Cardlytics (CDLX) Raised to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Cardlytics (NASDAQ:CDLX) from a sell rating to a hold rating in a report issued on Tuesday, Zacks.com reports.

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 equities research analysts also recently issued reports on the company. Bank of America upgraded Cardlytics from a neutral rating to a buy rating and set a $15.00 price target for the company in a report on Tuesday, January 15th. SunTrust Banks reiterated a buy rating and set a $25.00 price target on shares of Cardlytics in a report on Wednesday, March 6th. Finally, ValuEngine downgraded Cardlytics from a strong-buy rating to a buy rating in a report on Tuesday, April 23rd. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Cardlytics presently has a consensus rating of Buy and a consensus target price of $22.57.

Shares of Cardlytics stock opened at $21.25 on Tuesday. Cardlytics has a 12-month low of $9.80 and a 12-month high of $28.29. The company has a current ratio of 2.40, a quick ratio of 2.40 and a debt-to-equity ratio of 0.90.

Cardlytics (NASDAQ:CDLX) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.61) by $0.31. Cardlytics had a negative return on equity of 84.26% and a negative net margin of 25.53%. The business had revenue of $35.99 million during the quarter, compared to the consensus estimate of $36.11 million. During the same quarter in the prior year, the company posted ($0.35) earnings per share. Cardlytics’s revenue was up 10.0% compared to the same quarter last year. On average, equities analysts expect that Cardlytics will post -2.06 EPS for the current year.

In other Cardlytics news, CFO David Thomas Evans sold 2,634 shares of the business’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $15.42, for a total value of $40,616.28. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Kirk Somers sold 2,591 shares of the business’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $15.67, for a total value of $40,600.97. The disclosure for this sale can be found here. In the last three months, insiders sold 22,087 shares of company stock worth $348,050.

A number of hedge funds have recently bought and sold shares of the business. FMR LLC boosted its position in Cardlytics by 0.5% in the fourth quarter. FMR LLC now owns 3,211,725 shares of the company’s stock worth $34,783,000 after purchasing an additional 17,153 shares during the last quarter. Canaan Partners VIII LLC purchased a new position in Cardlytics in the fourth quarter worth $25,647,000. Frontier Capital Management Co. LLC boosted its position in Cardlytics by 11.5% in the first quarter. Frontier Capital Management Co. LLC now owns 1,631,248 shares of the company’s stock worth $26,981,000 after purchasing an additional 168,471 shares during the last quarter. Jennison Associates LLC boosted its position in Cardlytics by 58.3% in the fourth quarter. Jennison Associates LLC now owns 1,264,354 shares of the company’s stock worth $13,693,000 after purchasing an additional 465,855 shares during the last quarter. Finally, Cannell Capital LLC purchased a new position in Cardlytics in the fourth quarter worth $5,491,000. 80.90% of the stock is currently owned by institutional investors and hedge funds.

About Cardlytics

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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