Cardlytics (NASDAQ:CDLX) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research downgraded shares of Cardlytics (NASDAQ:CDLX) from a strong-buy rating to a hold rating in a report published on Wednesday morning, Zacks.com reports.

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 a number of other reports. KeyCorp upped their price target on shares of Harsco from $30.00 to $35.00 and gave the stock an overweight rating in a research report on Friday, May 10th. SunTrust Banks reiterated a buy rating and issued a $25.00 price target on shares of Cardlytics in a research report on Tuesday, May 21st. ValuEngine upgraded shares of Xylem from a hold rating to a buy rating in a research report on Tuesday, April 23rd. Finally, William Blair assumed coverage on shares of Cardlytics in a research report on Monday, July 1st. They issued an outperform rating for the company. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Cardlytics currently has an average rating of Buy and an average target price of $22.71.

CDLX opened at $28.04 on Wednesday. Cardlytics has a 1-year low of $9.80 and a 1-year high of $30.38. The stock has a 50 day moving average price of $25.36. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.37 and a quick ratio of 2.37.

Cardlytics (NASDAQ:CDLX) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($0.30) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.61) by $0.31. The business had revenue of $35.99 million during the quarter, compared to analyst estimates of $36.11 million. Cardlytics had a negative net margin of 25.53% and a negative return on equity of 84.02%. The company’s revenue was up 10.0% on a year-over-year basis. During the same period in the prior year, the business posted ($0.35) earnings per share. Equities research analysts anticipate that Cardlytics will post -1.12 earnings per share for the current fiscal year.

In related news, CEO Scott D. Grimes sold 6,000 shares of the company’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $30.00, for a total transaction of $180,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Bryce Youngren sold 100,000 shares of the company’s stock in a transaction 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. In the last 90 days, insiders have sold 296,984 shares of company stock valued at $7,250,444. 21.90% of the stock is owned by company insiders.

Large investors have recently modified their holdings of the stock. New York State Common Retirement Fund boosted its position in shares of Cardlytics by 80.0% during the fourth quarter. New York State Common Retirement Fund now owns 9,000 shares of the company’s stock worth $97,000 after acquiring an additional 4,000 shares during the last quarter. Gamco Investors INC. ET AL bought a new position in shares of Cardlytics during the first quarter worth $256,000. Marshall Wace LLP bought a new position in shares of Cardlytics during the first quarter worth $336,000. Raymond James & Associates boosted its position in shares of Cardlytics by 281.6% during the fourth quarter. Raymond James & Associates now owns 53,800 shares of the company’s stock worth $583,000 after acquiring an additional 39,700 shares during the last quarter. Finally, CIBC Private Wealth Group LLC boosted its position in shares of Cardlytics by 6.7% during the first quarter. CIBC Private Wealth Group LLC now owns 37,745 shares of the company’s stock worth $624,000 after acquiring an additional 2,375 shares during the last quarter. Hedge funds and other institutional investors own 73.51% of the company’s stock.

Cardlytics Company Profile

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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