Cardlytics (NASDAQ:CDLX) Stock Gets Price Target Reduction from Lake Street Capital

Cardlytics (NASDAQ:CDLX) had its price objective reduced by research analysts at Lake Street Capital from $4.00 to $2.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has a “hold” rating on the stock. Lake Street Capital‘s target price indicates a potential upside of 2.56% from the company’s previous close.

A number of other research analysts have also weighed in on CDLX. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cardlytics in a research note on Friday, October 2nd. Wall Street Zen lowered Cardlytics from a “hold” rating to a “sell” rating in a research note on Saturday, September 19th. Two equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $6.00.

Cardlytics Price Performance

CDLX opened at $1.95 on Friday. The company has a market cap of $11.33 million, a price-to-earnings ratio of -0.30 and a beta of 0.79. Cardlytics has a 52-week low of $1.57 and a 52-week high of $15.55. The firm’s fifty day simple moving average is $2.81 and its two-hundred day simple moving average is $5.97.

Cardlytics (NASDAQ:CDLX) last announced its earnings results on Thursday, November 5th. The company reported ($1.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.93) by $0.90. The business had revenue of $32.88 million for the quarter, compared to analyst estimates of $36.35 million. Cardlytics had a negative net margin of 22.82% and a negative return on equity of 956.56%. On average, research analysts forecast that Cardlytics will post -3.89 EPS for the current year.

Insider Buying and Selling

In other Cardlytics news, CEO Amit Gupta sold 10,351 shares of the firm’s stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $2.71, for a total value of $28,051.21. Following the transaction, the chief executive officer owned 146,288 shares in the company, valued at approximately $396,440.48. This trade represents a 6.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last three months, insiders sold 31,194 shares of company stock valued at $100,568. 5.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Cardlytics

A hedge fund recently bought a new stake in Cardlytics stock. Worldly Partners Management LLC bought a new stake in Cardlytics, Inc. (NASDAQ:CDLX) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 115,798 shares of the company’s stock, valued at approximately $520,000. Cardlytics comprises 0.4% of Worldly Partners Management LLC’s holdings, making the stock its 3rd largest holding. Worldly Partners Management LLC owned 1.99% of Cardlytics as of its most recent filing with the Securities & Exchange Commission. 68.10% of the stock is currently owned by institutional investors and hedge funds.

Cardlytics Company Profile

Cardlytics, Inc is a financial technology and advertising company that operates a marketing platform through banks and other financial institutions. Its technology connects consumers with targeted merchant offers based on transaction data, while providing advertisers with a way to reach customers through digital banking applications and other financial channels.

The company’s platform supports merchant-funded rewards, cash-back promotions and purchase-based advertising. Participating consumers can receive offers from retailers, restaurants, travel providers and other businesses, while advertisers can use Cardlytics’ data and measurement tools to target audiences and evaluate whether campaigns lead to purchases.

Cardlytics was founded in 2008 by Scott Grimes and Lynne Laube and is headquartered in Atlanta, Georgia.