Shares of Cardlytics Inc (NASDAQ:CDLX) were up 6.3% during mid-day trading on Friday . The stock traded as high as $37.50 and last traded at $36.98, approximately 470,319 shares traded hands during trading. An increase of 51% from the average daily volume of 311,615 shares. The stock had previously closed at $34.78.
Several equities analysts have recently issued reports on CDLX shares. William Blair started coverage on Cardlytics in a research report on Monday, July 1st. They set an “outperform” rating on the stock. Bank of America reiterated a “buy” rating and set a $32.00 price target (up from $22.00) on shares of Cardlytics in a research report on Wednesday, July 24th. ValuEngine cut Cardlytics from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. Zacks Investment Research cut Cardlytics from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Finally, SunTrust Banks lifted their price target on Cardlytics from $25.00 to $35.00 and gave the company a “buy” rating in a research report on Friday, August 9th. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company. Cardlytics presently has an average rating of “Buy” and a consensus target price of $33.29.
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 firm has a market capitalization of $799.74 million, a price-to-earnings ratio of -17.28 and a beta of 1.49. The stock has a fifty day moving average of $35.11 and a 200-day moving average of $26.20.
Cardlytics (NASDAQ:CDLX) last issued its earnings results on Thursday, August 8th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.35) by $0.23. The business had revenue of $48.73 million for the quarter, compared to analysts’ expectations of $43.77 million. Cardlytics had a negative return on equity of 66.01% and a negative net margin of 19.60%. The company’s quarterly revenue was up 37.0% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.21) EPS. As a group, equities research analysts forecast that Cardlytics Inc will post -1.08 earnings per share for the current fiscal year.
In related news, insider Kirk Somers sold 1,500 shares of Cardlytics stock in a transaction 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 legal filing with the SEC, which is available through this hyperlink. Also, Director Tony Weisman sold 33,484 shares of Cardlytics stock in a transaction on Monday, August 12th. The stock was sold at an average price of $31.36, for a total value of $1,050,058.24. The disclosure for this sale can be found here. Insiders sold a total of 2,904,892 shares of company stock worth $90,275,936 over the last 90 days. Insiders own 21.90% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Gamco Investors INC. ET AL grew its holdings in shares of Cardlytics by 2.6% in the 2nd quarter. Gamco Investors INC. ET AL now owns 15,850 shares of the company’s stock worth $412,000 after acquiring an additional 400 shares during the last quarter. Bank of Montreal Can grew its holdings in shares of Cardlytics by 16,371.4% during the second 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 in the last quarter. Oppenheimer Asset Management Inc. purchased a new position in shares of Cardlytics during the second quarter valued at $60,000. Rockefeller Capital Management L.P. purchased a new position in shares of Cardlytics during the second quarter valued at $85,000. Finally, Acadian Asset Management LLC purchased a new position in shares of Cardlytics during the second quarter valued at $161,000. Institutional investors and hedge funds 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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