Bank of America Reaffirms Average Rating for Cardlytics (NASDAQ:CDLX)

Cardlytics (NASDAQ:CDLX)‘s stock had its “average” rating restated by investment analysts at Bank of America in a research report issued to clients and investors on Tuesday, AnalystRatings.com reports. They presently have a $100.00 price objective on the stock. Bank of America‘s target price suggests a potential upside of 18.16% from the company’s current price.

Several other research analysts have also weighed in on the stock. JPMorgan Chase & Co. lowered shares of Cardlytics from an “overweight” rating to a “neutral” rating and set a $58.00 price objective on the stock. in a research note on Thursday, November 14th. They noted that the move was a valuation call. ValuEngine lowered shares of Cardlytics from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. Zacks Investment Research lowered shares of Cardlytics from a “buy” rating to a “hold” rating in a research note on Thursday, December 5th. Craig Hallum lifted their price objective on shares of Cardlytics from $75.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Raymond James lifted their price target on shares of Cardlytics from $40.00 to $53.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $62.14.

Cardlytics stock traded up $0.73 during midday trading on Tuesday, hitting $84.63. 3,808 shares of the stock were exchanged, compared to its average volume of 395,109. The company has a fifty day simple moving average of $62.93 and a two-hundred day simple moving average of $42.66. Cardlytics has a 52 week low of $14.14 and a 52 week high of $90.50. The stock has a market capitalization of $2.00 billion, a PE ratio of -39.30 and a beta of 1.72.

Cardlytics (NASDAQ:CDLX) last released its quarterly earnings data on Tuesday, November 12th. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate of ($0.28) by $0.31. Cardlytics had a negative net margin of 17.01% and a negative return on equity of 44.53%. The business had revenue of $56.42 million for the quarter, compared to analyst estimates of $50.02 million. During the same quarter last year, the firm earned ($0.15) EPS. Cardlytics’s quarterly revenue was up 63.2% compared to the same quarter last year. On average, research analysts forecast that Cardlytics will post -1.02 EPS for the current fiscal year.

In other Cardlytics news, insider Kirk Somers sold 1,500 shares of Cardlytics stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $37.95, for a total value of $56,925.00. Also, major shareholder Clifford Sosin purchased 16,106 shares of the business’s stock in a transaction on Friday, October 18th. The stock was bought at an average cost of $37.34 per share, for a total transaction of $601,398.04. In the last ninety days, insiders acquired 125,155 shares of company stock worth $4,928,870 and sold 419,444 shares worth $23,876,049. Insiders own 21.90% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. Bank of Montreal Can lifted 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 buying an additional 1,146 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of 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 purchasing an additional 1,057 shares during the last quarter. Metropolitan Life Insurance Co NY acquired a new stake in shares of Cardlytics in the third quarter valued at approximately $161,000. Capital Investment Advisors LLC acquired a new stake in shares of Cardlytics in the third quarter valued at approximately $253,000. Finally, Royal Bank of Canada raised its holdings in shares of Cardlytics by 166.5% in the second quarter. Royal Bank of Canada now owns 10,643 shares of the company’s stock valued at $276,000 after purchasing an additional 6,649 shares during the last quarter. 93.17% of the stock is currently owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Cardlytics (NASDAQ:CDLX)

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