Criteo (NASDAQ:CRTO) Stock Gets Price Target Cut from Morgan Stanley

Criteo (NASDAQ:CRTO) had its price target cut by Morgan Stanley from $25.00 to $20.00 in a research report sent to investors on Tuesday,Benzinga reports. They currently have an equal weight rating on the information services provider’s stock.

Other analysts have also recently issued research reports about the company. Huber Research cut Criteo from an “overweight” rating to an “underweight” rating in a research report on Monday, August 24th. Wells Fargo & Company cut their price objective on Criteo from $15.00 to $14.00 and set an “equal weight” rating on the stock in a report on Thursday, November 5th. Sanford C. Bernstein cut Criteo from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $35.00 to $20.50 in a research note on Thursday, August 6th. Weiss Ratings upgraded Criteo from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, November 4th. Finally, Citigroup decreased their target price on Criteo from $23.00 to $21.00 and set a “buy” rating for the company in a report on Thursday, November 5th. Six equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Criteo has an average rating of “Hold” and an average target price of $20.85.

Criteo Trading Down 0.7%

Shares of Criteo stock opened at $17.43 on Tuesday. The firm’s 50 day simple moving average is $15.90 and its two-hundred day simple moving average is $17.93. The firm has a market capitalization of $857.73 million, a price-to-earnings ratio of 12.63 and a beta of 0.35. Criteo has a 12-month low of $13.95 and a 12-month high of $25.29.

Criteo (NASDAQ:CRTO) last posted its quarterly earnings data on Wednesday, November 4th. The information services provider reported $0.43 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.14). The company had revenue of $416.47 million for the quarter, compared to analyst estimates of $239.18 million. Criteo had a return on equity of 10.88% and a net margin of 3.99%. The company’s quarterly revenue was down 16.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.31 earnings per share. On average, sell-side analysts predict that Criteo will post 2.58 EPS for the current fiscal year.

Insider Activity

In related news, CEO Michael Komasinski sold 1,656 shares of the business’s stock in a transaction on Friday, August 28th. The shares were sold at an average price of $17.28, for a total transaction of $28,615.68. Following the completion of the transaction, the chief executive officer directly owned 343,891 shares in the company, valued at $5,942,436.48. The trade was a 0.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 2,855 shares of company stock worth $48,898 over the last three months. Company insiders own 1.52% of the company’s stock.

Institutional Investors Weigh In On Criteo

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Senvest Management LLC boosted its stake in shares of Criteo by 4.5% in the first quarter. Senvest Management LLC now owns 4,597,322 shares of the information services provider’s stock worth $82,430,000 after buying an additional 200,000 shares during the last quarter. Janus Henderson Group PLC boosted its position in Criteo by 4.6% in the 1st quarter. Janus Henderson Group PLC now owns 1,769,644 shares of the information services provider’s stock worth $31,774,000 after purchasing an additional 77,145 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in Criteo by 10.7% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 975,109 shares of the information services provider’s stock worth $17,484,000 after purchasing an additional 94,389 shares in the last quarter. Sei Investments Co. boosted its position in Criteo by 47.2% in the 1st quarter. Sei Investments Co. now owns 246,026 shares of the information services provider’s stock worth $4,411,000 after purchasing an additional 78,834 shares in the last quarter. Finally, Amundi boosted its position in Criteo by 24.2% in the 1st quarter. Amundi now owns 69,835 shares of the information services provider’s stock worth $1,252,000 after purchasing an additional 13,623 shares in the last quarter. 94.27% of the stock is owned by institutional investors and hedge funds.

About Criteo

Criteo is a global commerce media company that provides advertising technology to brands, retailers and media owners. Its platform uses commerce data and artificial intelligence to help businesses plan, deliver and measure digital advertising across websites, apps and other channels. Criteo’s offerings include Performance Media solutions for advertisers and Retail Media services that help retailers build and manage advertising programs. The company also works with publishers and other media owners to connect advertising demand with relevant audiences.