Criteo (NASDAQ:CRTO) Share Price Crosses Above 50 Day Moving Average – Here’s Why

Criteo S.A. (NASDAQ:CRTO)’s stock price passed 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 changing hands.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on CRTO shares. Morgan Stanley dropped their target price on shares of Criteo from $29.00 to $25.00 and set an “equal weight” rating on the stock in a report on Thursday, August 6th. Zacks Research raised Criteo from a “strong sell” rating to a “hold” rating in a research report on Monday, October 19th. Weiss Ratings raised Criteo from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, November 4th. Sanford C. Bernstein lowered shares of Criteo from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $35.00 to $20.50 in a report on Thursday, August 6th. Finally, Wells Fargo & Company dropped their target price on Criteo from $15.00 to $14.00 and set an “equal weight” rating for the company in a report on Thursday, November 5th. Six research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $21.35.

Criteo Price Performance

The company has a market cap of $813.89 million, a price-to-earnings ratio of 12.04 and a beta of 0.35. The business has a 50 day simple moving average of $15.93 and a 200 day simple moving average of $17.97.

Criteo (NASDAQ:CRTO) last announced its earnings results on Wednesday, November 4th. The information services provider reported $0.43 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.14). Criteo had a return on equity of 10.90% and a net margin of 3.99%. The business had revenue of $240.36 million for the quarter, compared to the consensus estimate of $239.18 million. During the same quarter in the previous year, the company posted $1.31 EPS. Criteo’s revenue for the quarter was down 16.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Criteo S.A. will post 2.58 earnings per share for the current fiscal year.

Insider Transactions at Criteo

In other Criteo news, CEO Michael Komasinski sold 1,656 shares of the business’s stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $17.28, for a total value of $28,615.68. Following the completion of the transaction, the chief executive officer directly owned 343,891 shares of the company’s stock, valued at approximately $5,942,436.48. The trade was a 0.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 2,855 shares of company stock worth $48,898. 1.52% of the stock is owned by corporate insiders.

Institutional Trading of Criteo

Hedge funds have recently modified their holdings of the stock. WealthCollab LLC increased its stake in Criteo by 147.5% during the 1st quarter. WealthCollab LLC now owns 1,371 shares of the information services provider’s stock worth $25,000 after purchasing an additional 817 shares in the last quarter. Rockefeller Capital Management L.P. lifted its stake in Criteo by 185.8% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,446 shares of the information services provider’s stock valued at $30,000 after buying an additional 940 shares in the last quarter. GAMMA Investing LLC lifted its stake in Criteo by 61.1% in the second quarter. GAMMA Investing LLC now owns 3,465 shares of the information services provider’s stock valued at $63,000 after buying an additional 1,314 shares in the last quarter. Integrated Wealth Concepts LLC bought a new position in Criteo in the second quarter valued at approximately $36,000. Finally, Parallel Advisors LLC boosted its holdings in shares of Criteo by 357.9% in the first quarter. Parallel Advisors LLC now owns 4,126 shares of the information services provider’s stock valued at $74,000 after buying an additional 3,225 shares during the period. 94.27% of the stock is owned by institutional investors.

About Criteo

Criteo SA (NASDAQ: CRTO) is a global commerce media and advertising technology company headquartered in Paris, France. The company helps brands, retailers and other businesses use commerce data and artificial intelligence to reach consumers, build customer relationships and measure advertising performance across digital channels.

Criteo’s offerings include retail media solutions, which enable retailers and marketplace operators to provide sponsored product listings and other advertising placements, as well as performance media tools for campaigns across websites, mobile applications and the open internet.