Criteo (CRTO) Upgraded 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 report published on Tuesday. They currently have $25.00 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. “

Other equities analysts have also issued research reports about the company. ValuEngine raised Criteo from a strong sell rating to a sell rating in a research note on Tuesday, July 10th. BidaskClub raised Criteo from a sell rating to a hold rating in a research note on Thursday, September 20th. KeyCorp reduced their price objective on Criteo from $50.00 to $42.00 and set an overweight rating on the stock in a research note on Thursday, August 2nd. Nomura assumed coverage on Criteo in a research note on Tuesday, July 10th. They issued a neutral rating and a $34.00 price objective on the stock. Finally, DA Davidson assumed coverage on Criteo in a research note on Monday, October 8th. They issued a neutral rating and a $25.00 price objective on the stock. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $31.44.

CRTO stock traded down $0.68 during trading on Tuesday, hitting $20.20. The company had a trading volume of 960,196 shares, compared to its average volume of 507,092. The firm has a market cap of $1.43 billion, a price-to-earnings ratio of 12.39, a P/E/G ratio of 2.81 and a beta of 1.48. Criteo has a fifty-two week low of $19.85 and a fifty-two week high of $36.66.

Criteo (NASDAQ:CRTO) last announced its quarterly earnings results on Wednesday, October 31st. The information services provider reported $0.53 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.06. The business had revenue of $223.00 million for the quarter, compared to analyst estimates of $222.00 million. Criteo had a return on equity of 12.98% and a net margin of 4.50%. Criteo’s quarterly revenue was down 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.65 EPS. As a group, research analysts anticipate that Criteo will post 1.52 EPS for the current year.

Several hedge funds have recently added to or reduced their stakes in CRTO. Bank of New York Mellon Corp increased its holdings in Criteo by 70.8% in the third quarter. Bank of New York Mellon Corp now owns 3,257,505 shares of the information services provider’s stock valued at $74,726,000 after purchasing an additional 1,350,322 shares during the last quarter. Allianz Asset Management GmbH increased its holdings in Criteo by 8.7% in the first quarter. Allianz Asset Management GmbH now owns 3,084,800 shares of the information services provider’s stock valued at $79,711,000 after purchasing an additional 246,560 shares during the last quarter. First Manhattan Co. increased its holdings in Criteo by 4.3% in the third quarter. First Manhattan Co. now owns 2,622,051 shares of the information services provider’s stock valued at $60,149,000 after purchasing an additional 106,922 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD increased its holdings in Criteo by 8.6% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 2,612,825 shares of the information services provider’s stock valued at $85,831,000 after purchasing an additional 207,495 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in Criteo by 3.9% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,645,899 shares of the information services provider’s stock valued at $54,068,000 after purchasing an additional 62,134 shares during the last quarter. Institutional investors own 86.36% of the company’s stock.

About Criteo

Criteo SA, a technology company, engages in digital performance marketing 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 Engine solutions include recommendation algorithms that create tailored advertisements to specific customer interest by determining the specific products and services to include in the advertisement; predictive bidding algorithms that predict the probability and nature of a user's engagement with a given advertisement; and bidding engine for executing campaigns based on objectives set by the clients.

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