Cardlytics Inc (NASDAQ:CDLX) rose 6.3% on Friday . The company traded as high as $37.50 and last traded at $36.98, approximately 470,319 shares changed hands during trading. An increase of 51% from the average daily volume of 311,615 shares. The stock had previously closed at $34.78.
CDLX has been the subject of a number of recent analyst reports. William Blair initiated coverage on Cardlytics in a research note on Monday, July 1st. They set an “outperform” rating for the company. ValuEngine lowered Cardlytics from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. Zacks Investment Research lowered Cardlytics from a “buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. SunTrust Banks raised their price objective on Cardlytics from $25.00 to $35.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Finally, Bank of America restated a “buy” rating and set a $32.00 price objective (up previously from $22.00) on shares of Cardlytics in a research note on Wednesday, July 24th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $33.29.
The business has a 50 day simple moving average of $35.11 and a two-hundred day simple moving average of $26.20. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 0.79. The stock has a market cap of $799.74 million, a price-to-earnings ratio of -17.28 and a beta of 1.49.
Cardlytics (NASDAQ:CDLX) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.12) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.23. The firm had revenue of $48.73 million during the quarter, compared to analyst estimates of $43.77 million. Cardlytics had a negative return on equity of 66.01% and a negative net margin of 19.60%. Cardlytics’s quarterly revenue was up 37.0% on a year-over-year basis. During the same quarter last year, the firm earned ($0.21) EPS. Research analysts anticipate that Cardlytics Inc will post -1.08 EPS for the current fiscal year.
In other news, insider Kirk Somers sold 1,500 shares of Cardlytics stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $27.46, for a total value of $41,190.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Bryce Youngren sold 68,727 shares of Cardlytics stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $27.66, for a total value of $1,900,988.82. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,904,892 shares of company stock valued at $90,275,936. Insiders own 21.90% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Bank of Montreal Can grew its position in shares of Cardlytics by 16,371.4% in the 2nd quarter. Bank of Montreal Can now owns 1,153 shares of the company’s stock worth $30,000 after acquiring an additional 1,146 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new position in shares of Cardlytics in the 2nd quarter worth approximately $60,000. Rockefeller Capital Management L.P. acquired a new position in shares of Cardlytics in the 2nd quarter worth approximately $85,000. Acadian Asset Management LLC acquired a new position in shares of Cardlytics in the 2nd quarter worth approximately $161,000. Finally, Royal Bank of Canada grew its position in shares of Cardlytics by 166.5% in the 2nd quarter. Royal Bank of Canada now owns 10,643 shares of the company’s stock worth $276,000 after acquiring an additional 6,649 shares in the last quarter. Institutional investors own 84.08% of the company’s stock.
About Cardlytics (NASDAQ:CDLX)
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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