Cardlytics (NASDAQ:CDLX) Raised to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Cardlytics (NASDAQ:CDLX) from a hold rating to a buy rating in a research note released on Wednesday, Zacks.com reports. The brokerage currently has $31.00 target price on the stock.

According to Zacks, “Cardlytics, Inc. is engaged in developing a purchase intelligence platform. The purchase data includes debit, credit and bill pay data from online and in-store transactions. It helps the marketers identify, reach and influence likely buyers at scale, and measure the impact of marketing spends. The Company also operates an advertising channel, Cardlytics Direct. Cardlytics Direct delivers tailored marketing for marketers and financial institutions. Cardlytics, Inc. is based in ATLANTA, United States. “

A number of other equities analysts have also commented on the stock. KeyCorp boosted their price objective on shares of Harsco from $30.00 to $35.00 and gave the stock an overweight rating in a report on Friday, May 10th. ValuEngine upgraded shares of Xylem from a hold rating to a buy rating in a report on Tuesday, April 23rd. SunTrust Banks reiterated a buy rating and issued a $25.00 price objective on shares of Cardlytics in a report on Tuesday, May 21st. Finally, William Blair began coverage on shares of Cardlytics in a report on Monday, July 1st. They issued an outperform rating on the stock. Nine equities research analysts have rated the stock with a buy rating, Cardlytics has a consensus rating of Buy and an average price target of $24.00.

Shares of Cardlytics stock opened at $27.70 on Wednesday. The business’s fifty day simple moving average is $26.06. The company has a current ratio of 2.37, a quick ratio of 2.37 and a debt-to-equity ratio of 0.99. Cardlytics has a twelve month low of $9.80 and a twelve month high of $30.38. The stock has a market cap of $630.82 million, a PE ratio of -12.94 and a beta of 1.75.

Cardlytics (NASDAQ:CDLX) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.30) EPS for the quarter, topping analysts’ consensus estimates of ($0.61) by $0.31. Cardlytics had a negative net margin of 25.53% and a negative return on equity of 84.02%. The firm had revenue of $35.99 million for the quarter, compared to analyst estimates of $36.11 million. During the same quarter in the previous year, the business posted ($0.35) EPS. The firm’s revenue was up 10.0% compared to the same quarter last year. On average, analysts predict that Cardlytics will post -1.12 earnings per share for the current year.

In other news, CEO Scott D. Grimes sold 4,000 shares of the company’s stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $23.76, for a total value of $95,040.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Bryce Youngren sold 100,000 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $23.04, for a total transaction of $2,304,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 365,711 shares of company stock worth $9,170,512. Company insiders own 21.90% of the company’s stock.

Several institutional investors have recently modified their holdings of CDLX. New York State Common Retirement Fund grew its position in shares of Cardlytics by 80.0% during the 4th quarter. New York State Common Retirement Fund now owns 9,000 shares of the company’s stock valued at $97,000 after buying an additional 4,000 shares during the last quarter. Gamco Investors INC. ET AL bought a new stake in shares of Cardlytics during the 1st quarter valued at about $256,000. Marshall Wace LLP bought a new stake in shares of Cardlytics during the 1st quarter valued at about $336,000. CIBC Private Wealth Group LLC grew its position in shares of Cardlytics by 6.7% during the 1st quarter. CIBC Private Wealth Group LLC now owns 37,745 shares of the company’s stock valued at $624,000 after buying an additional 2,375 shares during the last quarter. Finally, Raymond James & Associates grew its position in shares of Cardlytics by 281.6% during the 4th quarter. Raymond James & Associates now owns 53,800 shares of the company’s stock valued at $583,000 after buying an additional 39,700 shares during the last quarter. Institutional investors and hedge funds own 73.51% of the company’s stock.

Cardlytics Company Profile

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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Analyst Recommendations for Cardlytics (NASDAQ:CDLX)

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