Cardlytics (NASDAQ:CDLX) PT Raised to $18.00

Cardlytics (NASDAQ:CDLX) had its price objective hoisted by Lake Street Capital from $13.00 to $18.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has a “buy” rating on the stock. Lake Street Capital’s price objective would indicate a potential upside of 37.83% from the stock’s previous close.

CDLX has been the subject of a number of other reports. Craig Hallum upgraded shares of Cardlytics from a “hold” rating to a “buy” rating and upped their price target for the stock from $10.00 to $18.00 in a research report on Friday. Needham & Company LLC reiterated a “buy” rating and issued a $12.00 price target on shares of Cardlytics in a research report on Tuesday, January 30th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $13.20.

Cardlytics Stock Performance

CDLX stock traded down $1.44 during midday trading on Friday, reaching $13.06. 4,504,491 shares of the company’s stock traded hands, compared to its average volume of 1,202,047. The stock has a market cap of $512.61 million, a P/E ratio of -3.77 and a beta of 1.36. Cardlytics has a 52-week low of $2.57 and a 52-week high of $19.57. The stock’s 50-day moving average is $7.33 and its 200 day moving average is $10.01. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 1.01.

Insider Activity at Cardlytics

In other news, insider Nicholas Hollmeyer Lynton sold 15,620 shares of the stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $7.77, for a total value of $121,367.40. Following the sale, the insider now owns 55,849 shares of the company’s stock, valued at $433,946.73. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Nicholas Hollmeyer Lynton sold 15,620 shares of the stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $7.77, for a total value of $121,367.40. Following the sale, the insider now owns 55,849 shares of the company’s stock, valued at $433,946.73. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Clifford Sosin bought 350,000 shares of Cardlytics stock in a transaction dated Monday, March 18th. The stock was purchased at an average cost of $13.40 per share, for a total transaction of $4,690,000.00. Following the purchase, the insider now owns 6,023,676 shares of the company’s stock, valued at approximately $80,717,258.40. The disclosure for this purchase can be found here. Insiders have sold a total of 136,556 shares of company stock valued at $926,492 over the last 90 days. 0.78% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Raymond James Financial Services Advisors Inc. purchased a new position in Cardlytics in the 3rd quarter worth about $5,258,000. Invesco Ltd. grew its holdings in Cardlytics by 538.1% during the 3rd quarter. Invesco Ltd. now owns 803,241 shares of the company’s stock worth $13,253,000 after acquiring an additional 677,354 shares in the last quarter. LPL Financial LLC grew its holdings in Cardlytics by 27.5% during the 3rd quarter. LPL Financial LLC now owns 424,150 shares of the company’s stock worth $6,998,000 after acquiring an additional 91,400 shares in the last quarter. Barclays PLC grew its position in shares of Cardlytics by 486.7% in the 2nd quarter. Barclays PLC now owns 139,396 shares of the company’s stock worth $880,000 after buying an additional 115,637 shares during the last quarter. Finally, New York State Common Retirement Fund grew its position in shares of Cardlytics by 600.8% in the 3rd quarter. New York State Common Retirement Fund now owns 13,498 shares of the company’s stock worth $223,000 after buying an additional 11,572 shares during the last quarter. Hedge funds and other institutional investors own 72.67% of the company’s stock.

About Cardlytics

Cardlytics, Inc operates an advertising platform in the United States and the United Kingdom. It offers Cardlytics platform, a proprietary native bank advertising channel that enables marketers to reach customers through their network of financial institution partners through digital channels, such as online, mobile applications, email, and various real-time notifications; and Bridg platform, a customer data platform which utilizes point-of-sale data and enables marketers to perform analytics and targeted loyalty marketing, as well as measure the impact of their marketing.