Cardlytics (NASDAQ:CDLX)‘s stock had its “buy” rating reaffirmed by equities research analysts at SunTrust Banks in a research report issued to clients and investors on Tuesday, May 21st, AnalystRatings.com reports. They currently have a $25.00 price target on the stock. SunTrust Banks’ target price would suggest a potential upside of 0.12% from the stock’s previous close.
The analysts wrote, “We hosted Cardlytics’ CEO and Co-Founder, Scott Grimes, and COO and Co- Founder, Lynne Laube, at our 6th annual internet and digital media conference for a fireside chat.””
CDLX has been the subject of several other research reports. Zacks Investment Research raised shares of Cardlytics from a “hold” rating to a “buy” rating and set a $21.00 target price for the company in a report on Wednesday, March 6th. ValuEngine downgraded shares of Cardlytics from a “strong-buy” rating to a “buy” rating in a report on Tuesday, April 23rd. Finally, KeyCorp lifted their target price on shares of Cardlytics from $25.00 to $26.00 and gave the stock an “overweight” rating in a report on Friday, May 10th. Eight research analysts have rated the stock with a buy rating, The company presently has an average rating of “Buy” and an average target price of $22.71.
Shares of CDLX stock traded down $0.08 during midday trading on Tuesday, hitting $24.97. 224 shares of the company were exchanged, compared to its average volume of 302,402. The company has a market capitalization of $566.27 million, a price-to-earnings ratio of -11.71 and a beta of 1.82. The company has a debt-to-equity ratio of 0.99, a quick ratio of 2.37 and a current ratio of 2.37. Cardlytics has a 52 week low of $9.80 and a 52 week high of $28.29.
Cardlytics (NASDAQ:CDLX) last announced its earnings results on Thursday, May 9th. The company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.61) by $0.31. The business had revenue of $35.99 million during the quarter, compared to the consensus estimate of $36.11 million. Cardlytics had a negative net margin of 25.53% and a negative return on equity of 84.02%. Cardlytics’s revenue was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.35) EPS. Sell-side analysts forecast that Cardlytics will post -1.21 EPS for the current year.
In other news, CFO David Thomas Evans sold 2,505 shares of the business’s stock in a transaction that occurred on Friday, March 29th. The shares were sold at an average price of $16.21, for a total value of $40,606.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Bryce Youngren sold 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $23.04, for a total transaction of $2,304,000.00. The disclosure for this sale can be found here. Insiders sold a total of 294,817 shares of company stock valued at $6,987,786 in the last quarter.
Hedge funds have recently added to or reduced their stakes in the stock. New York State Common Retirement Fund increased its position in Cardlytics by 80.0% during the 4th quarter. New York State Common Retirement Fund now owns 9,000 shares of the company’s stock worth $97,000 after purchasing an additional 4,000 shares in the last quarter. First Mercantile Trust Co. increased its position in Cardlytics by 115.0% during the 4th quarter. First Mercantile Trust Co. now owns 12,893 shares of the company’s stock worth $140,000 after purchasing an additional 6,897 shares in the last quarter. ExodusPoint Capital Management LP acquired a new position in Cardlytics during the 1st quarter worth approximately $185,000. Wells Fargo & Company MN increased its position in Cardlytics by 72.4% during the 3rd quarter. Wells Fargo & Company MN now owns 8,004 shares of the company’s stock worth $201,000 after purchasing an additional 3,361 shares in the last quarter. Finally, TIAA CREF Investment Management LLC acquired a new position in Cardlytics during the 3rd quarter worth approximately $202,000. Institutional investors and hedge funds own 73.51% of the company’s stock.
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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