Criteo (NASDAQ:CRTO) Sets New 12-Month Low - Here's What Happened

Key Points

• Criteo shares fell to a new 52-week low of $14.35 and last traded at $14.60, below both their 50-day and 200-day moving averages.
• Analyst sentiment is mixed, with six Buy, three Hold and three Sell ratings; the consensus is “Hold” with an average price target of $22.65. Huber Research downgraded the stock to Underweight, while Morgan Stanley lowered its target to $25.
• Criteo beat quarterly earnings expectations with $0.80 EPS versus $0.71 expected, but revenue fell 11.3% year over year to $428.02 million. Institutional investors own 94.27% of the company, while insiders sold about $529,527 in shares over the past 90 days, primarily to cover tax obligations.

Criteo S.A. (NASDAQ:CRTO - Get Free Report) shares reached a new 52-week low on Monday. The stock traded as low as $14.35 and last traded at $14.60, with a volume of 448637 shares traded. The stock had previously closed at $14.73.

Analysts Set New Price Targets

CRTO has been the topic of a number of recent research reports. Huber Research cut shares of Criteo from an "overweight" rating to an "underweight" rating in a report on Monday, August 24th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Criteo in a report on Friday, July 17th. Citigroup reissued a "buy" rating on shares of Criteo in a report on Friday, August 14th. Morgan Stanley cut their price target on Criteo from $29.00 to $25.00 and set an "equal weight" rating on the stock in a report on Thursday, August 6th. Finally, BMO Capital Markets set a $20.00 price objective on Criteo in a research note on Thursday, August 6th. Six investment analysts have rated the stock with a Buy rating, three have given a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $22.65.

Criteo Stock Performance

The stock has a market cap of $711.97 million, a price-to-earnings ratio of 7.32 and a beta of 0.29. The company's 50 day simple moving average is $17.82 and its 200 day simple moving average is $18.33.

Criteo (NASDAQ:CRTO - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The information services provider reported $0.80 earnings per share for the quarter, topping analysts' consensus estimates of $0.71 by $0.09. The company had revenue of $428.02 million during the quarter, compared to analyst estimates of $263.40 million. Criteo had a net margin of 5.60% and a return on equity of 14.33%. The business's revenue for the quarter was down 11.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.92 EPS. Sell-side analysts predict that Criteo S.A. will post 2.58 EPS for the current year.

Insiders Place Their Bets

In other Criteo news, insider Ryan Damon sold 6,178 shares of the stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $17.23, for a total transaction of $106,446.94. Following the completion of the transaction, the insider directly owned 167,765 shares of the company's stock, valued at approximately $2,890,590.95. This trade represents a 3.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 Criteo stock in a transaction on Friday, August 28th. The shares were sold at an average price of $17.28, for a total value of $28,615.68. Following the transaction, the chief executive officer owned 343,891 shares in the company, valued at approximately $5,942,436.48. This trade 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. Insiders sold 30,725 shares of company stock worth $529,527 over the last ninety days. Company insiders own 1.52% of the company's stock.

Institutional Investors Weigh In On Criteo

Several hedge funds and other institutional investors have recently bought and sold shares of the business. QRG Capital Management Inc. grew its stake in shares of Criteo by 15.8% in the 2nd quarter. QRG Capital Management Inc. now owns 54,023 shares of the information services provider's stock worth $988,000 after purchasing an additional 7,352 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new stake in Criteo during the second quarter valued at approximately $36,000. GAMMA Investing LLC lifted its stake in Criteo by 61.1% during the second 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 during the last quarter. Parallel Advisors LLC boosted its holdings in Criteo by 357.9% during the first quarter. Parallel Advisors LLC now owns 4,126 shares of the information services provider's stock worth $74,000 after buying an additional 3,225 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in Criteo by 4.6% during the first quarter. Janus Henderson Group PLC now owns 1,769,644 shares of the information services provider's stock worth $31,774,000 after buying an additional 77,145 shares in the last quarter. 94.27% of the stock is currently owned by institutional investors.

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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