Criteo S.A. (CRTO) Downgraded by Cowen and Company to Market Perform

Cowen and Company cut shares of Criteo S.A. (NASDAQ:CRTO) from an outperform rating to a market perform rating in a research note published on Thursday.

A number of other brokerages have also issued reports on CRTO. KeyCorp initiated coverage on shares of Criteo in a report on Monday, July 31st. They issued an overweight rating and a $62.00 price objective for the company. BMO Capital Markets reiterated a buy rating and issued a $70.00 price objective on shares of Criteo in a report on Wednesday, September 13th. Jefferies Group LLC lowered shares of Criteo from a buy rating to a hold rating in a report on Thursday. Zacks Investment Research downgraded shares of Criteo from a hold rating to a sell rating in a research report on Thursday, October 19th. Finally, Macquarie initiated coverage on shares of Criteo in a research report on Thursday, October 12th. They set a neutral rating and a $51.00 target price for the company. Two analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company’s stock. Criteo currently has an average rating of Hold and a consensus price target of $54.32.

Shares of Criteo (CRTO) traded up $0.78 during midday trading on Thursday, reaching $37.67. 1,250,639 shares of the company were exchanged, compared to its average volume of 984,327. The company has a market cap of $2,294.22, a price-to-earnings ratio of 24.95, a PEG ratio of 1.10 and a beta of 2.64. Criteo has a 1-year low of $36.63 and a 1-year high of $56.00.

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In other news, insider Dan Teodosiu sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $50.10, for a total transaction of $75,150.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jean-Baptiste Rudelle sold 11,977 shares of the firm’s stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $41.72, for a total transaction of $499,680.44. The disclosure for this sale can be found here. Insiders have sold a total of 219,075 shares of company stock valued at $10,426,240 in the last three months. Insiders own 5.60% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. BNP Paribas Arbitrage SA grew its position in shares of Criteo by 53.4% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 15,035 shares of the information services provider’s stock worth $737,000 after buying an additional 5,233 shares during the period. Todd Asset Management LLC grew its position in shares of Criteo by 29.7% during the 2nd quarter. Todd Asset Management LLC now owns 163,861 shares of the information services provider’s stock worth $8,038,000 after buying an additional 37,550 shares during the period. Edmond DE Rothschild Holding S.A. grew its position in shares of Criteo by 24.2% during the 2nd quarter. Edmond DE Rothschild Holding S.A. now owns 308,873 shares of the information services provider’s stock worth $15,150,000 after buying an additional 60,260 shares during the period. Geode Capital Management LLC grew its position in shares of Criteo by 17.9% during the 1st quarter. Geode Capital Management LLC now owns 32,248 shares of the information services provider’s stock worth $1,612,000 after buying an additional 4,888 shares during the period. Finally, Letko Brosseau & Associates Inc. acquired a new stake in shares of Criteo during the 2nd quarter worth approximately $17,235,000. 84.31% of the stock is owned by institutional investors.

Criteo Company Profile

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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