Criteo (NASDAQ:CRTO) Price Target Cut to $40.00 by Analysts 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 decreased by Wells Fargo & Company from $54.00 to $40.00 in a research report report published on Tuesday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the information services provider's stock.

Other equities analysts have also issued research reports about the stock. Benchmark cut their price objective on shares of Criteo from $46.00 to $42.00 and set a "buy" rating on the stock in a research report on Tuesday, July 22nd. Morgan Stanley decreased their price objective on shares of Criteo from $40.00 to $36.00 and set an "equal weight" rating for the company in a report on Monday, May 5th. DA Davidson cut their target price on Criteo from $57.00 to $42.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. Susquehanna lowered their price objective on Criteo from $50.00 to $38.00 and set a "neutral" rating on the stock in a report on Wednesday, April 30th. Finally, BMO Capital Markets reduced their target price on Criteo from $60.00 to $49.00 and set an "outperform" rating for the company in a report on Monday, May 5th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, Criteo presently has a consensus rating of "Moderate Buy" and a consensus target price of $42.50.

Criteo Trading Down 3.5%

NASDAQ:CRTO traded down $0.84 on Tuesday, hitting $23.50. 683,103 shares of the company's stock traded hands, compared to its average volume of 470,459. The firm has a 50-day moving average price of $24.40 and a 200-day moving average price of $31.44. The company has a market cap of $1.36 billion, a PE ratio of 9.83 and a beta of 0.43. Criteo has a 1 year low of $22.43 and a 1 year high of $49.93.

Criteo (NASDAQ:CRTO - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The information services provider reported $0.92 EPS for the quarter, beating the consensus estimate of $0.70 by $0.22. The business had revenue of $292.00 million for the quarter, compared to analysts' expectations of $274.62 million. Criteo had a net margin of 7.10% and a return on equity of 17.06%. Criteo's revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.08 EPS. On average, research analysts forecast that Criteo will post 3.09 EPS for the current fiscal year.

Insider Activity at Criteo

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

Institutional Investors Weigh In On Criteo

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vega Investment Solutions bought a new stake in shares of Criteo in the fourth quarter worth $41,000. Jones Financial Companies Lllp increased its stake in Criteo by 1,376.7% in the 1st quarter. Jones Financial Companies Lllp now owns 1,270 shares of the information services provider's stock valued at $45,000 after buying an additional 1,184 shares during the last quarter. Blue Trust Inc. lifted its position in Criteo by 81.2% during the 2nd quarter. Blue Trust Inc. now owns 2,878 shares of the information services provider's stock worth $69,000 after buying an additional 1,290 shares in the last quarter. TD Private Client Wealth LLC boosted its stake in shares of Criteo by 21.4% during the 1st quarter. TD Private Client Wealth LLC now owns 2,413 shares of the information services provider's stock worth $85,000 after buying an additional 426 shares during the last quarter. Finally, Wells Fargo & Company MN grew its holdings in shares of Criteo by 53.2% in the 4th quarter. Wells Fargo & Company MN now owns 4,192 shares of the information services provider's stock valued at $166,000 after acquiring an additional 1,455 shares in the last quarter. 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.