Cardlytics (CDLX) Upgraded to Buy at Zacks Investment Research

Cardlytics (NASDAQ:CDLX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Monday. The firm presently has a $16.00 price objective on the stock. Zacks Investment Research‘s target price indicates a potential upside of 14.04% from the company’s previous close.

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. “

Several other equities analysts have also commented on the stock. Raymond James decreased their price objective on shares of Cardlytics from $23.00 to $20.00 and set an “outperform” rating for the company in a research report on Wednesday, November 14th. JPMorgan Chase & Co. cut their price target on shares of Cardlytics from $31.00 to $25.00 and set an “overweight” rating on the stock in a report on Wednesday, November 14th. Morgan Stanley cut their price target on shares of Cardlytics from $28.00 to $26.00 and set an “overweight” rating on the stock in a report on Wednesday, November 14th. SunTrust Banks reiterated a “buy” rating and issued a $27.00 price target on shares of Cardlytics in a report on Tuesday, September 11th. Finally, Bank of America reiterated a “hold” rating and issued a $22.00 price target on shares of Cardlytics in a report on Friday, August 17th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $23.25.

Shares of Cardlytics stock traded down $0.62 during midday trading on Monday, hitting $14.03. The company had a trading volume of 275,700 shares, compared to its average volume of 173,055. The firm has a market capitalization of $296.87 million and a P/E ratio of -1.75. The company has a quick ratio of 3.04, a current ratio of 3.04 and a debt-to-equity ratio of 0.91. Cardlytics has a 12-month low of $11.10 and a 12-month high of $28.29.

Cardlytics (NASDAQ:CDLX) last announced its quarterly earnings data on Tuesday, November 13th. The company reported ($0.15) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.63) by $0.48. The company had revenue of $34.58 million during the quarter, compared to analysts’ expectations of $37.62 million. The firm’s quarterly revenue was up 10.1% on a year-over-year basis. As a group, research analysts anticipate that Cardlytics will post -2.08 earnings per share for the current fiscal year.

In other news, Director Polaris Venture Management Co. sold 150,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 13th. The shares were sold at an average price of $25.04, for a total transaction of $3,756,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Several hedge funds and other institutional investors have recently modified their holdings of the company. TIAA CREF Investment Management LLC acquired a new stake in shares of Cardlytics during the 3rd quarter worth approximately $202,000. Teachers Advisors LLC acquired a new stake in shares of Cardlytics during the 3rd quarter worth approximately $263,000. Kornitzer Capital Management Inc. KS grew its stake in Cardlytics by 25.3% in the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 97,700 shares of the company’s stock valued at $2,446,000 after acquiring an additional 19,700 shares during the period. Allianz Asset Management GmbH acquired a new stake in Cardlytics in the 3rd quarter valued at $4,282,000. Finally, North Fourth Asset Management LP acquired a new stake in Cardlytics in the 3rd quarter valued at $2,614,000. 60.76% of the stock is currently 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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