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

Criteo S.A. (NASDAQ:CRTO)’s share price reached a new 52-week low during trading on Monday. The company traded as low as $14.35 and last traded at $14.60, with a volume of 448637 shares traded. The stock had previously closed at $14.73.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on CRTO shares. Weiss Ratings reiterated a “sell (d+)” rating on shares of Criteo in a research report on Friday, July 17th. Benchmark cut their target price on Criteo from $25.00 to $21.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Huber Research lowered Criteo from an “overweight” rating to an “underweight” rating in a report on Monday, August 24th. Sanford C. Bernstein lowered Criteo from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $35.00 to $20.50 in a report on Thursday, August 6th. Finally, Citigroup reiterated a “buy” rating on shares of Criteo in a research report on Friday, August 14th. Six investment analysts have rated the stock with a Buy rating, three have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Criteo presently has an average rating of “Hold” and a consensus target price of $22.65.

Criteo Stock Performance

The stock has a market capitalization of $725.20 million, a PE ratio of 7.51 and a beta of 0.29. The business’s 50-day moving average price is $17.56 and its 200 day moving average price is $18.28.

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

Insider Activity

In related news, insider Ryan Damon sold 6,178 shares of the company’s stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $17.23, for a total value of $106,446.94. Following the transaction, the insider directly owned 167,765 shares in the company, valued at approximately $2,890,590.95. This represents a 3.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Sarah Glickman sold 6,285 shares of the firm’s stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $17.23, for a total transaction of $108,290.55. Following the completion of the sale, the chief financial officer directly owned 424,612 shares in the company, valued at $7,316,064.76. This represents a 1.46% 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. In the last 90 days, insiders sold 30,725 shares of company stock worth $529,527. 1.52% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Criteo

A number of institutional investors have recently made changes to their positions in CRTO. Senvest Management LLC boosted its stake in shares of Criteo by 4.5% in the 1st quarter. Senvest Management LLC now owns 4,597,322 shares of the information services provider’s stock valued at $82,430,000 after purchasing an additional 200,000 shares in the last quarter. Barometer Capital Management Inc. raised its position in Criteo by 2,730.7% in the 4th quarter. Barometer Capital Management Inc. now owns 137,800 shares of the information services provider’s stock worth $2,840,000 after purchasing an additional 132,932 shares during the period. Div Capital Phoenix Assets Ltd purchased a new position in Criteo in the 4th quarter worth $2,288,000. Arrowstreet Capital Limited Partnership lifted its stake in Criteo by 10.7% in the first 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 during the last quarter. Finally, Sei Investments Co. lifted its stake in Criteo by 47.2% in the first 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 during the last quarter. Institutional investors own 94.27% of the company’s stock.

About Criteo

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.