Cardlytics (NASDAQ:CDLX) Hits New 52-Week High at $60.00

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Cardlytics Inc (NASDAQ:CDLX) reached a new 52-week high on Monday . The stock traded as high as $60.00 and last traded at $60.00, with a volume of 29877 shares trading hands. The stock had previously closed at $56.05.

CDLX has been the subject of a number of recent research reports. Raymond James lifted their target price on Cardlytics from $40.00 to $53.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. ValuEngine cut Cardlytics from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. JPMorgan Chase & Co. cut Cardlytics from an “overweight” rating to a “neutral” rating and set a $58.00 target price for the company. in a report on Thursday, November 14th. They noted that the move was a valuation call. Craig Hallum initiated coverage on Cardlytics in a report on Monday. They issued a “buy” rating for the company. Finally, SunTrust Banks lifted their target price on Cardlytics from $25.00 to $35.00 and gave the stock a “buy” rating in a report on Friday, August 9th. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $44.50.

The stock has a fifty day moving average of $45.03 and a 200-day moving average of $33.23. The company has a market cap of $1.28 billion, a PE ratio of -27.97 and a beta of 1.71.

Cardlytics (NASDAQ:CDLX) last posted its quarterly earnings data on Tuesday, November 12th. The company reported $0.03 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.28) by $0.31. Cardlytics had a negative return on equity of 44.53% and a negative net margin of 17.01%. The company had revenue of $56.42 million during the quarter, compared to analysts’ expectations of $50.02 million. During the same quarter in the previous year, the business earned ($0.15) EPS. Cardlytics’s revenue was up 63.2% compared to the same quarter last year. As a group, equities analysts predict that Cardlytics Inc will post -1.01 EPS for the current fiscal year.

In other news, major shareholder Clifford Sosin bought 73,578 shares of the firm’s stock in a transaction on Wednesday, October 9th. The stock was acquired at an average cost of $34.78 per share, with a total value of $2,559,042.84. Also, CFO David Thomas Evans sold 21,281 shares of Cardlytics stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $55.98, for a total value of $1,191,310.38. Following the sale, the chief financial officer now directly owns 48,440 shares of the company’s stock, valued at $2,711,671.20. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 316,475 shares of company stock valued at $11,914,849 and have sold 802,811 shares valued at $30,489,572. 21.90% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Marshall Wace LLP bought a new position in shares of Cardlytics in the 1st quarter worth $336,000. FMR LLC raised its position in shares of Cardlytics by 2.3% in the 1st quarter. FMR LLC now owns 3,284,572 shares of the company’s stock worth $54,327,000 after acquiring an additional 72,847 shares in the last quarter. Gamco Investors INC. ET AL raised its position in shares of Cardlytics by 2.6% in the 2nd quarter. Gamco Investors INC. ET AL now owns 15,850 shares of the company’s stock worth $412,000 after acquiring an additional 400 shares in the last quarter. Tygh Capital Management Inc. raised its position in shares of Cardlytics by 17.1% in the 2nd quarter. Tygh Capital Management Inc. now owns 176,237 shares of the company’s stock worth $4,579,000 after acquiring an additional 25,790 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Cardlytics by 177.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 199,301 shares of the company’s stock worth $4,901,000 after acquiring an additional 127,596 shares in the last quarter. 93.17% of the stock is owned by institutional investors and hedge funds.

About Cardlytics (NASDAQ:CDLX)

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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