Wells Fargo & Company Issues Pessimistic Forecast for Criteo (NASDAQ:CRTO) Stock Price

Criteo (NASDAQ:CRTO) had its target price lowered by analysts at Wells Fargo & Company from $66.00 to $63.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the information services provider’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 68.13% from the stock’s previous close.

CRTO has been the subject of a number of other reports. Susquehanna cut their price objective on Criteo from $50.00 to $36.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. DA Davidson cut their price target on shares of Criteo from $58.00 to $53.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Benchmark reaffirmed a “buy” rating and set a $51.00 price objective on shares of Criteo in a report on Tuesday, November 19th. Finally, StockNews.com raised Criteo from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Criteo presently has an average rating of “Moderate Buy” and a consensus target price of $49.89.

Criteo Price Performance

Shares of CRTO traded down $0.38 during mid-day trading on Thursday, reaching $37.47. The company had a trading volume of 31,573 shares, compared to its average volume of 359,769. The company’s 50-day moving average is $40.01 and its 200-day moving average is $41.70. The company has a market capitalization of $2.07 billion, a P/E ratio of 25.49 and a beta of 1.06. Criteo has a twelve month low of $23.90 and a twelve month high of $49.93.

Insider Transactions at Criteo

In related news, CFO Sarah Js Glickman sold 5,442 shares of the company’s 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 completion of the sale, the chief financial officer now owns 313,398 shares in the company, valued at $12,723,958.80. This represents a 1.71 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Brian Gleason sold 2,841 shares of Criteo stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $41.10, for a total value of $116,765.10. Following the transaction, the insider now owns 146,470 shares in the company, valued at approximately $6,019,917. This represents a 1.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 24,765 shares of company stock worth $1,009,013 in the last quarter. 1.71% of the stock is owned by company insiders.

Hedge Funds Weigh In On Criteo

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Federated Hermes Inc. lifted its holdings in shares of Criteo by 18.5% in the second quarter. Federated Hermes Inc. now owns 56,550 shares of the information services provider’s stock valued at $2,133,000 after purchasing an additional 8,823 shares in the last quarter. Envestnet Asset Management Inc. raised its position in Criteo by 1.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 69,527 shares of the information services provider’s stock valued at $2,623,000 after buying an additional 976 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted its position in Criteo by 40.9% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 14,266 shares of the information services provider’s stock worth $538,000 after acquiring an additional 4,142 shares during the last quarter. Inspire Investing LLC bought a new position in shares of Criteo during the 2nd quarter worth approximately $819,000. Finally, Sei Investments Co. raised its holdings in shares of Criteo by 1.6% in the second quarter. Sei Investments Co. now owns 102,768 shares of the information services provider’s stock valued at $3,876,000 after purchasing an additional 1,582 shares during the last quarter. 94.27% of the stock is owned by institutional investors and hedge funds.

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.