Criteo (NASDAQ:CRTO) Shares Cross Below Two Hundred Day Moving Average – What’s Next?

Criteo S.A. (NASDAQ:CRTO) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $18.69 and traded as low as $18.07. Criteo shares last traded at $19.00, with a volume of 436,944 shares traded.

Analyst Upgrades and Downgrades

CRTO has been the topic of a number of analyst reports. Morgan Stanley lowered their target price on shares of Criteo from $29.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 6th. Sanford C. Bernstein lowered Criteo from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $35.00 to $20.50 in a research note on Thursday, August 6th. Benchmark decreased their price target on Criteo from $25.00 to $21.00 and set a “buy” rating on the stock in a report on Thursday, August 6th. Wedbush initiated coverage on Criteo in a research report on Thursday, July 16th. They issued an “outperform” rating and a $30.00 price objective on the stock. Finally, Citigroup reaffirmed a “buy” rating on shares of Criteo in a research note on Friday. Six investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Criteo presently has a consensus rating of “Hold” and an average target price of $23.15.

Criteo Price Performance

The firm’s 50-day moving average price is $19.70 and its 200-day moving average price is $18.69. The stock has a market cap of $931 million, a P/E ratio of 9.64 and a beta of 0.29.

Criteo (NASDAQ:CRTO) last issued its earnings results on Wednesday, August 5th. The information services provider reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.09. The firm had revenue of $428.02 million during the quarter, compared to analyst estimates of $263.40 million. Criteo had a net margin of 5.60% and a return on equity of 14.33%. Criteo’s revenue for the quarter was down 11.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.92 earnings per share. Sell-side analysts expect that Criteo S.A. will post 2.94 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Ryan Damon sold 6,178 shares of Criteo stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $17.23, for a total value of $106,446.94. Following the sale, the insider directly owned 167,765 shares of the company’s stock, valued at approximately $2,890,590.95. The trade was a 3.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Michael Komasinski sold 15,559 shares of Criteo stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $17.23, for a total value of $268,081.57. Following the completion of the sale, the chief executive officer directly owned 345,547 shares in the company, valued at $5,953,774.81. This trade represents a 4.31% 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. Insiders have sold a total of 30,487 shares of company stock worth $524,872 in the last 90 days. 1.52% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Criteo

Several institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its holdings in shares of Criteo by 61.1% during the 2nd quarter. GAMMA Investing LLC now owns 3,465 shares of the information services provider’s stock worth $63,000 after acquiring an additional 1,314 shares in the last quarter. Parallel Advisors LLC boosted its position in shares of 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 acquiring an additional 3,225 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of Criteo by 4.6% in the first quarter. Janus Henderson Group PLC now owns 1,769,644 shares of the information services provider’s stock valued at $31,774,000 after purchasing an additional 77,145 shares in the last quarter. Amundi grew its holdings in shares of Criteo by 24.2% in the first quarter. Amundi now owns 69,835 shares of the information services provider’s stock valued at $1,252,000 after purchasing an additional 13,623 shares in the last quarter. Finally, Senvest Management LLC increased its position in 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 purchasing an additional 200,000 shares during the last quarter. Hedge funds and other institutional investors own 94.27% of the company’s stock.

Criteo Company Profile

Criteo is a global technology company specializing in digital performance advertising and commerce media solutions. The company provides a range of AI-driven ad products designed to help brands, retailers, and agencies deliver personalized promotional messages to consumers across web, mobile, and connected TV environments. By leveraging large-scale data analytics and machine learning algorithms, Criteo’s platform optimizes the timing, placement, and creative of ads to drive engagement and conversions.

At the core of Criteo’s offering is its dynamic retargeting solution, which enables advertisers to automatically generate and display personalized product recommendations based on user behavior.