Criteo (NASDAQ:CRTO) Rating Lowered to Hold at Zacks Investment Research

Criteo (NASDAQ:CRTO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday, Zacks.com reports.

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. “

A number of other research firms have also recently issued reports on CRTO. Macquarie initiated coverage on Tullow Oil in a report on Wednesday, May 1st. They set a “neutral” rating for the company. BMO Capital Markets restated a “hold” rating and issued a $45.00 price objective on shares of SAP in a report on Wednesday, May 1st. SunTrust Banks raised their price objective on HubSpot to $205.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. BidaskClub cut Amyris from a “hold” rating to a “sell” rating in a report on Thursday, June 27th. Finally, ValuEngine cut W&T Offshore from a “hold” rating to a “sell” rating in a report on Friday, April 26th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company. Criteo has a consensus rating of “Hold” and a consensus target price of $28.53.

CRTO stock traded down $0.01 during trading hours on Wednesday, reaching $17.79. 379,200 shares of the stock were exchanged, compared to its average volume of 565,010. The firm’s 50-day simple moving average is $18.22. The company has a market cap of $1.18 billion, a P/E ratio of 10.85, a price-to-earnings-growth ratio of 2.14 and a beta of 0.91. Criteo has a 12 month low of $16.46 and a 12 month high of $36.66.

Criteo (NASDAQ:CRTO) last released its earnings results on Tuesday, April 30th. The information services provider reported $0.34 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.13. The firm had revenue of $235.69 million during the quarter, compared to analysts’ expectations of $234.24 million. Criteo had a return on equity of 10.75% and a net margin of 3.83%. The company’s revenue was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.60 EPS. On average, equities research analysts predict that Criteo will post 1.66 earnings per share for the current year.

In other news, COO Mary Spilman sold 1,567 shares of the firm’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $17.05, for a total value of $26,717.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.01% of the stock is owned by company insiders.

A number of large investors have recently modified their holdings of CRTO. DNB Asset Management AS lifted its stake in Criteo by 800.2% in the 2nd quarter. DNB Asset Management AS now owns 2,042,979 shares of the information services provider’s stock valued at $35,119,000 after purchasing an additional 1,816,025 shares during the last quarter. Acadian Asset Management LLC lifted its stake in Criteo by 75.0% in the 1st quarter. Acadian Asset Management LLC now owns 1,928,309 shares of the information services provider’s stock valued at $38,629,000 after purchasing an additional 826,240 shares during the last quarter. Amundi Pioneer Asset Management Inc. lifted its stake in Criteo by 55.5% in the 1st 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 purchasing an additional 405,600 shares during the last quarter. FMR LLC lifted its stake in Criteo by 89.7% in the 1st quarter. FMR LLC now owns 823,009 shares of the information services provider’s stock valued at $16,485,000 after purchasing an additional 389,100 shares during the last quarter. Finally, Marshall Wace LLP lifted its stake in Criteo by 220.7% in the 1st quarter. Marshall Wace LLP now owns 256,757 shares of the information services provider’s stock valued at $5,142,000 after purchasing an additional 176,688 shares during the last quarter. Institutional investors and hedge funds own 83.34% of the company’s stock.

About Criteo

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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