Wells Fargo & Company Lowers Criteo (NASDAQ:CRTO) Price Target to $66.00

Criteo (NASDAQ:CRTO) had its price objective dropped by investment analysts at Wells Fargo & Company from $68.00 to $66.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the information services provider’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 123.96% from the stock’s previous close.

Several other equities research analysts have also commented on CRTO. Morgan Stanley cut their target price on Criteo from $44.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 17th. Stifel Nicolaus reduced their price objective on shares of Criteo from $61.00 to $46.00 and set a “buy” rating for the company in a research report on Wednesday, April 23rd. Citigroup reissued an “underperform” rating on shares of Criteo in a research note on Friday, April 25th. StockNews.com cut shares of Criteo from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 4th. Finally, BMO Capital Markets upped their price target on Criteo from $48.00 to $60.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Criteo currently has a consensus rating of “Moderate Buy” and an average price target of $50.90.

Criteo Trading Down 11.8 %

Shares of CRTO stock opened at $29.47 on Thursday. The stock has a 50-day moving average of $33.86 and a 200-day moving average of $37.94. The stock has a market cap of $1.70 billion, a price-to-earnings ratio of 17.54 and a beta of 0.63. Criteo has a 1-year low of $27.46 and a 1-year high of $49.93.

Criteo (NASDAQ:CRTO) last released its quarterly earnings results on Wednesday, February 5th. The information services provider reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.04. Criteo had a net margin of 5.08% and a return on equity of 16.37%. Sell-side analysts forecast that Criteo will post 3.09 earnings per share for the current year.

Insiders Place Their Bets

In other Criteo news, insider Brian Gleason sold 2,841 shares of the company’s stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $33.89, for a total value of $96,281.49. Following the completion of the sale, the insider now directly owns 157,450 shares of the company’s stock, valued at approximately $5,335,980.50. This represents a 1.77 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Megan Clarken sold 13,823 shares of Criteo stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $43.56, for a total transaction of $602,129.88. Following the transaction, the chief executive officer now directly owns 488,229 shares in the company, valued at approximately $21,267,255.24. This represents a 2.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,145 shares of company stock valued at $1,031,391 in the last three months. 1.71% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Criteo

Several large investors have recently made changes to their positions in CRTO. TD Private Client Wealth LLC grew its position in Criteo by 21.4% during the first quarter. TD Private Client Wealth LLC now owns 2,413 shares of the information services provider’s stock valued at $85,000 after buying an additional 426 shares during the period. Envestnet Asset Management Inc. grew its position in shares of Criteo by 10.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 102,453 shares of the information services provider’s stock valued at $3,628,000 after acquiring an additional 9,382 shares during the period. VELA Investment Management LLC increased its stake in shares of Criteo by 20.2% during the 1st quarter. VELA Investment Management LLC now owns 188,744 shares of the information services provider’s stock worth $6,683,000 after purchasing an additional 31,758 shares during the last quarter. Waterfront Wealth Inc. lifted its stake in Criteo by 7.4% in the first quarter. Waterfront Wealth Inc. now owns 52,781 shares of the information services provider’s stock valued at $1,869,000 after purchasing an additional 3,620 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its holdings in Criteo by 8.3% during the first quarter. Robeco Institutional Asset Management B.V. now owns 37,939 shares of the information services provider’s stock valued at $1,343,000 after purchasing an additional 2,900 shares during the period. 94.27% of the stock is owned by hedge funds and other 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.