Cardlytics (NASDAQ:CDLX) Rating Lowered to Underperform at Bank of America

Bank of America lowered shares of Cardlytics (NASDAQ:CDLX) from a neutral rating to an underperform rating in a research report released on Thursday, Marketbeat reports. They currently have $3.50 price target on the stock, down from their previous price target of $4.00.

CDLX has been the subject of a number of other reports. Craig Hallum cut Cardlytics from a buy rating to a hold rating in a research note on Thursday, August 8th. Needham & Company LLC cut shares of Cardlytics from a buy rating to a hold rating in a research note on Thursday, August 8th. Lake Street Capital lowered shares of Cardlytics from a buy rating to a hold rating and cut their price target for the company from $18.00 to $5.00 in a research note on Thursday, August 8th. Northland Capmk upgraded shares of Cardlytics to a strong-buy rating in a research note on Tuesday, June 18th. Finally, Northland Securities cut their target price on Cardlytics from $14.00 to $7.00 and set an outperform rating on the stock in a research report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Hold and an average price target of $7.50.

Cardlytics Stock Down 1.9 %

Shares of NASDAQ CDLX opened at $3.68 on Thursday. Cardlytics has a 12-month low of $2.89 and a 12-month high of $20.52. The stock’s fifty day simple moving average is $7.61 and its two-hundred day simple moving average is $9.46. The stock has a market capitalization of $179.52 million, a PE ratio of -0.83 and a beta of 1.65. The company has a current ratio of 2.13, a quick ratio of 2.13 and a debt-to-equity ratio of 1.30.

Cardlytics (NASDAQ:CDLX) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.12. The company had revenue of $69.64 million for the quarter, compared to the consensus estimate of $75.39 million. Cardlytics had a negative return on equity of 25.36% and a negative net margin of 55.23%. The firm’s revenue for the quarter was down 9.2% compared to the same quarter last year. During the same quarter last year, the company earned ($0.57) earnings per share. As a group, analysts expect that Cardlytics will post -1.8 EPS for the current fiscal year.

Insider Transactions at Cardlytics

In related news, CEO Karim Saad Temsamani sold 43,129 shares of the business’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $8.65, for a total transaction of $373,065.85. Following the completion of the transaction, the chief executive officer now directly owns 385,530 shares in the company, valued at $3,334,834.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Karim Saad Temsamani sold 43,129 shares of Cardlytics stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $8.65, for a total transaction of $373,065.85. Following the completion of the transaction, the chief executive officer now directly owns 385,530 shares in the company, valued at $3,334,834.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Scott A. Hill purchased 40,000 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was bought at an average cost of $3.58 per share, with a total value of $143,200.00. Following the completion of the acquisition, the director now directly owns 40,000 shares of the company’s stock, valued at approximately $143,200. The disclosure for this purchase can be found here. Insiders have sold 86,742 shares of company stock worth $735,905 over the last 90 days. 4.40% of the stock is currently owned by company insiders.

Institutional Trading of Cardlytics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Canton Hathaway LLC raised its position in shares of Cardlytics by 95.7% in the second quarter. Canton Hathaway LLC now owns 4,500 shares of the company’s stock worth $37,000 after acquiring an additional 2,200 shares during the period. XTX Topco Ltd acquired a new position in Cardlytics in the 2nd quarter worth about $107,000. Banco Santander S.A. acquired a new position in Cardlytics in the 1st quarter worth about $199,000. Quest Partners LLC boosted its position in 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 in the last quarter. Finally, Clear Street Markets LLC acquired a new stake in Cardlytics in the fourth quarter valued at approximately $199,000. Institutional investors and hedge funds own 68.10% of the company’s stock.

Cardlytics Company Profile

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.