Zacks Investment Research upgraded shares of Cardlytics (NASDAQ:CDLX) from a hold rating to a buy rating in a research report sent to investors on Wednesday, Zacks.com reports. They currently have $31.00 target price 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 also recently weighed in on the company. ValuEngine upgraded Xylem from a hold rating to a buy rating in a research note on Tuesday, April 23rd. SunTrust Banks reissued a buy rating and issued a $25.00 price objective on shares of Cardlytics in a report on Tuesday, May 21st. William Blair assumed coverage on Cardlytics in a report on Monday, July 1st. They issued an outperform rating for the company. Finally, KeyCorp boosted their price objective on Harsco from $30.00 to $35.00 and gave the company an overweight rating in a report on Friday, May 10th. Nine equities research analysts have rated the stock with a buy rating, The stock presently has an average rating of Buy and a consensus price target of $24.00.
Cardlytics (NASDAQ:CDLX) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($0.30) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.61) by $0.31. The business had revenue of $35.99 million for 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 previous year, the business earned ($0.35) EPS. Analysts expect that Cardlytics will post -1.12 EPS for the current fiscal year.
In other Cardlytics news, Director Bryce Youngren sold 68,727 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $27.66, for a total transaction of $1,900,988.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Polaris Venture Management Co. sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $25.62, for a total value of $2,562,000.00. The disclosure for this sale can be found here. Insiders sold a total of 365,711 shares of company stock valued at $9,170,512 in the last ninety days. 21.90% of the stock is currently owned by insiders.
A number of large investors have recently bought and sold shares of CDLX. Frontier Capital Management Co. LLC grew its position in shares of Cardlytics by 11.5% in the first quarter. Frontier Capital Management Co. LLC now owns 1,631,248 shares of the company’s stock valued at $26,981,000 after purchasing an additional 168,471 shares in the last quarter. Penn Capital Management Co. Inc. purchased a new stake in shares of Cardlytics in the fourth quarter valued at approximately $1,665,000. Tygh Capital Management Inc. purchased a new stake in shares of Cardlytics in the first quarter valued at approximately $2,488,000. UBS Oconnor LLC purchased a new stake in shares of Cardlytics in the fourth quarter valued at approximately $1,624,000. Finally, FMR LLC grew its position in shares of Cardlytics by 2.3% in the first quarter. FMR LLC now owns 3,284,572 shares of the company’s stock valued at $54,327,000 after purchasing an additional 72,847 shares in the last quarter. Institutional investors own 73.51% of the company’s stock.
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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