Criteo (NASDAQ:CRTO) Shares Gap Down - What's Next?

Shares of Criteo S.A. (NASDAQ:CRTO - Get Free Report) gapped down before the market opened on Wednesday . The stock had previously closed at $42.66, but opened at $36.29. Criteo shares last traded at $34.61, with a volume of 82,200 shares traded.

Analyst Ratings Changes

CRTO has been the subject of several research reports. DA Davidson raised shares of Criteo from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $43.00 to $58.00 in a research note on Tuesday, August 6th. JPMorgan Chase & Co. boosted their price target on Criteo from $40.00 to $50.00 and gave the company a "neutral" rating in a research report on Friday, August 2nd. KeyCorp downgraded Criteo from an "overweight" rating to a "sector weight" rating in a report on Tuesday, July 30th. Susquehanna boosted their target price on Criteo from $40.00 to $50.00 and gave the stock a "neutral" rating in a report on Friday, August 2nd. Finally, Morgan Stanley increased their target price on shares of Criteo from $35.00 to $39.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 23rd. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $53.33.

Criteo Trading Down 21.3 %

The stock has a market capitalization of $1.90 billion, a P/E ratio of 35.04 and a beta of 0.99. The stock's 50 day simple moving average is $42.91 and its 200 day simple moving average is $40.76.

Criteo (NASDAQ:CRTO - Get Free Report) last issued its quarterly earnings results on Thursday, August 1st. The information services provider reported $1.08 earnings per share for the quarter, beating analysts' consensus estimates of $0.77 by $0.31. The business had revenue of $471.31 million during the quarter, compared to the consensus estimate of $263.64 million. Criteo had a return on equity of 15.64% and a net margin of 4.54%. The business's quarterly revenue was up .5% on a year-over-year basis. During the same period in the previous year, the business earned $0.12 EPS. On average, sell-side analysts expect that Criteo S.A. will post 2.8 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Sarah Js Glickman sold 5,442 shares of the business's stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $40.60, for a total transaction of $220,945.20. Following the completion of the transaction, the chief financial officer now owns 313,398 shares of the company's stock, valued at approximately $12,723,958.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider Brian Gleason sold 2,841 shares of the stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $41.10, for a total value of $116,765.10. Following the completion of the transaction, the insider now directly owns 146,470 shares of the company's stock, valued at $6,019,917. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Sarah Js Glickman sold 5,442 shares of Criteo stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $40.60, for a total value of $220,945.20. Following the sale, the chief financial officer now directly owns 313,398 shares in the company, valued at $12,723,958.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.71% of the stock is owned by company insiders.

Institutional Investors Weigh In On Criteo

A number of hedge funds and other institutional investors have recently modified their holdings of CRTO. QRG Capital Management Inc. increased its stake in Criteo by 3.5% during the 3rd quarter. QRG Capital Management Inc. now owns 15,518 shares of the information services provider's stock valued at $624,000 after buying an additional 518 shares during the period. Robeco Institutional Asset Management B.V. raised its holdings in Criteo by 518.9% during the third quarter. Robeco Institutional Asset Management B.V. now owns 81,001 shares of the information services provider's stock worth $3,259,000 after purchasing an additional 67,913 shares in the last quarter. VELA Investment Management LLC lifted its position in Criteo by 15.3% in the third quarter. VELA Investment Management LLC now owns 111,624 shares of the information services provider's stock worth $4,492,000 after purchasing an additional 14,779 shares during the period. Farther Finance Advisors LLC acquired a new position in shares of Criteo during the 3rd quarter valued at $50,000. Finally, Congress Asset Management Co. bought a new stake in shares of Criteo in the 3rd quarter worth $48,653,000. 94.27% of the stock is currently owned by institutional investors.

About Criteo

Criteo SA, a technology company, provides marketing and monetization services on the open Internet in North and South America, Europe, the Middle East, Africa, and the Asia-Pacific. The company's Criteo Shopper Graph, which derives clients' proprietary commerce data, such as transaction activity on their digital properties.