Criteo (NASDAQ:CRTO) Upgraded to "Hold" at Zacks Research

Key Points

• Zacks Research upgraded Criteo from “strong sell” to “hold,” while the broader analyst consensus remains “Hold” with a $22.65 price target.
• Criteo shares opened at $15.39, with a market capitalization of about $754 million; the stock has traded between $14.28 and $25.29 over the past year.
• The company beat quarterly earnings expectations with $0.80 EPS versus $0.71 expected, but revenue fell 11.3% year over year. Insiders have sold shares recently, while institutional investors own 94.27% of the stock.

Criteo (NASDAQ:CRTO - Get Free Report) was upgraded by equities researchers at Zacks Research from a "strong sell" rating to a "hold" rating in a report released on Monday, Zacks reports.

Several other equities research analysts have also recently issued reports on CRTO. Wedbush decreased their price target on shares of Criteo from $30.00 to $25.00 and set an "outperform" rating on the stock in a research note on Thursday, August 20th. Benchmark cut their price objective on shares of Criteo from $25.00 to $21.00 and set a "buy" rating for the company in a research report on Thursday, August 6th. Weiss Ratings reissued a "sell (d+)" rating on shares of Criteo in a research report on Friday, July 17th. Morgan Stanley reduced their price objective on shares of Criteo from $29.00 to $25.00 and set an "equal weight" rating on the stock in a research note on Thursday, August 6th. Finally, Huber Research lowered shares of Criteo from an "overweight" rating to an "underweight" rating in a research report on Monday, August 24th. Six equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $22.65.

Criteo Stock Up 1.2%

CRTO opened at $15.39 on Monday. The firm has a market cap of $754.11 million, a P/E ratio of 7.81 and a beta of 0.29. Criteo has a 52 week low of $14.28 and a 52 week high of $25.29. The business's fifty day simple moving average is $16.65 and its 200 day simple moving average is $18.12.

Criteo (NASDAQ:CRTO - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The information services provider reported $0.80 EPS for the quarter, topping analysts' consensus estimates of $0.71 by $0.09. Criteo had a return on equity of 14.33% and a net margin of 5.60%. The firm had revenue of $428.02 million during the quarter, compared to analysts' expectations of $263.40 million. During the same quarter last year, the business posted $0.92 EPS. The firm's quarterly revenue was down 11.3% compared to the same quarter last year. As a group, equities analysts expect that Criteo will post 2.58 EPS for the current fiscal year.

Insider Activity at Criteo

In other Criteo news, CFO Sarah Glickman sold 6,285 shares of Criteo stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $17.23, for a total value of $108,290.55. Following the transaction, the chief financial officer owned 424,612 shares in the company, valued at $7,316,064.76. This trade represents a 1.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Michael Komasinski sold 1,656 shares of the business's stock in a transaction on Friday, August 28th. The shares were sold at an average price of $17.28, for a total transaction of $28,615.68. Following the sale, the chief executive officer directly owned 343,891 shares of the company's stock, valued at $5,942,436.48. This represents a 0.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 30,725 shares of company stock worth $529,527. 1.52% of the stock is owned by company insiders.

Institutional Trading of Criteo

A number of institutional investors and hedge funds have recently made changes to their positions in CRTO. WealthCollab LLC raised its holdings in shares of Criteo by 147.5% in the 1st quarter. WealthCollab LLC now owns 1,371 shares of the information services provider's stock worth $25,000 after purchasing an additional 817 shares during the period. Rockefeller Capital Management L.P. lifted its stake in shares of Criteo by 185.8% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,446 shares of the information services provider's stock valued at $30,000 after purchasing an additional 940 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Criteo by 61.1% in the 2nd quarter. GAMMA Investing LLC now owns 3,465 shares of the information services provider's stock valued at $63,000 after purchasing an additional 1,314 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new stake in shares of Criteo during the 2nd quarter worth about $36,000. Finally, Parallel Advisors LLC grew its holdings in shares of Criteo by 357.9% during the 1st quarter. Parallel Advisors LLC now owns 4,126 shares of the information services provider's stock worth $74,000 after purchasing an additional 3,225 shares during the period. 94.27% of the stock is currently owned by institutional investors and hedge funds.

About Criteo

Criteo SA is a global commerce media company headquartered in Paris, France. The company provides technology that helps advertisers, retailers and publishers connect with consumers and measure the impact of digital marketing campaigns across the commerce journey.

Criteo's platform supports retail media and performance marketing activities, including sponsored product placements, display and video advertising, audience activation, customer acquisition and campaign measurement. Its solutions are designed to use commerce data and artificial intelligence to help brands reach relevant audiences, while enabling retailers and publishers to generate advertising revenue.

Founded in 2005 by Jean-Baptiste Rudelle, Franck Le Ouay and Romain Niccoli, Criteo serves clients across North America, Europe, Asia-Pacific and other international markets.

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