Criteo (NASDAQ:CRTO) Given New $40.00 Price Target at Wells Fargo & Company

Key Points

• Wells Fargo & Company has lowered its price target for Criteo (NASDAQ: CRTO) from $54.00 to $40.00, maintaining an "overweight" rating.
• Other analysts have also revised their price targets for Criteo, with JPMorgan Chase lowering it from $39.00 to $27.00, indicating a trend of decreasing expectations for the stock.
• Criteo's latest quarterly earnings showed a profit of $1.10 per share, exceeding analyst estimates, with revenue increasing by 3.9% year-over-year.

Criteo (NASDAQ:CRTO - Free Report) had its price objective lowered by Wells Fargo & Company from $54.00 to $40.00 in a research report sent to investors on Tuesday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the information services provider's stock.

Several other equities analysts have also commented on CRTO. BMO Capital Markets cut their price target on Criteo from $60.00 to $49.00 and set an "outperform" rating on the stock in a research note on Monday, May 5th. Morgan Stanley cut their price target on Criteo from $40.00 to $36.00 and set an "equal weight" rating on the stock in a research note on Monday, May 5th. Benchmark cut their target price on Criteo from $46.00 to $42.00 and set a "buy" rating on the stock in a research note on Tuesday, July 22nd. Stifel Nicolaus cut their target price on Criteo from $42.00 to $41.00 and set a "buy" rating on the stock in a research note on Tuesday, July 22nd. Finally, DA Davidson cut their target price on Criteo from $57.00 to $42.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $42.70.

Criteo Stock Performance

CRTO stock traded up $0.16 during midday trading on Tuesday, reaching $22.97. The company's stock had a trading volume of 1,085,140 shares, compared to its average volume of 386,725. The stock has a fifty day simple moving average of $24.57 and a two-hundred day simple moving average of $31.68. Criteo has a 1 year low of $22.43 and a 1 year high of $49.93. The firm has a market capitalization of $1.33 billion, a price-to-earnings ratio of 9.34 and a beta of 0.48.

Criteo (NASDAQ:CRTO - Get Free Report) last announced its quarterly earnings results on Friday, May 2nd. The information services provider reported $1.10 EPS for the quarter, beating the consensus estimate of $0.77 by $0.33. The firm had revenue of $451.43 million for the quarter, compared to analyst estimates of $259.86 million. Criteo had a return on equity of 18.21% and a net margin of 7.41%. The business's revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.80 earnings per share. As a group, analysts forecast that Criteo will post 3.09 EPS for the current fiscal year.

Insider Activity

In other news, insider Ryan Damon sold 1,263 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $26.12, for a total value of $32,989.56. Following the completion of the sale, the insider directly owned 130,739 shares in the company, valued at $3,414,902.68. The trade was a 0.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Brian Gleason sold 2,842 shares of the business's stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $22.85, for a total value of $64,939.70. Following the completion of the sale, the insider owned 152,122 shares of the company's stock, valued at $3,475,987.70. This trade represents a 1.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 12,708 shares of company stock worth $320,444 over the last three months. 1.66% of the stock is currently owned by corporate insiders.

Institutional Trading of Criteo

Institutional investors and hedge funds have recently made changes to their positions in the business. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Criteo in the first quarter valued at approximately $524,000. The Manufacturers Life Insurance Company increased its position in shares of Criteo by 17.5% during the fourth quarter. The Manufacturers Life Insurance Company now owns 6,520 shares of the information services provider's stock worth $258,000 after purchasing an additional 971 shares in the last quarter. Envestnet Asset Management Inc. increased its position in shares of Criteo by 10.1% during the first quarter. Envestnet Asset Management Inc. now owns 102,453 shares of the information services provider's stock worth $3,628,000 after purchasing an additional 9,382 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of Criteo by 53.2% during the fourth quarter. Wells Fargo & Company MN now owns 4,192 shares of the information services provider's stock worth $166,000 after purchasing an additional 1,455 shares in the last quarter. Finally, Barclays PLC increased its position in shares of Criteo by 81.8% during the fourth quarter. Barclays PLC now owns 11,247 shares of the information services provider's stock worth $445,000 after purchasing an additional 5,061 shares in the last quarter. 94.27% of the stock is currently owned by hedge funds and other institutional investors.

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.