Cardlytics (NASDAQ:CDLX) Stock Rating Upgraded by Craig Hallum

Craig Hallum upgraded Cardlytics (NASDAQ:CDLX) from a "hold" to a "strong-buy" rating in a recent report. Other analysts have mixed views, with Lake Street Capital downgrading the stock to "hold" and Bank of America to "underperform." Cardlytics shares opened at $0.07, down 21.9%, with a market cap of $85 million. The company reported a quarterly EPS of -$0.09, exceeding estimates, but revenue fell 9.2% year-over-year. Insider trading activity includes a director purchasing 40,000 shares and the CEO selling 22,607 shares.

Cardlytics (NASDAQ:CDLX - Get Free Report) was upgraded by stock analysts at Craig Hallum from a "hold" rating to a "strong-buy" rating in a research note issued on Wednesday,Zacks.com reports.

A number of other analysts also recently issued reports on CDLX. Lake Street Capital downgraded Cardlytics from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $18.00 to $5.00 in a research note on Thursday, August 8th. Evercore ISI began coverage on Cardlytics in a report on Friday, October 11th. They issued an "in-line" rating and a $4.00 target price for the company. Northland Securities cut Cardlytics from an "outperform" rating to a "market perform" rating and dropped their target price for the stock from $7.00 to $5.00 in a report on Friday, August 16th. Bank of America cut Cardlytics from a "neutral" rating to an "underperform" rating and dropped their target price for the stock from $4.00 to $3.50 in a report on Thursday, August 15th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Cardlytics in a report on Thursday. One investment 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 MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $6.92.

Check Out Our Latest Analysis on Cardlytics

Cardlytics Stock Down 21.9 %

Shares of CDLX opened at $4.07 on Wednesday. The business's 50 day moving average is $3.68 and its 200 day moving average is $6.76. The company has a market capitalization of $202.85 million, a PE ratio of -1.06 and a beta of 1.61. Cardlytics has a 12-month low of $2.89 and a 12-month high of $20.52. 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 (NASDAQ:CDLX - Get Free Report) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.21) by $0.12. Cardlytics had a negative return on equity of 17.96% and a negative net margin of 50.21%. The business had revenue of $69.64 million for the quarter, compared to the consensus estimate of $75.39 million. During the same quarter in the previous year, the company posted ($0.57) EPS. The company's revenue was down 9.2% compared to the same quarter last year. Research analysts expect that Cardlytics will post -1.72 earnings per share for the current fiscal year.

Insider Activity at Cardlytics

In other Cardlytics news, Director Scott A. Hill acquired 40,000 shares of the company's stock in a transaction that occurred on Monday, August 12th. The stock was bought at an average price of $3.58 per share, for a total transaction of $143,200.00. Following the acquisition, the director now directly owns 40,000 shares in the company, valued at $143,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other 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 transaction of $87,036.95. Following the transaction, the chief executive officer now owns 178,519 shares of the company's stock, valued at approximately $687,298.15. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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. Insiders sold a total of 43,573 shares of company stock worth $151,612 in the last quarter. 4.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Cardlytics

A number of hedge funds and other institutional investors have recently made changes to their positions in CDLX. Canton Hathaway LLC grew its position 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 buying an additional 2,200 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Cardlytics during the 3rd quarter worth $45,000. Creative Planning grew its position 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 buying an additional 7,721 shares in the last quarter. XTX Topco Ltd bought a new position in shares of Cardlytics during the 2nd quarter worth $107,000. Finally, 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 valued at $147,000 after purchasing an additional 11,061 shares in the last quarter. Institutional investors own 68.10% of the company's stock.

Cardlytics Company Profile

(Get Free Report)

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.

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