Cardlytics (NASDAQ:CDLX) PT Lowered to $60.00 at Needham & Company LLC

Cardlytics (NASDAQ:CDLXGet Rating) had its target price lowered by stock analysts at Needham & Company LLC from $85.00 to $60.00 in a report issued on Tuesday, The Fly reports. Needham & Company LLC’s target price suggests a potential upside of 67.32% from the stock’s previous close.

Other research analysts have also issued research reports about the stock. Wells Fargo & Company initiated coverage on shares of Cardlytics in a research note on Tuesday, April 5th. They issued an “overweight” rating and a $72.00 price objective for the company. Craig Hallum reduced their target price on shares of Cardlytics from $100.00 to $70.00 in a report on Wednesday, March 2nd. Finally, Zacks Investment Research raised shares of Cardlytics from a “sell” rating to a “hold” rating in a report on Tuesday, January 4th. One analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $76.75.

NASDAQ CDLX opened at $35.86 on Tuesday. The firm has a 50 day simple moving average of $50.57 and a 200-day simple moving average of $63.66. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.10 and a current ratio of 1.10. Cardlytics has a one year low of $32.97 and a one year high of $138.11. The firm has a market cap of $1.21 billion, a price-to-earnings ratio of -9.01 and a beta of 2.47.

Cardlytics (NASDAQ:CDLXGet Rating) last posted its quarterly earnings data on Tuesday, March 1st. The company reported ($0.15) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.76) by $0.61. Cardlytics had a negative net margin of 48.13% and a negative return on equity of 12.16%. The business had revenue of $90.05 million during the quarter, compared to analyst estimates of $76.59 million. During the same quarter last year, the firm posted ($0.32) earnings per share. The business’s revenue for the quarter was up 34.2% compared to the same quarter last year. Equities analysts predict that Cardlytics will post -3.64 EPS for the current fiscal year.

In other Cardlytics news, insider Kirk Somers sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 15th. The shares were sold at an average price of $42.82, for a total transaction of $42,820.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Scott D. Grimes sold 6,000 shares of the firm’s stock in a transaction that occurred on Friday, February 18th. The stock was sold at an average price of $58.47, for a total transaction of $350,820.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,025 shares of company stock worth $1,706,517. 4.14% of the stock is owned by corporate insiders.

Several institutional investors have recently made changes to their positions in the company. Mutual of America Capital Management LLC increased its holdings in shares of Cardlytics by 6.2% in the 1st quarter. Mutual of America Capital Management LLC now owns 98,018 shares of the company’s stock valued at $5,389,000 after acquiring an additional 5,744 shares during the period. Integrated Advisors Network LLC purchased a new position in Cardlytics in the 1st quarter valued at $3,052,000. SG Americas Securities LLC grew its position in Cardlytics by 29.5% in the 1st quarter. SG Americas Securities LLC now owns 18,647 shares of the company’s stock valued at $1,025,000 after buying an additional 4,249 shares during the last quarter. Nisa Investment Advisors LLC grew its position in Cardlytics by 280.0% in the 1st quarter. Nisa Investment Advisors LLC now owns 3,800 shares of the company’s stock valued at $209,000 after buying an additional 2,800 shares during the last quarter. Finally, Serengeti Asset Management LP purchased a new position in Cardlytics in the 1st quarter valued at $825,000. 97.57% of the stock is currently owned by institutional investors and hedge funds.

About Cardlytics (Get Rating)

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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