Cardlytics (NASDAQ:CDLX – Free Report) The price target was cut by Northland Securities from $14.00 to $7.00 in a research report published Thursday morning, Benzinga reports. Northland Securities currently has an outperform rating on the stock.
A number of other equities analysts also recently commented on CDLX. Needham & Company LLC downgraded Cardlytics from a buy rating to a hold rating in a report on Thursday. Bank of America reiterated a neutral rating and issued a $11.00 price target on shares of Cardlytics in a research report on Thursday, June 20. Lake Street Capital downgraded Cardlytics shares from a buy rating to a hold rating in a report on Thursday and decreased their price target for the company from $18.00 to $5.00. Northland Capmk upgraded Cardlytics to a strong buy rating in a report on Tuesday, June 18. Finally, Craig Hallum downgraded Cardlytics from a buy rating to a hold rating in a research note on Thursday. Four equities research analysts have rated the stock with a hold rating, one has a buy rating and one has a strong buy rating. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $9.40.
Check out our latest report on CDLX
Cardlytics shares rise 27.7%
NASDAQ:CDLX shares opened at $3.78 on Thursday. The company has a 50-day moving average of $8.14 and a 200-day moving average of $9.55. Cardlytics has a 52-week low of $2.89 and a 52-week high of $20.52. The company has a debt-to-equity ratio of 1.30, a quick ratio of 2.13 and a current ratio of 2.13. The company has a market cap of $184.40 million, a P/E ratio of -0.86 and a beta of 1.65.
Cardlytics (NASDAQ:CDLX – Get Free Report) last released its earnings results on Wednesday, August 7. The company reported earnings per share (EPS) of -$0.09 for the quarter, beating analysts’ consensus estimates of -$0.21 by $0.12. Cardlytics had a negative return on equity of 25.36% and a negative net margin of 55.23%. The company posted revenue of $69.64 million for the quarter, compared to analyst estimates of $75.39 million. During the same quarter last year, the company posted earnings per share of -$0.57. The company’s revenue for the quarter decreased 9.2% year-over-year. As a group, research analysts expect Cardlytics to post earnings per share of -1.8 for the current year.
Insider buying and selling
In related news, major shareholder Clifford Sosin bought 3,746 shares of Cardlytics on Monday, May 13. The shares were purchased at an average price of $8.99 per share, for a total value of $33,676.54. Following the completion of the transaction, the insider now directly owns 6,464,859 shares of the company’s stock, valued at $58,119,082.41. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. In related news, COO Amit Gupta sold 22,699 shares of Cardlytics on Wednesday, July 24. The shares were sold at an average price of $8.66, for a total value of $196,573.34. Following the transaction, the Chief Operating Officer now owns 150,569 shares of the company’s stock, valued at approximately $1,303,927.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Clifford Sosin bought 3,746 shares of the company’s stock on Monday, May 13. The shares were purchased at an average price of $8.99 per share, for a total value of $33,676.54. Following the completion of the acquisition, the insider now directly owns 6,464,859 shares of the company’s stock, valued at $58,119,082.41. The disclosure regarding this purchase can be found here. In the last three months, insiders sold 86,742 shares of the company’s stock, valued at $735,905. Company insiders own 4.40% of the company’s stock.
Hedge funds comment on Cardlytics
Several large investors have recently made changes to their positions in CDLX. Canton Hathaway LLC increased its holdings in Cardlytics by 95.7% in the 2nd quarter. Canton Hathaway LLC now owns 4,500 shares of the company’s stock valued at $37,000 after purchasing an additional 2,200 shares in the last quarter. Banco Santander SA bought a new position in Cardlytics in the first quarter valued at $199,000. Quest Partners LLC increased its holdings in Cardlytics by 160.4% in the 2nd quarter. Quest Partners LLC now owns 17,956 shares of the company’s stock valued at $147,000 after purchasing an additional 11,061 shares in the last quarter. SG Americas Securities LLC increased its holdings in Cardlytics by 34.3% in the 4th quarter. SG Americas Securities LLC now owns 21,461 shares of the company’s stock valued at $198,000 after acquiring an additional 5,484 shares during the same period. Finally, Clear Street Markets LLC acquired a new stake in Cardlytics in the 4th quarter valued at $199,000. Institutional investors and hedge funds own 68.10% of the company’s stock.
Cardlytics Company Profile
(Get free report)
Cardlytics, Inc. operates an advertising platform in the United States and the United Kingdom. The company offers the Cardlytics Platform, a proprietary native banking advertising channel that enables marketers to reach customers through their network of financial institution partners via digital channels such as online, mobile applications, email, and various real-time notifications; and the Bridg Platform, a customer data platform that leverages point-of-sale data and enables marketers to perform analytics and targeted loyalty marketing, as well as measure the impact of their marketing.
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