Criteo (NASDAQ:CRTO) Lifted to “Buy” at Zacks Investment Research
Criteo (NASDAQ:CRTO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday, Zacks.com reports. The firm currently has a $21.00 price objective on the information services provider’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 15.01% from the company’s previous close.
According to Zacks, “Criteo SA is a global technology company that specializes in performance display advertising. The Company offers clients a range of solutions such as click per cost, online banner displays, user optimization, data security, and search management tools to control campaign costs. It serves companies in the online retail, classifieds, and travel segments. Criteo SA is headquartered in Paris, France. “
CRTO has been the subject of several other reports. ValuEngine raised Criteo from a “strong sell” rating to a “sell” rating in a report on Friday, October 4th. BidaskClub lowered Criteo from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. Finally, Berenberg Bank reissued a “buy” rating and issued a $34.00 price objective on shares of Criteo in a report on Friday, September 6th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $25.15.
Criteo (NASDAQ:CRTO) last announced its earnings results on Wednesday, July 31st. The information services provider reported $0.30 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.07. Criteo had a return on equity of 10.73% and a net margin of 3.72%. The business had revenue of $224.00 million for the quarter, compared to analyst estimates of $222.59 million. During the same period in the previous year, the company earned $0.53 earnings per share. The company’s revenue for the quarter was down 2.6% compared to the same quarter last year. As a group, analysts expect that Criteo will post 1.74 EPS for the current year.
In related news, insider Dan Teodosiu sold 26,237 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $19.45, for a total value of $510,309.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last three months, insiders sold 26,914 shares of company stock valued at $522,700. 4.01% of the stock is owned by corporate insiders.
A number of hedge funds have recently modified their holdings of CRTO. DNB Asset Management AS boosted its stake in Criteo by 800.2% in the second quarter. DNB Asset Management AS now owns 2,042,979 shares of the information services provider’s stock valued at $35,119,000 after acquiring an additional 1,816,025 shares during the period. Pekin Hardy Strauss Inc. acquired a new position in Criteo in the second quarter valued at approximately $21,017,000. Morgan Stanley boosted its stake in Criteo by 53.4% in the second quarter. Morgan Stanley now owns 2,546,000 shares of the information services provider’s stock valued at $43,817,000 after acquiring an additional 886,050 shares during the period. Okumus Fund Management Ltd. acquired a new position in Criteo in the second quarter valued at approximately $8,644,000. Finally, Amundi Pioneer Asset Management Inc. boosted its stake in Criteo by 55.5% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 1,137,060 shares of the information services provider’s stock valued at $22,775,000 after acquiring an additional 405,600 shares during the period. Institutional investors own 79.62% of the company’s stock.
Criteo SA, a technology company, provides an advertising platform for the open Internet in France and internationally. The company's Criteo Shopper Graph, which collects clients' proprietary commerce data, such as transaction activity on their digital properties. Its Criteo AI Engine solutions include Lookalike finder algorithms; recommendation algorithms; predictive bidding algorithms; bidding engine that executes campaigns based on certain objectives set by its clients; dynamic creative optimization+, which assembles customized creative advertising content by optimizing each individual creative component in the advertisement; software systems and processes, which enable data synchronization, storage, and analysis of distributed computing infrastructure in various geographies; and experimentation platform, an offline/online platform to enhance the capabilities and effectiveness of prediction models.
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