Raymond James Boosts Cardlytics (NASDAQ:CDLX) Price Target to $40.00

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Cardlytics (NASDAQ:CDLX) had its price target raised by Raymond James from $24.00 to $40.00 in a research report report published on Friday morning, BenzingaRatingsTable reports. Raymond James currently has an outperform rating on the stock.

Other analysts have also recently issued reports about the stock. ValuEngine cut shares of Cardlytics from a strong-buy rating to a buy rating in a report on Tuesday, April 23rd. Zacks Investment Research cut shares of Cardlytics from a buy rating to a hold rating in a report on Tuesday, July 23rd. William Blair began coverage on shares of Cardlytics in a report on Monday, July 1st. They set an outperform rating for the company. SunTrust Banks restated a buy rating and set a $25.00 price target on shares of Cardlytics in a report on Tuesday, May 21st. Finally, Bank of America restated a buy rating and set a $32.00 price target (up from $22.00) on shares of Cardlytics in a report on Wednesday, July 24th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus price target of $33.29.

Shares of CDLX opened at $31.54 on Friday. Cardlytics has a one year low of $9.80 and a one year high of $34.30. The stock has a 50-day moving average price of $28.30. The company has a quick ratio of 2.37, a current ratio of 2.37 and a debt-to-equity ratio of 0.99.

Cardlytics (NASDAQ:CDLX) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.12) EPS for the quarter, topping the consensus estimate of ($0.35) by $0.23. The business had revenue of $48.73 million during the quarter, compared to analysts’ expectations of $43.77 million. Cardlytics had a negative net margin of 19.60% and a negative return on equity of 64.83%. The firm’s quarterly revenue was up 37.0% compared to the same quarter last year. During the same period last year, the company posted ($0.21) earnings per share. As a group, analysts anticipate that Cardlytics will post -1.12 earnings per share for the current fiscal year.

In related news, CEO Scott D. Grimes sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $23.76, for a total transaction of $95,040.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Bryce Youngren sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $23.04, for a total transaction of $2,304,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 606,715 shares of company stock valued at $16,398,948. 21.90% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. CIBC Private Wealth Group LLC lifted its stake in Cardlytics by 6.7% in the first quarter. CIBC Private Wealth Group LLC now owns 37,745 shares of the company’s stock valued at $624,000 after acquiring an additional 2,375 shares during the last quarter. Frontier Capital Management Co. LLC lifted its stake in Cardlytics by 11.5% in the first quarter. Frontier Capital Management Co. LLC now owns 1,631,248 shares of the company’s stock valued at $26,981,000 after acquiring an additional 168,471 shares during the last quarter. Bank of America Corp DE lifted its stake in Cardlytics by 0.9% in the fourth quarter. Bank of America Corp DE now owns 270,025 shares of the company’s stock valued at $2,924,000 after acquiring an additional 2,471 shares during the last quarter. Penn Capital Management Co. Inc. lifted its stake in Cardlytics by 24.0% in the first quarter. Penn Capital Management Co. Inc. now owns 190,606 shares of the company’s stock valued at $3,153,000 after acquiring an additional 36,830 shares during the last quarter. Finally, Teton Advisors Inc. lifted its stake in Cardlytics by 15.0% in the first quarter. Teton Advisors Inc. now owns 115,000 shares of the company’s stock valued at $1,902,000 after acquiring an additional 15,000 shares during the last quarter. Hedge funds and other institutional investors own 70.43% of the company’s stock.

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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Analyst Recommendations for Cardlytics (NASDAQ:CDLX)

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