Cardlytics, Inc. (NASDAQ:CDLX) Receives $7.50 Consensus PT from Brokerages

Shares of Cardlytics, Inc. (NASDAQ:CDLX) have been assigned a consensus rating of “Reduce” from the six analysts that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $7.50.

Several equities research analysts recently weighed in on the stock. Needham & Company LLC cut shares of Cardlytics from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. Northland Securities lowered Cardlytics from an “outperform” rating to a “market perform” rating and cut their price target for the company from $7.00 to $5.00 in a research note on Friday, August 16th. Craig Hallum cut shares of Cardlytics from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. Lake Street Capital lowered shares of Cardlytics from a “buy” rating to a “hold” rating and decreased their price target for the company from $18.00 to $5.00 in a report on Thursday, August 8th. Finally, Bank of America downgraded shares of Cardlytics from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $4.00 to $3.50 in a report on Thursday, August 15th.

Cardlytics Stock Performance

CDLX opened at $3.49 on Monday. The business has a fifty day simple moving average of $6.42 and a 200-day simple moving average of $9.19. The firm has a market cap of $170.25 million, a PE ratio of -0.79 and a beta of 1.65. Cardlytics has a fifty-two week low of $2.89 and a fifty-two week high of $20.52. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 1.01.

Cardlytics (NASDAQ:CDLX) last issued its earnings results on Wednesday, August 7th. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.12. The company had revenue of $69.64 million for the quarter, compared to analyst estimates of $75.39 million. Cardlytics had a negative return on equity of 17.96% and a negative net margin of 50.21%. The business’s revenue was down 9.2% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.57) EPS. As a group, equities analysts predict that Cardlytics will post -1.72 EPS for the current fiscal year.

Insider Buying and Selling at Cardlytics

In other news, Director Scott A. Hill bought 40,000 shares of Cardlytics stock in a transaction dated Monday, August 12th. The stock was bought at an average cost of $3.58 per share, for a total transaction of $143,200.00. Following the purchase, the director now directly owns 40,000 shares in the company, valued at approximately $143,200. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Scott A. Hill acquired 40,000 shares of Cardlytics stock in a transaction on Monday, August 12th. The stock was acquired at an average cost of $3.58 per share, with a total value of $143,200.00. Following the transaction, the director now owns 40,000 shares of the company’s stock, valued at approximately $143,200. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Amit Gupta sold 22,699 shares of the business’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $8.66, for a total transaction of $196,573.34. Following the completion of the transaction, the chief operating officer now directly owns 150,569 shares in the company, valued at $1,303,927.54. The disclosure for this sale can be found here. In the last quarter, insiders have sold 43,613 shares of company stock worth $362,840. Insiders own 4.40% of the company’s stock.

Hedge Funds Weigh In On Cardlytics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Canton Hathaway LLC raised its position in shares of Cardlytics by 95.7% in the 2nd quarter. Canton Hathaway LLC now owns 4,500 shares of the company’s stock worth $37,000 after acquiring an additional 2,200 shares in the last quarter. XTX Topco Ltd bought a new position in Cardlytics during the second quarter valued at approximately $107,000. Banco Santander S.A. purchased a new position in shares of Cardlytics in the 1st quarter worth $199,000. Quest Partners LLC boosted its position in Cardlytics by 160.4% in the second quarter. Quest Partners LLC now owns 17,956 shares of the company’s stock worth $147,000 after purchasing an additional 11,061 shares during the last quarter. Finally, Clear Street Markets LLC purchased a new stake in Cardlytics during the fourth quarter valued at approximately $199,000. 68.10% of the stock is currently owned by hedge funds and other institutional investors.

About Cardlytics

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.