Cardlytics (NASDAQ:CDLX) Shares Gap Down After Analyst Downgrade

Cardlytics, Inc. (NASDAQ:CDLXGet Rating)’s share price gapped down before the market opened on Wednesday after Wells Fargo & Company lowered their price target on the stock from $15.00 to $14.00. The stock had previously closed at $15.07, but opened at $13.70. Wells Fargo & Company currently has an equal weight rating on the stock. Cardlytics shares last traded at $15.11, with a volume of 2,699 shares.

Other research analysts have also recently issued research reports about the stock. Bank of America cut shares of Cardlytics from a “neutral” rating to an “underperform” rating and set a $14.00 target price for the company. in a report on Tuesday, July 12th. JPMorgan Chase & Co. reduced their target price on shares of Cardlytics from $47.00 to $35.00 and set a “neutral” rating for the company in a report on Wednesday, June 29th. Needham & Company LLC cut their price objective on shares of Cardlytics from $24.00 to $19.00 and set a “buy” rating for the company in a report on Wednesday. Finally, Craig Hallum cut shares of Cardlytics from a “buy” rating to a “hold” rating and cut their price objective for the company from $50.00 to $20.00 in a report on Tuesday, July 12th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $20.40.

Insider Buying and Selling at Cardlytics

In other news, insider Kirk Somers sold 1,000 shares of Cardlytics stock in a transaction dated Wednesday, June 22nd. The shares were sold at an average price of $25.05, for a total value of $25,050.00. Following the sale, the insider now owns 45,317 shares in the company, valued at $1,135,190.85. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director John V. Balen bought 5,000 shares of the company’s stock in a transaction dated Friday, May 27th. The shares were acquired at an average price of $27.40 per share, for a total transaction of $137,000.00. Following the completion of the transaction, the director now directly owns 41,798 shares in the company, valued at $1,145,265.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Kirk Somers sold 1,000 shares of Cardlytics stock in a transaction dated Wednesday, June 22nd. The shares were sold at an average price of $25.05, for a total transaction of $25,050.00. Following the completion of the sale, the insider now owns 45,317 shares in the company, valued at approximately $1,135,190.85. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,250 shares of company stock valued at $46,260. Corporate insiders own 3.70% of the company’s stock.

Institutional Trading of Cardlytics

Several institutional investors have recently modified their holdings of CDLX. State of New Jersey Common Pension Fund D boosted its position in Cardlytics by 15.6% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 39,117 shares of the company’s stock worth $2,585,000 after acquiring an additional 5,280 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Cardlytics by 21.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,117 shares of the company’s stock worth $272,000 after acquiring an additional 725 shares during the last quarter. Mutual of America Capital Management LLC boosted its position in Cardlytics by 33.2% during the fourth quarter. Mutual of America Capital Management LLC now owns 92,274 shares of the company’s stock worth $6,098,000 after acquiring an additional 23,000 shares during the last quarter. Full18 Capital LLC acquired a new position in Cardlytics during the fourth quarter worth about $297,000. Finally, SG Americas Securities LLC boosted its position in Cardlytics by 22.1% during the fourth quarter. SG Americas Securities LLC now owns 14,398 shares of the company’s stock worth $952,000 after acquiring an additional 2,602 shares during the last quarter. Institutional investors and hedge funds own 97.57% of the company’s stock.

Cardlytics Stock Up 6.8 %

The stock has a market capitalization of $548.91 million, a price-to-earnings ratio of -7.18 and a beta of 2.10. The business’s 50-day moving average is $21.10 and its two-hundred day moving average is $40.59. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.32.

Cardlytics (NASDAQ:CDLXGet Rating) last posted its quarterly earnings results on Monday, May 2nd. The company reported ($0.75) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.11) by $0.36. The firm had revenue of $67.93 million for the quarter, compared to analyst estimates of $65.84 million. Cardlytics had a negative net margin of 25.06% and a negative return on equity of 13.81%. During the same period in the previous year, the business posted ($0.59) earnings per share. Equities analysts anticipate that Cardlytics, Inc. will post -2.95 EPS for the current year.

About Cardlytics

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Cardlytics, Inc operates an advertising platform in the United States and the United Kingdom. It offers Cardlytics platform, a proprietary native bank advertising channel that enables marketers to reach customers through their network of financial institution partners through digital channels, such as online, mobile applications, email, and various real-time notifications; and Bridg platform, a customer data platform which utilizes 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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