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

Criteo S.A. (NASDAQ:CRTO)’s stock price gapped down before the market opened 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 trading hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on CRTO shares. Wells Fargo & Company started coverage on Criteo in a research report on Monday. They set an “overweight” rating and a $70.00 target price on the stock. JPMorgan Chase & Co. upped their target price on Criteo from $40.00 to $50.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. KeyCorp cut shares of Criteo from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, July 30th. Benchmark restated a “buy” rating and set a $56.00 price objective on shares of Criteo in a research report on Thursday, October 10th. Finally, Macquarie lifted their target price on shares of Criteo from $45.00 to $65.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Criteo currently has an average rating of “Moderate Buy” and a consensus price target of $53.33.

Criteo Stock Performance

The firm has a market capitalization of $1.95 billion, a PE ratio of 35.68 and a beta of 0.99. The stock’s 50 day simple moving average is $42.91 and its two-hundred day simple moving average is $40.76.

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

Insider Buying and Selling

In other news, CFO Sarah Js Glickman sold 5,442 shares of the firm’s stock in a transaction that occurred on 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 Securities & Exchange Commission, which is available at this hyperlink. 1.71% of the stock is owned by company insiders.

Institutional Trading of Criteo

Institutional investors and hedge funds have recently bought and sold shares of the stock. Alpha DNA Investment Management LLC acquired a new stake in shares of Criteo during the second quarter valued at about $473,000. Lord Abbett & CO. LLC lifted its stake in Criteo by 3.5% during the first quarter. Lord Abbett & CO. LLC now owns 1,100,902 shares of the information services provider’s stock worth $38,608,000 after purchasing an additional 37,364 shares in the last quarter. Inspire Investing LLC purchased a new position in shares of Criteo during the second quarter worth $819,000. SG Americas Securities LLC purchased a new stake in shares of Criteo in the 2nd quarter valued at $248,000. Finally, BNP Paribas Financial Markets lifted its stake in Criteo by 23.3% during the 1st quarter. BNP Paribas Financial Markets now owns 200,011 shares of the information services provider’s stock worth $7,014,000 after acquiring an additional 37,844 shares in the last quarter. 94.27% of the stock is currently owned by hedge funds and other institutional investors.

About Criteo

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.