Cardlytics (NASDAQ:CDLX) Stock Gets Price Target Reduction from Lake Street Capital

Cardlytics (NASDAQ:CDLX) had its price objective cut by Lake Street Capital from $4.00 to $2.00 in a research report released on Friday morning,Benzinga reports. The brokerage currently has a hold rating on the stock.

CDLX has been the topic of several other reports. Wall Street Zen lowered Cardlytics from a “hold” rating to a “sell” rating in a research report on Saturday, September 19th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cardlytics in a report on Friday, October 2nd. Two investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Cardlytics presently has an average rating of “Reduce” and a consensus target price of $6.00.

Cardlytics Price Performance

Shares of CDLX stock opened at $1.95 on Friday. The company has a market cap of $11.33 million, a P/E ratio of -0.30 and a beta of 0.79. The business has a 50 day moving average of $2.81 and a two-hundred day moving average of $5.97. Cardlytics has a 52 week low of $1.57 and a 52 week high of $15.55.

Cardlytics (NASDAQ:CDLX) last announced its quarterly earnings results on Thursday, November 5th. The company reported ($1.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.93) by $0.90. Cardlytics had a negative return on equity of 956.56% and a negative net margin of 22.82%. The business had revenue of $32.88 million for the quarter, compared to analysts’ expectations of $36.35 million. Analysts expect that Cardlytics will post -3.89 EPS for the current fiscal year.

Insider Activity

In related news, CEO Amit Gupta sold 10,351 shares of the stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $2.71, for a total value of $28,051.21. Following the completion of the transaction, the chief executive officer directly owned 146,288 shares of the company’s stock, valued at $396,440.48. This represents a 6.61% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders sold 31,194 shares of company stock worth $100,568 in the last three months. Insiders own 5.90% of the company’s stock.

Institutional Trading of Cardlytics

A hedge fund recently bought a new position in Cardlytics stock. Worldly Partners Management LLC purchased a new position in Cardlytics, Inc. (NASDAQ:CDLX) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 115,798 shares of the company’s stock, valued at approximately $520,000. Cardlytics makes up 0.4% of Worldly Partners Management LLC’s investment portfolio, making the stock its 3rd biggest holding. Worldly Partners Management LLC owned 1.99% of Cardlytics as of its most recent filing with the Securities & Exchange Commission. Institutional investors own 68.10% of the company’s stock.

Cardlytics Company Profile

Cardlytics, Inc is a financial technology and advertising company that operates a marketing platform through banks and other financial institutions. Its technology connects consumers with targeted merchant offers based on transaction data, while providing advertisers with a way to reach customers through digital banking applications and other financial channels.

The company’s platform supports merchant-funded rewards, cash-back promotions and purchase-based advertising. Participating consumers can receive offers from retailers, restaurants, travel providers and other businesses, while advertisers can use Cardlytics’ data and measurement tools to target audiences and evaluate whether campaigns lead to purchases.

Cardlytics was founded in 2008 by Scott Grimes and Lynne Laube and is headquartered in Atlanta, Georgia.