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

Criteo S.A. (NASDAQ:CRTO) shares gapped up prior to trading on Tuesday . The stock had previously closed at $17.66, but opened at $18.46. Criteo shares last traded at $18.28, with a volume of 11,251 shares.

Analyst Ratings Changes

CRTO has been the topic of several analyst reports. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Criteo in a research report on Monday, April 20th. Morgan Stanley reduced their price target on shares of Criteo from $33.00 to $29.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 13th. Benchmark lowered their target price on shares of Criteo from $30.00 to $25.00 and set a “buy” rating on the stock in a research note on Thursday, May 7th. Stifel Nicolaus lowered their target price on Criteo from $30.00 to $29.00 and set a “buy” rating on the stock in a report on Monday, April 13th. Finally, Wells Fargo & Company reissued an “equal weight” rating and issued a $18.00 price objective (down from $34.00) on shares of Criteo in a report on Wednesday, May 6th. Five investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $27.44.

Criteo Trading Up 1.0%

The firm’s fifty day moving average price is $17.67 and its 200 day moving average price is $18.55. The stock has a market capitalization of $928.03 million, a price-to-earnings ratio of 8.63 and a beta of 0.32.

Criteo (NASDAQ:CRTO) last posted its earnings results on Tuesday, March 31st. The information services provider reported $0.73 earnings per share for the quarter. The firm had revenue of $424.64 million during the quarter. Criteo had a net margin of 6.06% and a return on equity of 14.98%. On average, analysts forecast that Criteo S.A. will post 3.12 earnings per share for the current fiscal year.

Insider Activity at Criteo

In other news, CFO Sarah Js Glickman sold 2,465 shares of Criteo stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $17.06, for a total value of $42,052.90. Following the completion of the sale, the chief financial officer directly owned 431,879 shares of the company’s stock, valued at approximately $7,367,855.74. The trade was a 0.57% decrease in their ownership of the stock. The sale was disclosed in a filing 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. 1.52% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Criteo

Hedge funds have recently bought and sold shares of the company. Neuberger Berman Group LLC grew its position in Criteo by 19.8% in the 3rd quarter. Neuberger Berman Group LLC now owns 7,840,788 shares of the information services provider’s stock valued at $177,176,000 after acquiring an additional 1,297,980 shares in the last quarter. Morgan Stanley increased its stake in Criteo by 21.6% during the fourth quarter. Morgan Stanley now owns 4,723,794 shares of the information services provider’s stock worth $97,357,000 after purchasing an additional 838,523 shares during the period. Millennium Management LLC lifted its position in shares of Criteo by 226.7% during the third quarter. Millennium Management LLC now owns 1,097,465 shares of the information services provider’s stock worth $24,803,000 after purchasing an additional 761,565 shares in the last quarter. Ameriprise Financial Inc. acquired a new stake in shares of Criteo during the third quarter worth about $11,926,000. Finally, Nierenberg Investment Management Company LLC boosted its stake in shares of Criteo by 109.2% in the fourth quarter. Nierenberg Investment Management Company LLC now owns 888,888 shares of the information services provider’s stock valued at $18,320,000 after purchasing an additional 463,929 shares during the period. Institutional investors and hedge funds 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.