Cardlytics (CDLX) Upgraded to “Hold” at Zacks Investment Research

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Zacks Investment Research upgraded shares of Cardlytics (NASDAQ:CDLX) from a sell rating to a hold rating in a report published on Thursday.

According to Zacks, “Cardlytics, Inc. is engaged in developing a purchase intelligence platform. The purchase data includes debit, credit and bill pay data from online and in-store transactions. It helps the marketers identify, reach and influence likely buyers at scale, and measure the impact of marketing spends. The Company also operates an advertising channel, Cardlytics Direct. Cardlytics Direct delivers tailored marketing for marketers and financial institutions. Cardlytics, Inc. is based in ATLANTA, United States. “

A number of other analysts have also commented on CDLX. Raymond James lowered their target price on shares of Cardlytics from $23.00 to $20.00 and set an outperform rating for the company in a report on Wednesday, November 14th. SunTrust Banks reaffirmed a buy rating and set a $25.00 target price on shares of Cardlytics in a report on Wednesday, March 6th. Morgan Stanley lowered their target price on shares of Cardlytics from $28.00 to $26.00 and set an overweight rating for the company in a report on Wednesday, November 14th. JPMorgan Chase & Co. lowered their target price on shares of Cardlytics from $31.00 to $25.00 and set an overweight rating for the company in a report on Wednesday, November 14th. Finally, Bank of America raised shares of Cardlytics from a neutral rating to a buy rating and set a $15.00 price target on the stock in a research report on Tuesday, January 15th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. The company currently has an average rating of Buy and an average price target of $22.86.

CDLX opened at $15.45 on Thursday. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.40 and a quick ratio of 2.40. Cardlytics has a 52 week low of $9.80 and a 52 week high of $28.29. The firm has a market cap of $314.03 million and a price-to-earnings ratio of -7.22.

Cardlytics (NASDAQ:CDLX) last released its earnings results on Tuesday, March 5th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.37. Cardlytics had a negative net margin of 35.20% and a negative return on equity of 92.07%. Equities analysts expect that Cardlytics will post -1.88 EPS for the current year.

In other news, CFO David Thomas Evans sold 2,554 shares of Cardlytics stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $15.90, for a total transaction of $40,608.60. The sale was disclosed in a legal filing with the SEC, which is available through this link.

A number of institutional investors and hedge funds have recently bought and sold shares of CDLX. Canaan Partners VIII LLC bought a new stake in Cardlytics in the 4th quarter valued at $25,647,000. FMR LLC lifted its position in Cardlytics by 68.7% during the 3rd quarter. FMR LLC now owns 3,194,572 shares of the company’s stock worth $79,992,000 after buying an additional 1,300,376 shares in the last quarter. Frontier Capital Management Co. LLC lifted its position in Cardlytics by 105.6% during the 4th quarter. Frontier Capital Management Co. LLC now owns 1,462,777 shares of the company’s stock worth $15,842,000 after buying an additional 751,148 shares in the last quarter. Cannell Capital LLC bought a new stake in Cardlytics during the 4th quarter worth about $5,491,000. Finally, Jennison Associates LLC lifted its position in Cardlytics by 58.3% during the 4th quarter. Jennison Associates LLC now owns 1,264,354 shares of the company’s stock worth $13,693,000 after buying an additional 465,855 shares in the last quarter. 80.89% of the stock is currently owned by institutional investors and hedge funds.

About Cardlytics

Cardlytics, Inc operates a purchase intelligence platform in the United States and the United Kingdom. It operates in two segments, Cardlytics Direct and Other Platform Solutions. The company's platform is the Cardlytics Direct solution, a proprietary native bank advertising channel that enables marketers to reach consumers through their trusted and frequently visited online and mobile banking channels.

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