Criteo (NASDAQ:CRTO) Shares Gap Down – Here’s Why

Criteo S.A. (NASDAQ:CRTO)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $42.66, but opened at $36.29. Criteo shares last traded at $34.61, with a volume of 82,200 shares changing hands.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. BMO Capital Markets increased their target price on Criteo from $45.00 to $55.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. DA Davidson raised shares of Criteo from a “neutral” rating to a “buy” rating and increased their price objective for the company from $43.00 to $58.00 in a report on Tuesday, August 6th. StockNews.com downgraded shares of Criteo from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 21st. JPMorgan Chase & Co. raised their target price on shares of Criteo from $40.00 to $50.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Finally, KeyCorp cut shares of Criteo from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, July 30th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Criteo currently has a consensus rating of “Moderate Buy” and an average price target of $53.33.

Criteo Price Performance

The business has a 50-day moving average of $42.91 and a 200-day moving average of $40.76. The company has a market capitalization of $1.95 billion, a P/E ratio of 35.68 and a beta of 0.99.

Criteo (NASDAQ:CRTO) last announced its earnings results on Thursday, August 1st. The information services provider reported $1.08 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.31. The business had revenue of $471.31 million for the quarter, compared to the consensus estimate of $263.64 million. Criteo had a net margin of 4.54% and a return on equity of 15.64%. The business’s revenue for the quarter was up .5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.12 earnings per share. Sell-side analysts predict that Criteo S.A. will post 2.8 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Sarah Js Glickman sold 5,442 shares of Criteo stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $40.60, for a total transaction of $220,945.20. Following the completion of the sale, the chief financial officer now owns 313,398 shares in the company, valued at $12,723,958.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.71% of the stock is owned by corporate insiders.

Institutional Trading of Criteo

Several institutional investors and hedge funds have recently made changes to their positions in CRTO. GAMMA Investing LLC increased its position in Criteo by 67.3% during the 2nd quarter. GAMMA Investing LLC now owns 738 shares of the information services provider’s stock valued at $28,000 after buying an additional 297 shares in the last quarter. USA Financial Formulas acquired a new stake in shares of Criteo in the third quarter worth $31,000. Farther Finance Advisors LLC acquired a new position in Criteo during the third quarter valued at $50,000. EverSource Wealth Advisors LLC boosted its holdings in Criteo by 868.1% in the second quarter. EverSource Wealth Advisors LLC now owns 1,394 shares of the information services provider’s stock valued at $53,000 after purchasing an additional 1,250 shares during the last quarter. Finally, Covestor Ltd grew its position in Criteo by 64.1% during the 1st quarter. Covestor Ltd now owns 1,838 shares of the information services provider’s stock worth $64,000 after purchasing an additional 718 shares during the period. 94.27% of the stock is currently owned by institutional investors.

Criteo Company Profile

Criteo SA, a technology company, provides marketing and monetization services on the open Internet in North and South America, Europe, the Middle East, Africa, and the Asia-Pacific. The company's Criteo Shopper Graph, which derives clients' proprietary commerce data, such as transaction activity on their digital properties.