Needham & Company LLC Reaffirms Buy Rating for Cardlytics (NASDAQ:CDLX)

Cardlytics (NASDAQ:CDLXGet Free Report)‘s stock had its “buy” rating reissued by equities research analysts at Needham & Company LLC in a note issued to investors on Tuesday, Benzinga reports. They currently have a $12.00 target price on the stock. Needham & Company LLC’s price target indicates a potential upside of 36.67% from the company’s previous close.

A number of other equities analysts have also recently issued reports on the company. Craig Hallum lowered their target price on Cardlytics from $18.00 to $12.00 and set a “buy” rating for the company in a report on Thursday, May 9th. Lake Street Capital increased their price objective on shares of Cardlytics from $13.00 to $18.00 and gave the stock a “buy” rating in a research note on Friday, March 15th.

Read Our Latest Stock Report on CDLX

Cardlytics Stock Up 0.7 %

NASDAQ:CDLX opened at $8.78 on Tuesday. The stock’s fifty day moving average price is $11.34 and its two-hundred day moving average price is $9.54. The company has a debt-to-equity ratio of 1.30, a quick ratio of 2.13 and a current ratio of 2.13. The company has a market cap of $428.29 million, a price-to-earnings ratio of -1.99 and a beta of 1.68. Cardlytics has a 52-week low of $5.37 and a 52-week high of $20.52.

Cardlytics (NASDAQ:CDLXGet Free Report) last posted its quarterly earnings results on Wednesday, May 8th. The company reported ($0.35) earnings per share for the quarter. The company had revenue of $67.61 million during the quarter. Cardlytics had a negative net margin of 55.23% and a negative return on equity of 25.36%.

Insider Buying and Selling

In other news, major shareholder Clifford Sosin purchased 3,746 shares of the business’s stock in a transaction on Monday, May 13th. The shares were acquired at an average price of $8.99 per share, with a total value of $33,676.54. Following the completion of the transaction, the insider now owns 6,464,859 shares of the company’s stock, valued at approximately $58,119,082.41. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, major shareholder Clifford Sosin acquired 3,746 shares of the business’s stock in a transaction dated Monday, May 13th. The shares were bought at an average price of $8.99 per share, with a total value of $33,676.54. Following the transaction, the insider now directly owns 6,464,859 shares of the company’s stock, valued at $58,119,082.41. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Nicholas Hollmeyer Lynton sold 12,460 shares of the stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $13.69, for a total transaction of $170,577.40. Following the transaction, the insider now directly owns 71,355 shares in the company, valued at approximately $976,849.95. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 890,461 shares of company stock valued at $10,961,539 and have sold 79,435 shares valued at $828,269. 4.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Cardlytics

A number of institutional investors and hedge funds have recently made changes to their positions in CDLX. New York State Common Retirement Fund raised its holdings in shares of Cardlytics by 600.8% in the 3rd quarter. New York State Common Retirement Fund now owns 13,498 shares of the company’s stock worth $223,000 after acquiring an additional 11,572 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Cardlytics by 12.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 283,086 shares of the company’s stock valued at $4,671,000 after buying an additional 32,228 shares during the last quarter. Deutsche Bank AG increased its stake in Cardlytics by 5.0% in the 3rd quarter. Deutsche Bank AG now owns 43,992 shares of the company’s stock valued at $726,000 after buying an additional 2,093 shares during the last quarter. Invesco Ltd. increased its stake in Cardlytics by 538.1% in the 3rd quarter. Invesco Ltd. now owns 803,241 shares of the company’s stock valued at $13,253,000 after buying an additional 677,354 shares during the last quarter. Finally, Acadian Asset Management LLC increased its stake in Cardlytics by 23.8% in the 3rd quarter. Acadian Asset Management LLC now owns 215,046 shares of the company’s stock valued at $3,546,000 after buying an additional 41,400 shares during the last quarter. Institutional investors and hedge funds own 68.10% of the company’s stock.

About Cardlytics

(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.

Further Reading

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