Cardlytics (NASDAQ:CDLX) had its target price hoisted by investment analysts at Craig Hallum from $75.00 to $100.00 in a research report issued to clients and investors on Tuesday, The Fly reports. The brokerage presently has a “buy” rating on the stock. Craig Hallum’s price objective suggests a potential upside of 18.16% from the company’s previous close.
Several other equities analysts have also weighed in on CDLX. JPMorgan Chase & Co. lowered shares of Cardlytics from an “overweight” rating to a “neutral” rating and set a $58.00 target price on the stock. in a report 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 report on Wednesday, October 2nd. Raymond James lifted their target price on shares of Cardlytics from $40.00 to $53.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Finally, Zacks Investment Research lowered shares of Cardlytics from a “buy” rating to a “hold” rating in a report on Thursday, December 5th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $62.14.
Shares of NASDAQ:CDLX traded up $0.73 during midday trading on Tuesday, hitting $84.63. 3,808 shares of the company’s stock traded hands, compared to its average volume of 395,109. The company has a market cap of $2.00 billion, a PE ratio of -39.30 and a beta of 1.72. The firm’s fifty day moving average price is $62.93 and its two-hundred day moving average price is $42.66. Cardlytics has a twelve month low of $14.14 and a twelve month high of $90.50.
Cardlytics (NASDAQ:CDLX) last posted its earnings results on Tuesday, November 12th. The company reported $0.03 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.28) by $0.31. The business had revenue of $56.42 million for the quarter, compared to analyst estimates of $50.02 million. Cardlytics had a negative net margin of 17.01% and a negative return on equity of 44.53%. The business’s quarterly revenue was up 63.2% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.15) EPS. On average, equities research analysts forecast that Cardlytics will post -1.02 EPS for the current fiscal year.
In other news, major shareholder Clifford Sosin purchased 16,106 shares of the company’s stock in a transaction that occurred on Friday, October 18th. The shares were purchased at an average price of $37.34 per share, with a total value of $601,398.04. Also, CEO Scott D. Grimes sold 1,000 shares of Cardlytics stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $66.61, for a total transaction of $66,610.00. The disclosure for this sale can be found here. In the last ninety days, insiders have purchased 125,155 shares of company stock worth $4,928,870 and have sold 419,444 shares worth $23,876,049. Insiders own 21.90% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in shares of Cardlytics by 94.2% in the 2nd quarter. BlackRock Inc. now owns 903,619 shares of the company’s stock worth $23,476,000 after purchasing an additional 438,215 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Cardlytics by 46.1% in the 2nd quarter. Vanguard Group Inc. now owns 755,132 shares of the company’s stock worth $19,618,000 after purchasing an additional 238,211 shares during the last quarter. JS Capital Management LLC bought a new stake in shares of Cardlytics in the 3rd quarter worth about $4,190,000. Hancock Whitney Corp bought a new stake in shares of Cardlytics in the 3rd quarter worth about $3,757,000. Finally, Kornitzer Capital Management Inc. KS increased its position in shares of Cardlytics by 94.0% in the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 185,105 shares of the company’s stock worth $6,205,000 after purchasing an additional 89,705 shares during the last quarter. 93.17% of the stock is currently owned by hedge funds and other institutional investors.
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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