Needham & Company LLC Trims Cardlytics (NASDAQ:CDLX) Target Price to $12.00

Cardlytics (NASDAQ:CDLX) had its target price cut by analysts at Needham & Company LLC from $17.00 to $12.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s price target points to a potential downside of 17.81% from the company’s current price.

A number of other analysts have also recently issued reports on CDLX. Lake Street Capital boosted their target price on Cardlytics from $13.00 to $18.00 and gave the stock a “buy” rating in a report on Friday, March 15th. Craig Hallum upgraded shares of Cardlytics from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $10.00 to $18.00 in a research note on Friday, March 15th.

Cardlytics Trading Down 5.3 %

NASDAQ CDLX opened at $14.60 on Thursday. The company has a 50-day moving average of $12.51 and a 200-day moving average of $9.74. The company has a debt-to-equity ratio of 1.91, a current ratio of 1.31 and a quick ratio of 1.31. Cardlytics has a 12 month low of $4.94 and a 12 month high of $20.52. The company has a market cap of $703.34 million, a P/E ratio of -4.22 and a beta of 1.50.

Cardlytics (NASDAQ:CDLX) last posted its quarterly earnings results on Thursday, March 14th. The company reported ($0.14) earnings per share for the quarter. The company had revenue of $89.17 million for the quarter. Cardlytics had a negative return on equity of 25.38% and a negative net margin of 43.56%.

Insider Activity at Cardlytics

In related news, major shareholder Clifford Sosin purchased 311,715 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was purchased at an average price of $13.71 per share, for a total transaction of $4,273,612.65. Following the acquisition, the insider now directly owns 5,673,676 shares in the company, valued at $77,786,097.96. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Cardlytics news, insider Nicholas Hollmeyer Lynton sold 12,460 shares of Cardlytics stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $13.69, for a total transaction of $170,577.40. Following the sale, the insider now directly owns 71,355 shares in the company, valued at approximately $976,849.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Clifford Sosin bought 311,715 shares of Cardlytics stock in a transaction dated Friday, March 15th. The shares were acquired at an average price of $13.71 per share, with a total value of $4,273,612.65. Following the completion of the purchase, the insider now owns 5,673,676 shares in the company, valued at approximately $77,786,097.96. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 36,306 shares of company stock worth $455,203. 4.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CDLX. Tower Research Capital LLC TRC raised its stake in shares of Cardlytics by 349.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 9,602 shares of the company’s stock valued at $88,000 after purchasing an additional 7,465 shares in the last quarter. D L Carlson Investment Group Inc. bought a new stake in Cardlytics in the third quarter valued at about $173,000. SG Americas Securities LLC raised its stake in Cardlytics by 34.3% during the fourth quarter. SG Americas Securities LLC now owns 21,461 shares of the company’s stock valued at $198,000 after buying an additional 5,484 shares in the last quarter. Clear Street Markets LLC bought a new position in Cardlytics during the 4th quarter worth approximately $199,000. Finally, Check Capital Management Inc. CA grew its position in shares of Cardlytics by 14.0% in the 4th quarter. Check Capital Management Inc. CA now owns 23,200 shares of the company’s stock worth $214,000 after acquiring an additional 2,850 shares in the last quarter. 68.10% of the stock is currently owned by institutional investors.

About Cardlytics

Cardlytics, Inc operates an advertising platform in the United States and the United Kingdom. It offers Cardlytics platform, a proprietary native bank advertising channel that enables marketers to reach customers through their network of financial institution partners through digital channels, such as online, mobile applications, email, and various real-time notifications; and Bridg platform, a customer data platform which utilizes point-of-sale data and enables marketers to perform analytics and targeted loyalty marketing, as well as measure the impact of their marketing.