Criteo (NASDAQ:CRTO) Stock Breaks Above 50-Day Moving Average – Here’s What Happened

Criteo S.A. (NASDAQ:CRTO)’s share price crossed above its fifty day moving average during trading on Monday. The stock has a fifty day moving average of $15.93 and traded as high as $16.74. Criteo shares last traded at $16.61, with a volume of 729,075 shares traded.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CRTO. Benchmark reduced their target price on Criteo from $25.00 to $21.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Zacks Research raised Criteo from a “strong sell” rating to a “hold” rating in a report on Monday, October 19th. Citigroup reduced their price objective on Criteo from $23.00 to $21.00 and set a “buy” rating on the stock in a research report on Thursday, November 5th. Wells Fargo & Company decreased their price objective on Criteo from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 5th. Finally, Sanford C. Bernstein lowered Criteo from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $35.00 to $20.50 in a research note on Thursday, August 6th. Six investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $20.85.

Criteo Price Performance

The firm has a market cap of $863.64 million, a price-to-earnings ratio of 12.72 and a beta of 0.35. The business’s 50-day moving average price is $15.92 and its two-hundred day moving average price is $17.94.

Criteo (NASDAQ:CRTO) last issued its quarterly earnings results on Wednesday, November 4th. The information services provider reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.14). Criteo had a return on equity of 10.88% and a net margin of 3.99%. The business had revenue of $416.47 million for the quarter, compared to analysts’ expectations of $239.18 million. During the same period in the prior year, the company earned $1.31 EPS. The company’s revenue for the quarter was down 16.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Criteo S.A. will post 2.58 earnings per share for the current year.

Insider Transactions at Criteo

In other Criteo news, CEO Michael Komasinski sold 1,656 shares of Criteo stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $17.28, for a total value of $28,615.68. Following the completion of the sale, the chief executive officer owned 343,891 shares in the company, valued at $5,942,436.48. The trade was a 0.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 2,855 shares of company stock valued at $48,898. 1.52% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. QRG Capital Management Inc. boosted its position in shares of Criteo by 15.8% in the second quarter. QRG Capital Management Inc. now owns 54,023 shares of the information services provider’s stock worth $988,000 after acquiring an additional 7,352 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new position in Criteo during the second quarter worth approximately $36,000. GAMMA Investing LLC raised its stake in Criteo by 61.1% during the second quarter. GAMMA Investing LLC now owns 3,465 shares of the information services provider’s stock worth $63,000 after purchasing an additional 1,314 shares during the period. Parallel Advisors LLC raised its stake in Criteo by 357.9% during the first quarter. Parallel Advisors LLC now owns 4,126 shares of the information services provider’s stock worth $74,000 after purchasing an additional 3,225 shares during the period. Finally, Janus Henderson Group PLC boosted its holdings in shares of Criteo by 4.6% in the 1st 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 during the last quarter. 94.27% of the stock is currently owned by hedge funds and other institutional investors.

About Criteo

Criteo is a global commerce media company that provides advertising technology to brands, retailers and media owners. Its platform uses commerce data and artificial intelligence to help businesses plan, deliver and measure digital advertising across websites, apps and other channels. Criteo’s offerings include Performance Media solutions for advertisers and Retail Media services that help retailers build and manage advertising programs. The company also works with publishers and other media owners to connect advertising demand with relevant audiences.