Criteo (NASDAQ:CRTO) Given New $38.00 Price Target at DA Davidson

Key Points

• DA Davidson has reduced Criteo's price target to $38.00, down from $42.00, while maintaining a "buy" rating, indicating a potential upside of 56.17%.
• Several analysts, including Susquehanna and Wells Fargo, have also downgraded their price targets for Criteo, reflecting a broader trend of cautious sentiment on the stock.
• Criteo's stock performance has seen significant fluctuations, with shares recently trading at $24.33, and reported earnings per share of $0.92 for the last quarter, exceeding analyst estimates.

Criteo (NASDAQ:CRTO - Get Free Report) had its target price reduced by DA Davidson from $42.00 to $38.00 in a report issued on Thursday,Benzinga reports. The firm currently has a "buy" rating on the information services provider's stock. DA Davidson's target price points to a potential upside of 56.17% from the company's current price.

A number of other research analysts have also recently issued reports on CRTO. Susquehanna decreased their price objective on shares of Criteo from $50.00 to $38.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 30th. Wells Fargo & Company decreased their price objective on shares of Criteo from $54.00 to $40.00 and set an "overweight" rating on the stock in a research note on Tuesday. Stifel Nicolaus decreased their price objective on shares of Criteo from $42.00 to $41.00 and set a "buy" rating on the stock in a research note on Tuesday, July 22nd. JPMorgan Chase & Co. decreased their price objective on shares of Criteo from $39.00 to $27.00 and set a "neutral" rating on the stock in a research note on Monday, May 5th. Finally, BMO Capital Markets lifted their price objective on shares of Criteo from $49.00 to $51.00 and gave the company an "outperform" rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $42.50.

Criteo Stock Performance

Shares of NASDAQ CRTO traded up $1.36 during midday trading on Thursday, reaching $24.33. The company's stock had a trading volume of 1,163,557 shares, compared to its average volume of 452,102. Criteo has a fifty-two week low of $22.43 and a fifty-two week high of $49.93. The business's 50 day moving average price is $24.57 and its two-hundred day moving average price is $31.68. The company has a market cap of $1.41 billion, a P/E ratio of 9.89 and a beta of 0.48.

Criteo (NASDAQ:CRTO - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The information services provider reported $0.92 earnings per share for the quarter, beating analysts' consensus estimates of $0.70 by $0.22. Criteo had a net margin of 7.41% and a return on equity of 18.21%. The company had revenue of $292.00 million during the quarter, compared to the consensus estimate of $274.62 million. During the same period in the previous year, the business earned $1.08 earnings per share. The firm's quarterly revenue was up 2.5% on a year-over-year basis. Sell-side analysts forecast that Criteo will post 3.09 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Brian Gleason sold 2,842 shares of the company's stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $22.85, for a total transaction of $64,939.70. Following the transaction, the insider owned 152,122 shares in the company, valued at approximately $3,475,987.70. This represents a 1.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ryan Damon sold 2,132 shares of the company's stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $25.81, for a total transaction of $55,026.92. Following the transaction, the insider owned 132,002 shares in the company, valued at $3,406,971.62. This represents a 1.59% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 12,708 shares of company stock worth $320,444. Company insiders own 1.66% of the company's stock.

Hedge Funds Weigh In On Criteo

Several institutional investors have recently made changes to their positions in the stock. Senvest Management LLC raised its holdings in shares of Criteo by 25.7% in the 4th quarter. Senvest Management LLC now owns 3,639,479 shares of the information services provider's stock worth $143,978,000 after acquiring an additional 743,695 shares during the last quarter. Cadian Capital Management LP grew its position in shares of Criteo by 38.2% during the 4th quarter. Cadian Capital Management LP now owns 2,584,333 shares of the information services provider's stock valued at $102,236,000 after acquiring an additional 713,785 shares during the period. Schroder Investment Management Group boosted its holdings in Criteo by 4,200.9% in the 4th quarter. Schroder Investment Management Group now owns 572,790 shares of the information services provider's stock worth $22,493,000 after buying an additional 559,472 shares during the period. Alliancebernstein L.P. boosted its holdings in Criteo by 14.0% in the 1st quarter. Alliancebernstein L.P. now owns 4,329,854 shares of the information services provider's stock worth $153,320,000 after buying an additional 532,879 shares during the period. Finally, ANTIPODES PARTNERS Ltd boosted its stake in Criteo by 45.9% during the first quarter. ANTIPODES PARTNERS Ltd now owns 1,451,188 shares of the information services provider's stock valued at $51,391,000 after buying an additional 456,633 shares during the period. Institutional investors and hedge funds own 94.27% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.