Criteo (NASDAQ:CRTO) Raised to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Criteo (NASDAQ:CRTO) from a hold rating to a buy rating in a research note released on Tuesday morning, Zacks.com reports. The firm currently has $20.00 price objective on the information services provider’s stock.
According to Zacks, “Criteo SA is a global technology company that specializes in performance display advertising. The Company offers clients a range of solutions such as click per cost, online banner displays, user optimization, data security, and search management tools to control campaign costs. It serves companies in the online retail, classifieds, and travel segments. Criteo SA is headquartered in Paris, France. “
A number of other research firms have also weighed in on CRTO. Macquarie assumed coverage on shares of Tullow Oil in a report on Wednesday, May 1st. They set a neutral rating for the company. BidaskClub lowered shares of Amyris from a hold rating to a sell rating in a report on Thursday, June 27th. ValuEngine downgraded shares of W&T Offshore from a hold rating to a sell rating in a research note on Friday, April 26th. Rosenblatt Securities reissued a hold rating and issued a $23.00 price target on shares of Criteo in a research note on Friday, May 3rd. Finally, BMO Capital Markets reissued a hold rating and issued a $45.00 price target on shares of SAP in a research note on Wednesday, May 1st. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of Hold and an average price target of $28.53.
Criteo (NASDAQ:CRTO) last posted its earnings results on Tuesday, April 30th. The information services provider reported $0.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.13. The company had revenue of $235.69 million during the quarter, compared to analyst estimates of $234.24 million. Criteo had a net margin of 3.83% and a return on equity of 10.75%. Criteo’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.60 earnings per share. As a group, sell-side analysts expect that Criteo will post 1.66 EPS for the current year.
In other news, COO Mary Spilman sold 1,567 shares of the stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $17.05, for a total transaction of $26,717.35. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 4.01% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of the company. New York State Common Retirement Fund bought a new stake in shares of Criteo in the 4th quarter worth about $1,125,000. Marshall Wace North America L.P. increased its stake in Criteo by 26.9% during the 1st quarter. Marshall Wace North America L.P. now owns 36,593 shares of the information services provider’s stock valued at $733,000 after purchasing an additional 7,757 shares in the last quarter. Bank of America Corp DE increased its stake in Criteo by 28.8% during the 4th quarter. Bank of America Corp DE now owns 223,065 shares of the information services provider’s stock valued at $5,067,000 after purchasing an additional 49,881 shares in the last quarter. Quantamental Technologies LLC acquired a new position in Criteo during the 1st quarter valued at approximately $63,000. Finally, Stifel Financial Corp increased its stake in Criteo by 12.2% during the 4th quarter. Stifel Financial Corp now owns 17,874 shares of the information services provider’s stock valued at $409,000 after purchasing an additional 1,944 shares in the last quarter. Hedge funds and other institutional investors own 83.34% of the company’s stock.
Criteo Company Profile
Criteo SA, a technology company, provides an advertising platform for the open Internet in France and internationally. The company's Criteo Shopper Graph, which collects clients' proprietary commerce data, such as transaction activity on their digital properties. Its Criteo AI Engine solutions include Lookalike finder algorithms; recommendation algorithms; predictive bidding algorithms; bidding engine that executes campaigns based on certain objectives set by its clients; dynamic creative optimization+, which assembles customized creative advertising content by optimizing each individual creative component in the advertisement; software systems and processes, which enable data synchronization, storage, and analysis of distributed computing infrastructure in various geographies; and experimentation platform, an offline/online platform to enhance the capabilities and effectiveness of prediction models.
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