Cardlytics (NASDAQ:CDLX) Upgraded by Craig Hallum to “Strong-Buy” Rating

Craig Hallum upgraded shares of Cardlytics (NASDAQ:CDLX) from a hold rating to a strong-buy rating in a research note issued to investors on Wednesday morning,Zacks.com reports.

Other equities research analysts also recently issued research reports about the company. Needham & Company LLC restated a “hold” rating on shares of Cardlytics in a report on Thursday. Northland Securities cut shares of Cardlytics from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $7.00 to $5.00 in a report on Friday, August 16th. Northland Capmk lowered shares of Cardlytics from a “strong-buy” rating to a “hold” rating in a report on Friday, August 16th. Evercore ISI started coverage on shares of Cardlytics in a research note on Friday, October 11th. They set an “in-line” rating and a $4.00 target price for the company. Finally, Lake Street Capital downgraded Cardlytics from a “buy” rating to a “hold” rating and decreased their price target for the stock from $18.00 to $5.00 in a report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $6.92.

Cardlytics Price Performance

CDLX traded up $0.47 during trading on Wednesday, reaching $4.54. The company’s stock had a trading volume of 894,077 shares, compared to its average volume of 1,238,329. Cardlytics has a 1 year low of $2.89 and a 1 year high of $20.52. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 1.01. The company has a market cap of $226.27 million, a price-to-earnings ratio of -1.21 and a beta of 1.61. The firm has a fifty day simple moving average of $3.68 and a two-hundred day simple moving average of $6.76.

Cardlytics (NASDAQ:CDLX) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.12. The business had revenue of $69.64 million during the quarter, compared to analysts’ expectations of $75.39 million. Cardlytics had a negative net margin of 50.21% and a negative return on equity of 17.96%. The business’s revenue for the quarter was down 9.2% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.57) EPS. As a group, analysts anticipate that Cardlytics will post -1.72 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Amit Gupta sold 22,607 shares of the stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $3.85, for a total transaction of $87,036.95. Following the transaction, the chief executive officer now owns 178,519 shares of the company’s stock, valued at approximately $687,298.15. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Cardlytics news, Director Scott A. Hill bought 40,000 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were purchased at an average cost of $3.58 per share, for a total transaction of $143,200.00. Following the transaction, the director now directly owns 40,000 shares in the company, valued at $143,200. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Amit Gupta sold 22,607 shares of the firm’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $3.85, for a total transaction of $87,036.95. Following the transaction, the chief executive officer now directly owns 178,519 shares in the company, valued at approximately $687,298.15. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 43,573 shares of company stock worth $151,612 in the last 90 days. 4.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Cardlytics

Several hedge funds have recently made changes to their positions in CDLX. Canton Hathaway LLC grew its holdings in shares of Cardlytics by 95.7% during the 2nd quarter. Canton Hathaway LLC now owns 4,500 shares of the company’s stock valued at $37,000 after acquiring an additional 2,200 shares in the last quarter. XTX Topco Ltd acquired a new position in Cardlytics in the 2nd quarter valued at $107,000. Banco Santander S.A. bought a new position in Cardlytics in the 1st quarter worth $199,000. SG Americas Securities LLC acquired a new position in Cardlytics during the 3rd quarter worth $45,000. Finally, Quest Partners LLC lifted its position in Cardlytics by 160.4% during the 2nd quarter. Quest Partners LLC now owns 17,956 shares of the company’s stock worth $147,000 after acquiring an additional 11,061 shares during the last quarter. Hedge funds and other institutional investors own 68.10% of the company’s stock.

Cardlytics Company Profile

Cardlytics, Inc operates an advertising platform in the United States and the United Kingdom. It offers Cardlytics platform, a proprietary native bank advertising channel that enables marketers to reach customers through their network of financial institution partners through digital channels, such as online, mobile applications, email, and various real-time notifications; and Bridg platform, a customer data platform which utilizes point-of-sale data and enables marketers to perform analytics and targeted loyalty marketing, as well as measure the impact of their marketing.