Cardlytics’ (CDLX) “Hold” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of Cardlytics (NASDAQ:CDLX) in a research note released on Thursday morning,Benzinga reports.

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

Cardlytics Stock Performance

NASDAQ CDLX opened at $4.37 on Thursday. The company has a market capitalization of $222.09 million, a price-to-earnings ratio of -0.72 and a beta of 1.61. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 1.01. Cardlytics has a twelve month low of $2.89 and a twelve month high of $20.52. The stock has a fifty day simple moving average of $3.69 and a 200 day simple moving average of $6.66.

Cardlytics (NASDAQ:CDLX) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.15) EPS for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.18. Cardlytics had a negative return on equity of 93.64% and a negative net margin of 93.55%. The firm had revenue of $67.06 million for the quarter, compared to analyst estimates of $57.77 million. During the same quarter in the previous year, the company posted ($0.26) EPS. The business’s revenue was down 15.1% on a year-over-year basis. Sell-side analysts expect that Cardlytics will post -1.72 EPS for the current year.

Insider Transactions at Cardlytics

In related news, Director Scott A. Hill purchased 40,000 shares of Cardlytics stock in a transaction dated Monday, August 12th. The stock was purchased at an average cost of $3.58 per share, for a total transaction of $143,200.00. Following the completion of the purchase, the director now directly owns 40,000 shares of the company’s stock, valued at $143,200. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Cardlytics news, 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 sale, the chief executive officer now owns 178,519 shares in the company, valued at $687,298.15. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Scott A. Hill purchased 40,000 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were purchased at an average cost of $3.58 per share, for a total transaction of $143,200.00. Following the transaction, the director now directly owns 40,000 shares in the company, valued at approximately $143,200. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 43,573 shares of company stock worth $151,612. Corporate insiders own 4.40% of the company’s stock.

Institutional Investors Weigh In On Cardlytics

Several institutional investors have recently added to or reduced their stakes in the business. Canton Hathaway LLC grew its stake in shares of Cardlytics by 95.7% during the 2nd 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. SG Americas Securities LLC acquired a new stake in shares of Cardlytics in the 3rd quarter worth $45,000. Intech Investment Management LLC acquired a new position in Cardlytics during the 3rd quarter worth approximately $47,000. Creative Planning grew its stake in shares of Cardlytics by 35.4% during the 3rd quarter. Creative Planning now owns 29,537 shares of the company’s stock worth $95,000 after purchasing an additional 7,721 shares during the period. Finally, XTX Topco Ltd acquired a new stake in shares of Cardlytics during the 2nd quarter valued at approximately $107,000. Institutional investors and hedge funds own 68.10% of the company’s stock.

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.