Criteo (NASDAQ:CRTO) Downgraded by Zacks Investment Research to Hold

Criteo (NASDAQ:CRTO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Thursday, Zacks.com reports.

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. “

A number of other research firms have also weighed in on CRTO. ValuEngine upgraded shares of Criteo from a “strong sell” rating to a “sell” rating in a research note on Friday, October 4th. Berenberg Bank reiterated a “buy” rating and issued a $34.00 price objective on shares of Criteo in a research note on Friday, September 6th. Finally, BidaskClub lowered shares of Criteo from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $25.15.

Shares of NASDAQ CRTO traded up $0.72 during midday trading on Thursday, reaching $18.86. The company had a trading volume of 110,620 shares, compared to its average volume of 498,838. The business’s 50-day simple moving average is $18.87 and its 200 day simple moving average is $19.19. The stock has a market cap of $1.20 billion, a P/E ratio of 11.50, a P/E/G ratio of 2.14 and a beta of 0.74. Criteo has a 1 year low of $16.46 and a 1 year high of $30.85.

Criteo (NASDAQ:CRTO) last posted its quarterly earnings results on Wednesday, July 31st. The information services provider reported $0.30 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.07. The business had revenue of $224.00 million during the quarter, compared to analysts’ expectations of $222.59 million. Criteo had a net margin of 3.72% and a return on equity of 10.73%. The business’s quarterly revenue was down 2.6% on a year-over-year basis. During the same quarter last year, the company posted $0.53 earnings per share. Equities analysts expect that Criteo will post 1.74 EPS for the current year.

In other news, insider Dan Teodosiu sold 26,237 shares of the stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $19.45, for a total value of $510,309.65. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold 26,914 shares of company stock worth $522,700 in the last quarter. Company insiders own 4.01% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Aperio Group LLC acquired a new stake in Criteo during the second quarter valued at $34,000. First Mercantile Trust Co. grew its position in Criteo by 23.7% during the second quarter. First Mercantile Trust Co. now owns 7,295 shares of the information services provider’s stock valued at $126,000 after buying an additional 1,400 shares during the period. Oppenheimer Asset Management Inc. grew its position in Criteo by 21.7% during the second quarter. Oppenheimer Asset Management Inc. now owns 8,612 shares of the information services provider’s stock valued at $148,000 after buying an additional 1,534 shares during the period. Tower Research Capital LLC TRC grew its position in Criteo by 966.7% during the second quarter. Tower Research Capital LLC TRC now owns 9,099 shares of the information services provider’s stock valued at $157,000 after buying an additional 8,246 shares during the period. Finally, Xact Kapitalforvaltning AB acquired a new stake in Criteo during the second quarter valued at $174,000. Hedge funds and other institutional investors own 79.62% of the company’s stock.

Criteo Company Profile

Criteo SA, a technology company, provides an advertising platform for the open Internet 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 AI Engine solutions include Lookalike finder algorithms; recommendation algorithms; predictive bidding algorithms; bidding engine that executes campaigns based on certain objectives set by its clients; dynamic creative optimization+, which assembles customized creative advertising content by optimizing each individual creative component in the advertisement; software systems and processes, which enable data synchronization, storage, and analysis of distributed computing infrastructure in various geographies; and experimentation platform, an offline/online platform to enhance the capabilities and effectiveness of prediction models.

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