Criteo (NASDAQ:CRTO) Shares Down 6.7% After Analyst Downgrade

Criteo S.A. (NASDAQ:CRTO)’s stock price dropped 6.7% on Monday after JPMorgan Chase & Co. lowered their price target on the stock from $39.00 to $27.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Criteo traded as low as $28.00 and last traded at $27.49. 122,037 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 434,366 shares. The stock had previously closed at $29.47.

A number of other research firms have also recently weighed in on CRTO. Benchmark reaffirmed a “buy” rating and set a $51.00 price target on shares of Criteo in a report on Tuesday, February 4th. BMO Capital Markets reduced their price target on Criteo from $60.00 to $49.00 and set an “outperform” rating for the company in a research report on Monday. Citigroup reissued an “underperform” rating on shares of Criteo in a research note on Friday, April 25th. DA Davidson lifted their price objective on shares of Criteo from $53.00 to $57.00 and gave the company a “buy” rating in a research note on Wednesday, February 5th. Finally, Morgan Stanley reduced 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. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $48.20.

Insider Buying and Selling

In other news, insider Brian Gleason sold 2,841 shares of the firm’s stock in a transaction on Monday, April 28th. The stock was sold at an average price of $33.89, for a total transaction of $96,281.49. Following the completion of the sale, the insider now directly owns 157,450 shares of the company’s stock, valued at $5,335,980.50. This trade represents a 1.77 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Megan Clarken sold 7,481 shares of the business’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $44.51, for a total value of $332,979.31. Following the sale, the chief executive officer now directly owns 502,052 shares in the company, valued at $22,346,334.52. This trade represents a 1.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 24,145 shares of company stock valued at $1,031,391 over the last three months. Company insiders own 1.71% of the company’s stock.

Hedge Funds Weigh In On Criteo

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Barclays PLC boosted its holdings in shares of Criteo by 40.6% in the third quarter. Barclays PLC now owns 6,186 shares of the information services provider’s stock worth $249,000 after buying an additional 1,787 shares during the period. Geode Capital Management LLC boosted its stake in Criteo by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 49,143 shares of the information services provider’s stock worth $1,978,000 after purchasing an additional 518 shares during the period. JPMorgan Chase & Co. grew its position in Criteo by 31.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 337,880 shares of the information services provider’s stock worth $13,596,000 after purchasing an additional 80,424 shares in the last quarter. Janney Montgomery Scott LLC acquired a new stake in Criteo during the 4th quarter valued at $510,000. Finally, Blue Trust Inc. lifted its holdings in shares of Criteo by 51.9% in the fourth quarter. Blue Trust Inc. now owns 5,605 shares of the information services provider’s stock valued at $226,000 after purchasing an additional 1,916 shares in the last quarter. Institutional investors and hedge funds own 94.27% of the company’s stock.

Criteo Stock Down 4.4 %

The firm has a market cap of $1.63 billion, a price-to-earnings ratio of 16.76 and a beta of 0.63. The company has a 50-day moving average price of $33.64 and a 200 day moving average price of $37.78.

Criteo (NASDAQ:CRTO) last announced its quarterly earnings data on Friday, May 2nd. The information services provider reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.33. The firm had revenue of $451.43 million during the quarter, compared to analyst estimates of $259.86 million. Criteo had a return on equity of 16.37% and a net margin of 5.08%. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period last year, the company posted $0.80 EPS. Equities analysts forecast that Criteo S.A. will post 3.09 EPS for the current year.

Criteo Company Profile

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.