Cardlytics (NASDAQ:CDLX) Lowered to “Market Perform” at Raymond James

Raymond James cut shares of Cardlytics (NASDAQ:CDLX) from an outperform rating to a market perform rating in a research note issued to investors on Wednesday, 24/7 WallStreet reports. The analysts noted that the move was a valuation call.

A number of other research firms have also recently issued reports on CDLX. Zacks Investment Research cut shares of Cardlytics from a buy rating to a hold rating in a research note on Thursday, December 5th. Craig Hallum raised their target price on shares of Cardlytics from $75.00 to $100.00 and gave the stock a buy rating in a research note on Tuesday, January 14th. Bank of America restated an average rating and set a $100.00 target price on shares of Cardlytics in a research note on Tuesday, January 14th. JPMorgan Chase & Co. cut shares of Cardlytics from an overweight rating to a neutral rating and set a $58.00 target price for the company. in a research note on Thursday, November 14th. They noted that the move was a valuation call. Finally, ValuEngine cut shares of Cardlytics from a hold rating to a sell rating in a research note on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of Hold and an average price target of $66.43.

Shares of NASDAQ CDLX traded down $0.45 during mid-day trading on Wednesday, reaching $83.50. 516,785 shares of the company were exchanged, compared to its average volume of 449,966. The company’s 50-day simple moving average is $64.02 and its 200-day simple moving average is $43.24. Cardlytics has a twelve month low of $14.14 and a twelve month high of $90.50.

Cardlytics (NASDAQ:CDLX) last posted its earnings results on Tuesday, November 12th. The company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.31. The company had revenue of $56.42 million during the quarter, compared to analysts’ expectations of $50.02 million. Cardlytics had a negative net margin of 17.01% and a negative return on equity of 44.53%. Cardlytics’s quarterly revenue was up 63.2% compared to the same quarter last year. During the same quarter last year, the company posted ($0.15) EPS. As a group, analysts predict that Cardlytics will post -0.9 EPS for the current fiscal year.

In other Cardlytics news, CEO Scott D. Grimes sold 1,000 shares of Cardlytics stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $61.11, for a total value of $61,110.00. Following the completion of the sale, the chief executive officer now owns 406,750 shares in the company, valued at approximately $24,856,492.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Scott D. Grimes sold 10,000 shares of Cardlytics stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $39.60, for a total transaction of $396,000.00. Insiders sold a total of 419,444 shares of company stock valued at $23,876,049 in the last quarter. Corporate insiders own 21.90% of the company’s stock.

A number of institutional investors have recently modified their holdings of the business. California State Teachers Retirement System raised its stake in Cardlytics by 2.4% in the 3rd quarter. California State Teachers Retirement System now owns 21,444 shares of the company’s stock worth $719,000 after purchasing an additional 510 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in Cardlytics by 35.0% in the 3rd quarter. Tower Research Capital LLC TRC now owns 4,079 shares of the company’s stock valued at $137,000 after buying an additional 1,057 shares during the period. Bank of Montreal Can increased its holdings in Cardlytics by 16,371.4% in the 2nd quarter. Bank of Montreal Can now owns 1,153 shares of the company’s stock valued at $30,000 after buying an additional 1,146 shares during the period. Rhumbline Advisers increased its holdings in Cardlytics by 9.0% in the 3rd quarter. Rhumbline Advisers now owns 14,356 shares of the company’s stock valued at $481,000 after buying an additional 1,180 shares during the period. Finally, First Mercantile Trust Co. increased its holdings in Cardlytics by 24.9% in the 3rd quarter. First Mercantile Trust Co. now owns 13,734 shares of the company’s stock valued at $460,000 after buying an additional 2,738 shares during the period. Institutional investors and hedge funds own 93.17% 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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