Cardlytics (NASDAQ:CDLX) Downgraded by Needham & Company LLC

Needham & Company LLC lowered shares of Cardlytics (NASDAQ:CDLX) from a buy rating to a hold rating in a research note released on Thursday morning, Marketbeat reports.

A number of other research firms have also weighed in on CDLX. Craig Hallum cut their target price on shares of Cardlytics from $18.00 to $12.00 and set a buy rating on the stock in a research note on Thursday, May 9th. Bank of America reaffirmed a neutral rating and issued a $11.00 price target on shares of Cardlytics in a report on Thursday, June 20th. Northland Capmk raised Cardlytics to a strong-buy rating in a report on Tuesday, June 18th. Finally, Northland Securities began coverage on Cardlytics in a report on Tuesday, June 18th. They issued an outperform rating and a $14.00 price target for the company. Four equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $9.40.

Cardlytics Stock Up 27.7 %

CDLX stock opened at $3.78 on Thursday. The company’s 50 day moving average price is $8.14 and its 200 day moving average price is $9.58. The company has a debt-to-equity ratio of 1.30, a quick ratio of 2.13 and a current ratio of 2.13. Cardlytics has a fifty-two week low of $2.89 and a fifty-two week high of $20.52. The firm has a market capitalization of $184.40 million, a price-to-earnings ratio of -0.86 and a beta of 1.65.

Cardlytics (NASDAQ:CDLX) last released its earnings results on Wednesday, August 7th. The company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.12. Cardlytics had a negative net margin of 55.23% and a negative return on equity of 25.36%. The firm had revenue of $69.64 million for the quarter, compared to analyst estimates of $75.39 million. During the same period in the prior year, the firm earned ($0.57) earnings per share. The business’s quarterly revenue was down 9.2% compared to the same quarter last year. On average, equities research analysts anticipate that Cardlytics will post -1.8 EPS for the current fiscal year.

Insider Activity

In other news, CEO Karim Saad Temsamani sold 43,129 shares of the stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $8.65, for a total value of $373,065.85. Following the completion of the sale, the chief executive officer now directly owns 385,530 shares of the company’s stock, valued at $3,334,834.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Karim Saad Temsamani sold 43,129 shares of the stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $8.65, for a total value of $373,065.85. Following the completion of the sale, the chief executive officer now directly owns 385,530 shares of the company’s stock, valued at $3,334,834.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Nicholas Hollmeyer Lynton sold 5,956 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $7.95, for a total value of $47,350.20. Following the completion of the sale, the insider now directly owns 78,593 shares of the company’s stock, valued at $624,814.35. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 86,742 shares of company stock valued at $735,905. 4.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Cardlytics

Hedge funds have recently modified their holdings of the stock. Canton Hathaway LLC lifted its holdings in shares of Cardlytics by 95.7% during the second quarter. Canton Hathaway LLC now owns 4,500 shares of the company’s stock worth $37,000 after purchasing an additional 2,200 shares during the period. Banco Santander S.A. acquired a new stake in shares of Cardlytics during the first quarter worth $199,000. Quest Partners LLC lifted its holdings in shares of Cardlytics by 160.4% during the second quarter. Quest Partners LLC now owns 17,956 shares of the company’s stock worth $147,000 after purchasing an additional 11,061 shares during the period. SG Americas Securities LLC lifted its holdings in shares of Cardlytics by 34.3% during the fourth quarter. SG Americas Securities LLC now owns 21,461 shares of the company’s stock worth $198,000 after purchasing an additional 5,484 shares during the period. Finally, Clear Street Markets LLC acquired a new stake in shares of Cardlytics during the fourth quarter worth $199,000. 68.10% of the stock is owned by institutional investors and hedge funds.

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.