Why Criteo S.A. (CRTO) Shares Retreated -5.07% Today

What just happened? Criteo S.A. (NASDAQ:CRTO) stock value has plummeted by nearly -5.07% or (-0.99 points) to $18.54 from its previous close of $19.53. Does this decline mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 214869 contracts so far this session. CRTO shares had a relatively better volume day versus average trading capacity of 464.06 thousand shares, but with a 63.16 million float and a -1.76% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for CRTO stock indicates that the average analyst price target is $24.14 per share. This means the stock has a potential increase of 30.2% from where the CRTO share price has been trading recently which is between $19.2339 and $20.04. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $18.

The shorts are running away from Criteo S.A. (CRTO) stock. The latest set of short interest data was released on 31 July 2019, and the numbers show a drop in short interest in CRTO shares. While short interest still represents only 2.46% of CRTO’s float, the number of shares shorted have fallen by -44138. The number of shares shorted fell to 1512291 shares, down from 1556429 shares during the preceding fortnight. With average daily trading volumes at 393737 shares, days to cover decreased to about 6.54699 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “We Think Criteo (NASDAQ:CRTO) Can Stay On Top Of Its Debt” and dated August 14, 2019.

Looking at the current readings for Criteo S.A., the two-week RSI stands at 44.82. This figure suggests that CRTO stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current CRTO readings is similarly very revealing as it has a stochastic reading of 49.02% at this stage. This figure means that CRTO share price today is being neutral.

Technical chart claims that Criteo S.A. (CRTO) would settle between $19.97/share to $20.41/share level. However, if the stock price goes below the $19.16 mark, then the market for Criteo S.A. becomes much weaker. If that happens, the stock price might even plunge as low as $18.8 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.36. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.

Analysts at SunTrust raised their recommendation on shares of CRTO from Hold to Buy in their opinion released on May 08. Macquarie analysts have lowered their rating of Criteo S.A. (NASDAQ:CRTO) stock from Outperform to Neutral in a separate flash note issued to investors on May 01. Analysts at SunTrust lowered the stock to a Hold call from its previous Buy recommendation, in a research note that dated back to March 26.

CRTO equity has an average rating of 2.67, with the figure leaning towards a bullish end. 21 analysts who tracked the company were contacted by Reuters. Amongst them, 13 rated the stock as a hold while the remaining 8 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while others rated it as a sell. 6 analysts rated Criteo S.A. (NASDAQ:CRTO) as a buy or a strong buy while 2 advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.

Moving on, CRTO stock price is currently trading at 7.81X forward 12-month Consensus EPS estimates, and its P/S ratio is 1.44 while for the average stock in the same group, the multiple is 1.42. Criteo S.A. current P/E ratio of 42.12 means it is trading at a premium against its industry’s 30.19. In the past 5 years, this ratio for the stock has been fluctuating between 32.77 and 1334.56.

Criteo S.A. (CRTO)’s current-quarter revenues are projected to climb by nearly -0.52% to hit $221790, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over -0.67% from $965450 to a noteworthy $959000. At the other end of the current quarter income statement, Criteo S.A. is expected to see its adjusted earnings surge by roughly -9.26% to hit $0.49 per share. For the fiscal year, CRTO’s earnings are projected to climb by roughly -0.4% to hit $2.48 per share.