Criteo (NASDAQ:CRTO) Hits New 12-Month Low – Here’s Why

Criteo S.A. (NASDAQ:CRTO)’s share price reached a new 52-week low on Thursday. The company traded as low as $14.00 and last traded at $15.0090, with a volume of 182 shares trading hands. The stock had previously closed at $14.89.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CRTO. DA Davidson reiterated a “buy” rating and set a $24.00 target price on shares of Criteo in a research report on Tuesday, July 7th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Criteo in a research report on Friday, July 17th. Morgan Stanley decreased their target price on shares of Criteo from $29.00 to $25.00 and set an “equal weight” rating on the stock in a report on Thursday, August 6th. Citigroup reaffirmed a “buy” rating on shares of Criteo in a report on Friday, August 14th. Finally, Zacks Research downgraded Criteo from a “hold” rating to a “strong sell” rating in a research report on Monday, August 24th. Six research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $22.65.

Criteo Trading Up 0.9%

The company has a market capitalization of $736.13 million, a P/E ratio of 7.53 and a beta of 0.29. The stock’s fifty day moving average is $16.84 and its 200 day moving average is $18.18.

Criteo (NASDAQ:CRTO) last posted its earnings results on Wednesday, August 5th. The information services provider reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.09. The company had revenue of $428.02 million for the quarter, compared to analysts’ expectations of $263.40 million. Criteo had a return on equity of 14.33% and a net margin of 5.60%. Criteo’s quarterly revenue was down 11.3% on a year-over-year basis. During the same period last year, the firm earned $0.92 earnings per share. On average, analysts expect that Criteo S.A. will post 2.58 EPS for the current fiscal year.

Insider Buying and Selling at Criteo

In other news, CEO Michael Komasinski sold 15,559 shares of the company’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $17.23, for a total transaction of $268,081.57. Following the transaction, the chief executive officer directly owned 345,547 shares of the company’s stock, valued at $5,953,774.81. This represents a 4.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Ryan Damon sold 6,178 shares of Criteo stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $17.23, for a total transaction of $106,446.94. Following the completion of the sale, the insider owned 167,765 shares of the company’s stock, valued at $2,890,590.95. This represents a 3.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 30,725 shares of company stock worth $529,527. 1.52% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. WealthCollab LLC increased its position in Criteo by 147.5% in the first quarter. WealthCollab LLC now owns 1,371 shares of the information services provider’s stock worth $25,000 after buying an additional 817 shares in the last quarter. Rockefeller Capital Management L.P. boosted its holdings in Criteo by 185.8% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,446 shares of the information services provider’s stock worth $30,000 after buying an additional 940 shares during the period. GAMMA Investing LLC raised its holdings in Criteo by 61.1% during the second quarter. GAMMA Investing LLC now owns 3,465 shares of the information services provider’s stock valued at $63,000 after acquiring an additional 1,314 shares during the period. Integrated Wealth Concepts LLC bought a new position in shares of Criteo in the second quarter worth about $36,000. Finally, Parallel Advisors LLC raised its stake in Criteo by 357.9% during the 1st quarter. Parallel Advisors LLC now owns 4,126 shares of the information services provider’s stock valued at $74,000 after purchasing an additional 3,225 shares during the period. Hedge funds and other institutional investors own 94.27% of the company’s stock.

Criteo Company Profile

Criteo SA is a global commerce media company headquartered in Paris, France. The company provides technology that helps advertisers, retailers and publishers connect with consumers and measure the impact of digital marketing campaigns across the commerce journey.

Criteo’s platform supports retail media and performance marketing activities, including sponsored product placements, display and video advertising, audience activation, customer acquisition and campaign measurement. Its solutions are designed to use commerce data and artificial intelligence to help brands reach relevant audiences, while enabling retailers and publishers to generate advertising revenue.

Founded in 2005 by Jean-Baptiste Rudelle, Franck Le Ouay and Romain Niccoli, Criteo serves clients across North America, Europe, Asia-Pacific and other international markets.