SunTrust Banks assumed coverage on shares of Cardlytics (NASDAQ:CDLX) in a report issued on Tuesday morning, Marketbeat Ratings reports. The brokerage issued a buy rating and a $25.00 price objective on the stock. SunTrust Banks also issued estimates for Cardlytics’ FY2017 earnings at ($1.37) EPS, Q1 2018 earnings at ($0.61) EPS, Q2 2018 earnings at ($0.43) EPS, Q3 2018 earnings at ($0.55) EPS, Q4 2018 earnings at ($0.20) EPS, FY2018 earnings at ($1.78) EPS, FY2019 earnings at ($0.79) EPS and FY2020 earnings at $0.34 EPS.
“We believe this discount is due to its unique end-market, which requires a longer sales cycle, limited inventory, large partnerships and lack of easily identifyable publicly-traded comps. As the Street becomes more familiar with this fresh IPO, we believe the discount to peers is likely to close. Outgrowing the broader online ad market, with material margin leverage over time. We estimate CDLX will register 29% CAGR over the next 5 years to $582M in FY23, with EBITDA margins of ~20%. We project the company will be EBITDA and GAAP EPS negative in 2018, turning EBITDA positive next year (2019) and GAAP EPS positive in 2020.”,” SunTrust Banks’ analyst commented.
Several other research analysts also recently issued reports on CDLX. Wells Fargo & Co began coverage on Cardlytics in a research note on Tuesday. They set an outperform rating and a $22.00 price target for the company. Bank of America began coverage on Cardlytics in a research note on Tuesday. They set a neutral rating and a $19.00 price target for the company. KeyCorp began coverage on Cardlytics in a research note on Tuesday. They set an overweight rating and a $23.00 price target for the company. Finally, JPMorgan Chase & Co. began coverage on Cardlytics in a research note on Tuesday. They set an overweight rating and a $23.00 price target for the company. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $22.40.
In other news, CEO Scott D. Grimes purchased 2,600 shares of the business’s stock in a transaction dated Tuesday, February 13th. The stock was acquired at an average price of $13.00 per share, with a total value of $33,800.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Cardlytics Inc is a United States-based provider of card-linked marketing solutions. The Company provides suite of technologies that enables banks to leverage consumer purchase data and ensure privacy for their customers for online and mobile banking. Cardlytics is the advertising and technology company that provides Card-Linked Marketing (CLM).
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