Cardlytics (CDLX) Upgraded at Zacks Investment Research

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Cardlytics (NASDAQ:CDLX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Wednesday, September 19th.

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. “

CDLX has been the topic of a number of other reports. KeyCorp cut their price objective on shares of Cardlytics from $30.00 to $28.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 15th. Bank of America restated a “hold” rating and set a $22.00 price objective on shares of Cardlytics in a research note on Friday, August 17th. Finally, SunTrust Banks restated a “buy” rating and set a $27.00 price objective on shares of Cardlytics in a research note on Tuesday, September 11th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. Cardlytics presently has an average rating of “Buy” and an average price target of $24.40.

Shares of NASDAQ CDLX traded down $0.38 during midday trading on Wednesday, reaching $20.03. 133,568 shares of the company traded hands, compared to its average volume of 176,959. Cardlytics has a 52 week low of $11.10 and a 52 week high of $28.29. The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 1.29. The stock has a market cap of $507.41 million and a P/E ratio of -2.50.

Cardlytics (NASDAQ:CDLX) last issued its quarterly earnings data on Tuesday, August 14th. The company reported ($0.21) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.53) by $0.32. The company had revenue of $35.57 million for the quarter, compared to the consensus estimate of $34.89 million. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Cardlytics will post -2.39 earnings per share for the current fiscal year.

In related news, COO Lynne Marie Laube sold 1,349 shares of Cardlytics stock in a transaction dated Friday, August 17th. The stock was sold at an average price of $20.66, for a total transaction of $27,870.34. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Polaris Venture Management Co. sold 150,000 shares of Cardlytics stock in a transaction dated Thursday, September 13th. The stock was sold at an average price of $25.04, for a total value of $3,756,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 155,194 shares of company stock worth $3,863,308.

Institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. purchased a new position in Cardlytics in the 1st quarter worth about $3,420,000. Russell Investments Group Ltd. purchased a new position in Cardlytics in the 1st quarter worth about $395,000. Federated Investors Inc. PA purchased a new position in Cardlytics in the 1st quarter worth about $5,852,000. Penn Capital Management Co. Inc. purchased a new position in Cardlytics in the 1st quarter worth about $695,000. Finally, Landscape Capital Management L.L.C. purchased a new position in Cardlytics in the 1st quarter worth about $666,000. 49.66% of the stock is currently owned by hedge funds and other institutional investors.

Cardlytics Company Profile

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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