Needham & Company LLC Trims Cardlytics (NASDAQ:CDLX) Target Price to $19.00

Cardlytics (NASDAQ:CDLXGet Rating) had its price objective decreased by Needham & Company LLC from $24.00 to $19.00 in a research note released on Wednesday morning, Marketbeat Ratings reports. Needham & Company LLC currently has a buy rating on the stock.

Several other equities analysts have also commented on the stock. Bank of America lowered shares of Cardlytics from a neutral rating to an underperform rating and set a $14.00 price target for the company. in a research report on Tuesday, July 12th. Craig Hallum lowered shares of Cardlytics from a buy rating to a hold rating and dropped their price target for the company from $50.00 to $20.00 in a research note on Tuesday, July 12th. JPMorgan Chase & Co. reduced their price objective on Cardlytics from $47.00 to $35.00 and set a neutral rating for the company in a research report on Wednesday, June 29th. Finally, Wells Fargo & Company cut Cardlytics from an overweight rating to an equal weight rating and lowered their target price for the company from $72.00 to $15.00 in a research report on Thursday, July 14th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Hold and an average price target of $20.40.

Cardlytics Price Performance

Shares of CDLX opened at $15.04 on Wednesday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.29 and a current ratio of 0.90. Cardlytics has a 12 month low of $11.95 and a 12 month high of $99.47. The stock has a fifty day moving average price of $20.61 and a 200 day moving average price of $39.90.

Insiders Place Their Bets

In other news, insider Kirk Somers sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 22nd. The shares were sold at an average price of $25.05, for a total value of $25,050.00. Following the completion of the sale, the insider now directly owns 45,317 shares of the company’s stock, valued at approximately $1,135,190.85. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director John V. Balen bought 5,000 shares of the stock in a transaction that occurred on Friday, May 27th. The shares were purchased at an average cost of $27.40 per share, with a total value of $137,000.00. Following the completion of the acquisition, the director now directly owns 41,798 shares in the company, valued at $1,145,265.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kirk Somers sold 1,000 shares of the business’s stock in a transaction dated Wednesday, June 22nd. The stock was sold at an average price of $25.05, for a total transaction of $25,050.00. Following the completion of the sale, the insider now owns 45,317 shares in the company, valued at $1,135,190.85. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,250 shares of company stock worth $46,260. 3.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Cardlytics

Hedge funds have recently made changes to their positions in the business. ARK Investment Management LLC lifted its stake in Cardlytics by 11.9% during the first quarter. ARK Investment Management LLC now owns 3,232 shares of the company’s stock valued at $178,000 after purchasing an additional 344 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Cardlytics by 280.0% during the 1st quarter. Nisa Investment Advisors LLC now owns 3,800 shares of the company’s stock worth $209,000 after acquiring an additional 2,800 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Cardlytics by 21.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,117 shares of the company’s stock worth $272,000 after acquiring an additional 725 shares during the last quarter. Hsbc Holdings PLC raised its position in shares of Cardlytics by 41.2% during the first quarter. Hsbc Holdings PLC now owns 5,149 shares of the company’s stock worth $287,000 after purchasing an additional 1,503 shares during the period. Finally, American Trust purchased a new stake in shares of Cardlytics during the fourth quarter valued at $294,000. Institutional investors and hedge funds own 97.57% of the company’s stock.

Cardlytics Company Profile

(Get Rating)

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.

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