Criteo S.A. (CRTO) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of Criteo S.A. (NASDAQ:CRTO) from a hold rating to a strong sell rating in a report published on Thursday.

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. “

Other research analysts have also issued research reports about the stock. Berenberg Bank reiterated a buy rating and set a $63.00 price objective on shares of Criteo in a research note on Friday, September 22nd. KeyCorp reiterated a buy rating and set a $62.00 price objective on shares of Criteo in a research note on Friday, September 15th. BMO Capital Markets reiterated a buy rating and set a $70.00 price objective on shares of Criteo in a research note on Wednesday, September 13th. Royal Bank Of Canada reiterated a buy rating and set a $60.00 price objective on shares of Criteo in a research note on Monday, July 31st. Finally, Deutsche Bank AG boosted their price objective on shares of Criteo from $64.00 to $65.00 and gave the stock a buy rating in a research note on Thursday, August 3rd. Two research analysts have rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $55.70.

Shares of Criteo (NASDAQ:CRTO) opened at 41.43 on Thursday. Criteo has a 12 month low of $35.51 and a 12 month high of $56.00. The company’s 50 day moving average is $43.66 and its 200 day moving average is $48.48. The company has a market cap of $2.55 billion, a P/E ratio of 39.05 and a beta of 2.66.

Criteo (NASDAQ:CRTO) last posted its quarterly earnings data on Wednesday, August 2nd. The information services provider reported $0.21 EPS for the quarter, topping the consensus estimate of $0.16 by $0.05. The firm had revenue of $220.00 million during the quarter, compared to analyst estimates of $212.55 million. Criteo had a net margin of 3.48% and a return on equity of 13.94%. Criteo’s revenue was up 32.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.33 EPS. On average, equities research analysts predict that Criteo will post $2.41 EPS for the current fiscal year.

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In other news, CFO Benoit Fouilland sold 12,500 shares of the stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $50.86, for a total value of $635,750.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director James Warner sold 1,250 shares of the stock in a transaction on Tuesday, October 17th. The stock was sold at an average price of $45.97, for a total transaction of $57,462.50. The disclosure for this sale can be found here. Insiders have sold a total of 214,000 shares of company stock worth $10,329,377 in the last 90 days. 5.60% of the stock is currently owned by company insiders.

Several large investors have recently added to or reduced their stakes in CRTO. Parametric Portfolio Associates LLC increased its stake in shares of Criteo by 34.6% in the first quarter. Parametric Portfolio Associates LLC now owns 74,008 shares of the information services provider’s stock worth $3,700,000 after acquiring an additional 19,037 shares during the period. Envestnet Asset Management Inc. increased its stake in shares of Criteo by 88.6% in the first quarter. Envestnet Asset Management Inc. now owns 4,689 shares of the information services provider’s stock worth $233,000 after acquiring an additional 2,203 shares during the period. Geode Capital Management LLC increased its stake in shares of Criteo by 17.9% in the first quarter. Geode Capital Management LLC now owns 32,248 shares of the information services provider’s stock worth $1,612,000 after acquiring an additional 4,888 shares during the period. Oppenheimer Asset Management Inc. acquired a new stake in shares of Criteo in the first quarter worth $230,000. Finally, Bank of America Corp DE increased its stake in shares of Criteo by 242.0% in the first quarter. Bank of America Corp DE now owns 218,235 shares of the information services provider’s stock worth $10,910,000 after acquiring an additional 154,429 shares during the period. Hedge funds and other institutional investors own 83.60% of the company’s stock.

About Criteo

Criteo SA is a France-based company specializing in digital performance marketing. Its solution consists of the Criteo Engine, the Company’s data assets, access to inventory, and its advertiser and publisher platforms. The Criteo Engine consists of various machine learning algorithms, such as prediction, recommendation, bidding and creative algorithms and the global hardware and software infrastructure.

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