Cardlytics (NASDAQ:CDLX) Receives “Hold” Rating from Needham & Company LLC

Needham & Company LLC reissued their hold rating on shares of Cardlytics (NASDAQ:CDLX) in a report published on Thursday morning,Benzinga reports.

A number of other brokerages have also commented on CDLX. Bank of America lowered Cardlytics from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $4.00 to $3.50 in a report on Thursday, August 15th. Northland Securities lowered shares of Cardlytics from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $7.00 to $5.00 in a report on Friday, August 16th. Evercore ISI initiated coverage on Cardlytics in a research report on Friday, October 11th. They issued an “in-line” rating and a $4.00 price target on the stock. Lake Street Capital cut shares of Cardlytics from a “buy” rating to a “hold” rating and dropped their price target for the stock from $18.00 to $5.00 in a research note on Thursday, August 8th. Finally, Craig Hallum cut shares of Cardlytics from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $6.92.

Cardlytics Stock Up 7.4 %

Cardlytics stock traded up $0.30 during midday trading on Thursday, reaching $4.37. The stock had a trading volume of 1,687,536 shares, compared to its average volume of 1,241,985. The company has a market capitalization of $217.80 million, a P/E ratio of -1.21 and a beta of 1.61. The company has a fifty day moving average price of $3.68 and a two-hundred day moving average price of $6.76. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 1.01. Cardlytics has a 12 month low of $2.89 and a 12 month high of $20.52.

Cardlytics (NASDAQ:CDLX) last released its quarterly earnings results 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 analyst estimates of $75.39 million. Cardlytics had a negative net margin of 50.21% and a negative return on equity of 17.96%. The firm’s revenue was down 9.2% on a year-over-year basis. During the same period last year, the firm earned ($0.57) earnings per share. As a group, equities analysts expect that Cardlytics will post -1.72 EPS for the current fiscal year.

Insider Buying and Selling

In other Cardlytics news, CEO Amit Gupta sold 22,607 shares of the firm’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $3.85, for a total value of $87,036.95. Following the transaction, the chief executive officer now directly owns 178,519 shares of the company’s stock, valued at approximately $687,298.15. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Scott A. Hill bought 40,000 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were bought at an average price of $3.58 per share, for a total transaction of $143,200.00. Following the purchase, the director now owns 40,000 shares in the company, valued at $143,200. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Amit Gupta sold 22,607 shares of the stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $3.85, for a total value of $87,036.95. Following the completion of the sale, the chief executive officer now owns 178,519 shares of the company’s stock, valued at $687,298.15. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,573 shares of company stock valued at $151,612 over the last 90 days. Company insiders own 4.40% of the company’s stock.

Institutional Investors Weigh In On Cardlytics

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in Cardlytics by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 2,211,595 shares of the company’s stock valued at $32,046,000 after purchasing an additional 57,805 shares during the last quarter. Marshall Wace LLP boosted its position in Cardlytics by 6.8% in the second quarter. Marshall Wace LLP now owns 814,281 shares of the company’s stock valued at $6,685,000 after buying an additional 52,081 shares during the last quarter. GSA Capital Partners LLP increased its holdings in Cardlytics by 1,273.2% in the 3rd quarter. GSA Capital Partners LLP now owns 382,315 shares of the company’s stock worth $1,223,000 after buying an additional 354,474 shares during the period. Renaissance Technologies LLC raised its position in Cardlytics by 711.9% during the 2nd quarter. Renaissance Technologies LLC now owns 351,035 shares of the company’s stock worth $2,882,000 after buying an additional 307,800 shares during the last quarter. Finally, Kent Lake Capital LLC acquired a new stake in Cardlytics during the 1st quarter valued at approximately $3,622,000. 68.10% of the stock is currently owned by institutional investors and hedge funds.

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.