Wells Fargo & Company Cuts Criteo (NASDAQ:CRTO) Price Target to $63.00

Criteo (NASDAQ:CRTO) had its target price reduced by stock analysts at Wells Fargo & Company from $66.00 to $63.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the information services provider’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 67.05% from the company’s current price.

A number of other brokerages have also issued reports on CRTO. StockNews.com upgraded shares of Criteo from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Susquehanna cut their price objective on Criteo from $50.00 to $36.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. DA Davidson decreased their target price on Criteo from $58.00 to $53.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Finally, Benchmark reiterated a “buy” rating and issued a $51.00 price target on shares of Criteo in a report on Tuesday, November 19th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $49.89.

Criteo Price Performance

CRTO opened at $37.71 on Thursday. Criteo has a 12-month low of $23.90 and a 12-month high of $49.93. The stock has a market capitalization of $2.08 billion, a PE ratio of 25.66 and a beta of 1.06. The firm’s fifty day moving average price is $40.09 and its 200 day moving average price is $41.67.

Insider Buying and Selling

In related news, insider Ryan Damon sold 2,793 shares of Criteo stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $42.54, for a total value of $118,814.22. Following the sale, the insider now directly owns 115,646 shares in the company, valued at $4,919,580.84. This trade represents a 2.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Megan Clarken sold 9,284 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $40.36, for a total transaction of $374,702.24. Following the completion of the transaction, the chief executive officer now owns 509,145 shares of the company’s stock, valued at approximately $20,549,092.20. This trade represents a 1.79 % decrease in their position. 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 three months. 1.71% of the stock is owned by insiders.

Institutional Investors Weigh In On Criteo

A number of hedge funds have recently made changes to their positions in CRTO. Federated Hermes Inc. increased its position in Criteo by 18.5% in the 2nd quarter. Federated Hermes Inc. now owns 56,550 shares of the information services provider’s stock valued at $2,133,000 after acquiring an additional 8,823 shares during the period. Envestnet Asset Management Inc. grew its stake in shares of Criteo by 1.4% in the second quarter. Envestnet Asset Management Inc. now owns 69,527 shares of the information services provider’s stock worth $2,623,000 after purchasing an additional 976 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its holdings in shares of Criteo by 40.9% during the second quarter. Mercer Global Advisors Inc. ADV now owns 14,266 shares of the information services provider’s stock valued at $538,000 after purchasing an additional 4,142 shares during the period. Inspire Investing LLC bought a new stake in shares of Criteo during the second quarter valued at about $819,000. Finally, Sei Investments Co. lifted its holdings in Criteo by 1.6% in the second quarter. Sei Investments Co. now owns 102,768 shares of the information services provider’s stock worth $3,876,000 after purchasing an additional 1,582 shares during the period. Institutional investors own 94.27% of the company’s stock.

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.