Cardlytics (NASDAQ:CDLX) Stock Rating Upgraded by Zacks Investment Research
Zacks Investment Research upgraded shares of Cardlytics (NASDAQ:CDLX) from a hold rating to a buy rating in a research note issued to investors on Monday morning, Zacks.com reports. They currently have $63.00 price objective on the stock.
According to Zacks, “Cardlytics, Inc. is engaged in developing a purchase intelligence platform. The purchase data includes debit, credit and bill pay data from online and in-store transactions. It helps the marketers identify, reach and influence likely buyers at scale, and measure the impact of marketing spends. The Company also operates an advertising channel, Cardlytics Direct. Cardlytics Direct delivers tailored marketing for marketers and financial institutions. Cardlytics, Inc. is based in ATLANTA, United States. “
Several other analysts have also weighed in on CDLX. Bank of America boosted their price objective on Cardlytics from $38.00 to $55.00 and gave the company a buy rating in a report on Wednesday, November 13th. SunTrust Banks boosted their price objective on Cardlytics from $25.00 to $35.00 and gave the company a buy rating in a report on Friday, August 9th. ValuEngine lowered Cardlytics from a hold rating to a sell rating in a report on Wednesday, October 2nd. Raymond James boosted their price objective on Cardlytics from $40.00 to $53.00 and gave the company an outperform rating in a report on Wednesday, November 13th. Finally, Wells Fargo & Co boosted their price objective on Cardlytics from $40.00 to $46.00 and gave the company an outperform rating in a report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $48.00.
Cardlytics (NASDAQ:CDLX) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $0.03 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.28) by $0.31. The firm had revenue of $56.42 million during the quarter, compared to analyst estimates of $50.02 million. Cardlytics had a negative return on equity of 44.53% and a negative net margin of 17.01%. Cardlytics’s quarterly revenue was up 63.2% on a year-over-year basis. During the same period in the previous year, the company earned ($0.15) earnings per share. As a group, equities research analysts forecast that Cardlytics will post -1.01 EPS for the current fiscal year.
In other Cardlytics news, CFO David Thomas Evans sold 3,000 shares of Cardlytics stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $57.12, for a total value of $171,360.00. Following the completion of the transaction, the chief financial officer now directly owns 36,565 shares in the company, valued at $2,088,592.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Aimia Inc. sold 1,500,000 shares of Cardlytics stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $29.95, for a total value of $44,925,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders acquired 316,475 shares of company stock valued at $11,914,849 and sold 2,383,217 shares valued at $74,669,310. Insiders own 21.90% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Bank of Montreal Can boosted its stake in Cardlytics by 16,371.4% in the second quarter. Bank of Montreal Can now owns 1,153 shares of the company’s stock valued at $30,000 after acquiring an additional 1,146 shares during the period. Oppenheimer Asset Management Inc. acquired a new position in Cardlytics in the second quarter valued at approximately $60,000. Rockefeller Capital Management L.P. acquired a new position in Cardlytics in the second quarter valued at approximately $85,000. Tower Research Capital LLC TRC boosted its stake in Cardlytics by 35.0% in the third quarter. Tower Research Capital LLC TRC now owns 4,079 shares of the company’s stock valued at $137,000 after acquiring an additional 1,057 shares during the period. Finally, Acadian Asset Management LLC acquired a new position in Cardlytics in the second quarter valued at approximately $161,000. Institutional investors own 82.08% of the company’s stock.
Cardlytics Company Profile
Cardlytics, Inc operates a purchase intelligence platform in the United States and the United Kingdom. It operates in two segments, Cardlytics Direct and Other Platform Solutions. The company's platform is the Cardlytics Direct solution, a proprietary native bank advertising channel that enables marketers to reach consumers through their trusted and frequently visited online and mobile banking channels.
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