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 report released on Wednesday,Zacks.com reports.

A number of other equities analysts have also recently weighed in on the stock. Bank of America cut shares of Cardlytics from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $4.00 to $3.50 in a research report on Thursday, August 15th. Northland Capmk downgraded Cardlytics from a “strong-buy” rating to a “hold” rating in a report on Friday, August 16th. Evercore ISI began coverage on Cardlytics in a report on Friday, October 11th. They set an “in-line” rating and a $4.00 price objective on the stock. Needham & Company LLC reissued a “hold” rating on shares of Cardlytics in a research note on Thursday. Finally, Lake Street Capital lowered shares of Cardlytics from a “buy” rating to a “hold” rating and cut their price target for the company from $18.00 to $5.00 in a research note on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $6.92.

Cardlytics Price Performance

Shares of Cardlytics stock traded up $0.47 during midday trading on Wednesday, hitting $4.54. 894,077 shares of the company were exchanged, compared to its average volume of 1,238,329. Cardlytics has a 52 week low of $2.89 and a 52 week high of $20.52. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.77 and a quick ratio of 1.77. The firm has a 50 day simple moving average of $3.68 and a 200-day simple moving average of $6.76. The firm has a market cap of $226.27 million, a P/E ratio of -1.21 and a beta of 1.61.

Cardlytics (NASDAQ:CDLX) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.09) EPS 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 analyst estimates 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% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.57) EPS. Research analysts forecast that Cardlytics will post -1.72 earnings per share for the current year.

Insider Buying and Selling at Cardlytics

In related news, CEO Amit Gupta sold 22,607 shares of the business’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $3.85, for a total transaction of $87,036.95. Following the completion of 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Scott A. Hill bought 40,000 shares of the stock in a transaction dated Monday, August 12th. The stock was purchased at an average price of $3.58 per share, for a total transaction of $143,200.00. Following the acquisition, the director now owns 40,000 shares of the company’s stock, valued at $143,200. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Amit Gupta sold 22,607 shares of the business’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $3.85, for a total value of $87,036.95. Following the transaction, the chief executive officer now owns 178,519 shares of the company’s stock, valued at $687,298.15. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 43,573 shares of company stock worth $151,612. Company insiders own 4.40% of the company’s stock.

Institutional Investors Weigh In On Cardlytics

Institutional investors and hedge funds have recently bought and sold shares of the company. ClariVest Asset Management LLC purchased a new stake in shares of Cardlytics in the 1st quarter worth approximately $707,000. Susquehanna Fundamental Investments LLC increased its holdings in shares of Cardlytics by 13.8% in the 1st quarter. Susquehanna Fundamental Investments LLC now owns 31,536 shares of the company’s stock valued at $457,000 after acquiring an additional 3,836 shares during the period. Banco Santander S.A. bought a new position in shares of Cardlytics in the 1st quarter worth $199,000. Vanguard Group Inc. lifted its stake in shares of Cardlytics by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 2,211,595 shares of the company’s stock worth $32,046,000 after purchasing an additional 57,805 shares during the last quarter. Finally, Quadrature Capital Ltd purchased a new stake in shares of Cardlytics during the 1st quarter worth $1,906,000. 68.10% of the stock is owned by institutional investors.

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.