Cardlytics (CDLX) Rating Increased to Hold at Zacks Investment Research

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

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. “

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

CDLX opened at $15.55 on Thursday. The firm has a market cap of $314.03 million and a PE ratio of -7.27. 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 fifty-two week low of $9.80 and a fifty-two week high of $28.29.

Cardlytics (NASDAQ:CDLX) last released its quarterly earnings data on Tuesday, March 5th. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.43) by $0.37. Cardlytics had a negative return on equity of 92.07% and a negative net margin of 35.20%. Equities research analysts forecast that Cardlytics will post -1.88 earnings per share for the current fiscal year.

In other news, CFO David Thomas Evans sold 2,554 shares of the firm’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $15.90, for a total value of $40,608.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Several institutional investors have recently modified their holdings of the company. BlackRock Inc. boosted its position in shares of Cardlytics by 0.4% in the fourth quarter. BlackRock Inc. now owns 422,718 shares of the company’s stock worth $4,578,000 after buying an additional 1,610 shares during the period. Bank of America Corp DE boosted its position in Cardlytics by 0.9% during the fourth quarter. Bank of America Corp DE now owns 270,025 shares of the company’s stock valued at $2,924,000 after purchasing an additional 2,471 shares during the last quarter. Wells Fargo & Company MN boosted its position in Cardlytics by 72.4% during the third quarter. Wells Fargo & Company MN now owns 8,004 shares of the company’s stock valued at $201,000 after purchasing an additional 3,361 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Cardlytics by 22.3% during the third quarter. Bank of New York Mellon Corp now owns 19,029 shares of the company’s stock valued at $477,000 after purchasing an additional 3,476 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its position in Cardlytics by 80.0% during the fourth quarter. New York State Common Retirement Fund now owns 9,000 shares of the company’s stock valued at $97,000 after purchasing an additional 4,000 shares during the last quarter. 80.89% of the stock is 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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