Cardlytics (NASDAQ:CDLX) Given New $2.00 Price Target at Lake Street Capital

Cardlytics (NASDAQ:CDLX) had its price objective decreased by Lake Street Capital from $4.00 to $2.00 in a research report sent to investors on Friday morning,Benzinga reports. Lake Street Capital currently has a hold rating on the stock.

CDLX has been the topic of a number of other reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Cardlytics in a research note on Friday, October 2nd. Wall Street Zen lowered shares of 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 given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and an average price target of $6.00.

Cardlytics Stock Performance

Cardlytics stock opened at $1.95 on Friday. The stock’s 50 day moving average price is $2.81 and its 200 day moving average price is $5.97. The firm has a market capitalization of $11.33 million, a PE ratio of -0.30 and a beta of 0.79. Cardlytics has a one year low of $1.57 and a one year high of $15.55.

Cardlytics (NASDAQ:CDLX) last issued its quarterly earnings data 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 company had revenue of $32.88 million during the quarter, compared to the consensus estimate of $36.35 million. Cardlytics had a negative net margin of 22.82% and a negative return on equity of 956.56%. On average, analysts forecast that Cardlytics will post -3.89 earnings per share for the current fiscal year.

Insider Transactions at Cardlytics

In other Cardlytics news, CEO Amit Gupta sold 10,351 shares of Cardlytics stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $2.71, for a total value of $28,051.21. Following the completion of the transaction, the chief executive officer owned 146,288 shares of the company’s stock, valued at $396,440.48. The trade was a 6.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders sold 31,194 shares of company stock worth $100,568 in the last quarter. Company insiders own 5.90% of the company’s stock.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Cardlytics stock. Worldly Partners Management LLC acquired a new position in shares of Cardlytics, Inc. (NASDAQ:CDLX) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 115,798 shares of the company’s stock, valued at approximately $520,000. Cardlytics accounts for 0.4% of Worldly Partners Management LLC’s portfolio, making the stock its 3rd biggest position. Worldly Partners Management LLC owned approximately 1.99% of Cardlytics at the end of the most recent quarter. 68.10% of the stock is currently owned by hedge funds and other institutional investors.

About Cardlytics

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.