Analysts Set Cardlytics, Inc. (NASDAQ:CDLX) Target Price at $7.50

Cardlytics, Inc. (NASDAQ:CDLX) has been given a consensus recommendation of “Reduce” by the six research firms that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating and five have issued a hold rating on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $7.50.

Several analysts recently weighed in on the company. Bank of America downgraded Cardlytics from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $4.00 to $3.50 in a research note on Thursday, August 15th. Lake Street Capital cut shares of Cardlytics from a “buy” rating to a “hold” rating and dropped their price target for the stock from $18.00 to $5.00 in a research note on Thursday, August 8th. Needham & Company LLC lowered shares of Cardlytics from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. Northland Securities downgraded shares of Cardlytics from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $7.00 to $5.00 in a research note on Friday, August 16th. Finally, Northland Capmk cut shares of Cardlytics from a “strong-buy” rating to a “hold” rating in a report on Friday, August 16th.

Cardlytics Stock Down 0.9 %

Shares of NASDAQ:CDLX opened at $3.26 on Friday. The firm has a market capitalization of $159.03 million, a P/E ratio of -0.74 and a beta of 1.68. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.77 and a current ratio of 1.77. The stock has a 50 day moving average price of $4.80 and a 200-day moving average price of $8.71. Cardlytics has a 52-week low of $2.89 and a 52-week high of $20.52.

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

Insider Activity

In other Cardlytics news, CFO Alexis Desieno sold 7,451 shares of the business’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $7.95, for a total transaction of $59,235.45. Following the completion of the sale, the chief financial officer now directly owns 6,898 shares in the company, valued at approximately $54,839.10. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Cardlytics news, Director Scott A. Hill bought 40,000 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was bought at an average cost of $3.58 per share, for a total transaction of $143,200.00. Following the completion of the transaction, the director now owns 40,000 shares of the company’s stock, valued at approximately $143,200. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Alexis Desieno sold 7,451 shares of the company’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $7.95, for a total transaction of $59,235.45. Following the sale, the chief financial officer now directly owns 6,898 shares of the company’s stock, valued at $54,839.10. The disclosure for this sale can be found here. Insiders have sold a total of 43,613 shares of company stock valued at $362,840 in the last 90 days. 4.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Cardlytics

A number of hedge funds have recently modified their holdings of CDLX. Renaissance Technologies LLC boosted its position in shares of Cardlytics by 711.9% in the second quarter. Renaissance Technologies LLC now owns 351,035 shares of the company’s stock worth $2,882,000 after purchasing an additional 307,800 shares during the period. Kent Lake Capital LLC bought a new position in Cardlytics in the 1st quarter worth $3,622,000. Perbak Capital Partners LLP purchased a new stake in Cardlytics in the 1st quarter worth $2,348,000. General Equity Holdings LP raised its holdings in Cardlytics by 31.0% during the fourth quarter. General Equity Holdings LP now owns 624,058 shares of the company’s stock valued at $5,748,000 after acquiring an additional 147,843 shares during the period. Finally, Blackstone Inc. purchased a new position in shares of Cardlytics in the first quarter valued at about $2,029,000. Institutional investors own 68.10% of the company’s stock.

About Cardlytics

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.