’s stock in a transaction that occurred on Monday, July 30th. The stock was sold at an average price of $33.74, for a total transaction of $128,718.10. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 3.32% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp increased its stake in shares of Criteo by 1,231.7% during the second quarter. Bank of New York Mellon Corp now owns 1,907,183 shares of the information services provider’s stock valued at $62,652,000 after buying an additional 1,763,968 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in shares of Criteo by 19.7% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 395,000 shares of the information services provider’s stock valued at $12,976,000 after buying an additional 65,000 shares during the period. Sei Investments Co. purchased a new position in shares of Criteo during the second quarter valued at approximately $366,000. Price Capital Management Inc. purchased a new position in shares of Criteo during the second quarter valued at approximately $745,000. Finally, FMR LLC increased its stake in shares of Criteo by 81.3% during the second quarter. FMR LLC now owns 1,502,700 shares of the information services provider’s stock valued at $49,364,000 after buying an additional 673,700 shares during the period. 86.38% of the stock is currently owned by hedge funds and other institutional investors.

About Criteo

Criteo SA, a technology company, engages in digital performance marketing in France and internationally. The company's Criteo Shopper Graph, which collects clients' proprietary commerce data, such as transaction activity on their digital properties. Its Criteo Engine solutions include recommendation algorithms that create tailored advertisements to specific customer interest by determining the specific products and services to include in the advertisement; predictive bidding algorithms that predict the probability and nature of a user's engagement with a given advertisement; and bidding engine for executing campaigns based on objectives set by the clients.

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Analyst Recommendations for Criteo (NASDAQ:CRTO)

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