Cardlytics (NASDAQ:CDLX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday, Zacks.com reports. The brokerage presently has a $31.00 price objective on the stock. Zacks Investment Research‘s price objective suggests a potential upside of 12.32% from the company’s current price.
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. “
Other analysts have also issued research reports about the company. SunTrust Banks restated a “buy” rating and issued a $25.00 target price on shares of Cardlytics in a report on Tuesday, May 21st. ValuEngine upgraded Xylem from a “hold” rating to a “buy” rating in a report on Tuesday, April 23rd. William Blair assumed coverage on Cardlytics in a report on Monday, July 1st. They issued an “outperform” rating for the company. Finally, KeyCorp increased their target price on Harsco from $30.00 to $35.00 and gave the company an “overweight” rating in a report on Friday, May 10th. Nine research analysts have rated the stock with a buy rating, The stock currently has an average rating of “Buy” and a consensus price target of $24.00.
Shares of NASDAQ:CDLX traded down $0.05 on Wednesday, reaching $27.60. 180,200 shares of the company traded hands, compared to its average volume of 238,230. Cardlytics has a fifty-two week low of $9.80 and a fifty-two week high of $30.38. The firm has a 50 day simple moving average of $25.79. The stock has a market cap of $624.05 million, a PE ratio of -12.90 and a beta of 1.75. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.37 and a quick ratio of 2.37.
Cardlytics (NASDAQ:CDLX) last announced its quarterly earnings data on Thursday, May 9th. The company reported ($0.30) EPS for the quarter, beating analysts’ consensus estimates of ($0.61) by $0.31. The company had revenue of $35.99 million during the quarter, compared to the consensus estimate of $36.11 million. Cardlytics had a negative return on equity of 84.02% and a negative net margin of 25.53%. The company’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.35) EPS. As a group, research analysts forecast that Cardlytics will post -1.12 earnings per share for the current fiscal year.
In related news, CFO David Thomas Evans sold 1,500 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $28.14, for a total transaction of $42,210.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Scott D. Grimes sold 4,000 shares of the stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $23.76, for a total value of $95,040.00. The disclosure for this sale can be found here. Insiders sold 296,984 shares of company stock valued at $7,269,524 in the last 90 days. Corporate insiders own 21.90% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. FMR LLC raised its holdings in shares of Cardlytics by 2.3% during the first quarter. FMR LLC now owns 3,284,572 shares of the company’s stock worth $54,327,000 after acquiring an additional 72,847 shares in the last quarter. Frontier Capital Management Co. LLC raised its holdings in shares of Cardlytics by 11.5% during the first quarter. Frontier Capital Management Co. LLC now owns 1,631,248 shares of the company’s stock worth $26,981,000 after acquiring an additional 168,471 shares in the last quarter. BlackRock Inc. increased its position in Cardlytics by 0.4% during the fourth quarter. BlackRock Inc. now owns 422,718 shares of the company’s stock worth $4,578,000 after buying an additional 1,610 shares during the last quarter. Bank of America Corp DE increased its position in Cardlytics by 0.9% during the fourth quarter. Bank of America Corp DE now owns 270,025 shares of the company’s stock worth $2,924,000 after buying an additional 2,471 shares during the last quarter. Finally, Penn Capital Management Co. Inc. increased its position in Cardlytics by 24.0% during the first quarter. Penn Capital Management Co. Inc. now owns 190,606 shares of the company’s stock worth $3,153,000 after buying an additional 36,830 shares during the last quarter. Institutional investors and hedge funds own 73.51% 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.
See Also: Leveraged Buyout (LBO)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Cardlytics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cardlytics and related companies with MarketBeat.com's FREE daily email newsletter.