Cardlytics (NASDAQ:CDLX) Cut to Underperform at Bank of America

Cardlytics (NASDAQ:CDLX) was downgraded by stock analysts at Bank of America from a “neutral” rating to an “underperform” rating in a research report issued to clients and investors on Thursday, Briefing.com reports. They currently have a $3.50 price target on the stock, down from their prior price target of $4.00. Bank of America‘s price objective would suggest a potential downside of 5.15% from the company’s previous close.

A number of other analysts have also commented on the stock. Northland Securities decreased their price target on shares of Cardlytics from $14.00 to $7.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Needham & Company LLC lowered shares of Cardlytics from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. Craig Hallum lowered shares of Cardlytics from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. Lake Street Capital lowered shares of Cardlytics from a “buy” rating to a “hold” rating and reduced their target price for the stock from $18.00 to $5.00 in a research note on Thursday, August 8th. Finally, Northland Capmk upgraded shares of Cardlytics to a “strong-buy” rating in a research note on Tuesday, June 18th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $7.90.

Cardlytics Stock Down 3.7 %

Cardlytics stock opened at $3.69 on Thursday. The company has a quick ratio of 2.13, a current ratio of 2.13 and a debt-to-equity ratio of 1.30. Cardlytics has a 12-month low of $2.89 and a 12-month high of $20.52. The firm’s fifty day moving average is $7.82 and its 200 day moving average is $9.51. The company has a market capitalization of $180.01 million, a PE ratio of -0.83 and a beta of 1.65.

Cardlytics (NASDAQ:CDLX) last released its earnings results on Wednesday, August 7th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.12. Cardlytics had a negative net margin of 55.23% and a negative return on equity of 25.36%. The company had revenue of $69.64 million for the quarter, compared to the consensus estimate of $75.39 million. During the same quarter in the previous year, the company earned ($0.57) EPS. Cardlytics’s quarterly revenue was down 9.2% compared to the same quarter last year. As a group, sell-side analysts predict that Cardlytics will post -1.8 EPS for the current fiscal year.

Insider Buying and Selling

In other Cardlytics news, CEO Karim Saad Temsamani sold 43,129 shares of the company’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $8.65, for a total transaction of $373,065.85. Following the sale, the chief executive officer now directly owns 385,530 shares of the company’s stock, valued at $3,334,834.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Cardlytics news, CEO Karim Saad Temsamani sold 43,129 shares of the company’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $8.65, for a total transaction of $373,065.85. Following the sale, the chief executive officer now directly owns 385,530 shares of the company’s stock, valued at $3,334,834.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Scott A. Hill acquired 40,000 shares of the company’s stock in a transaction on Monday, August 12th. The shares were acquired at an average cost of $3.58 per share, for a total transaction of $143,200.00. Following the completion of the acquisition, the director now owns 40,000 shares of the company’s stock, valued at $143,200. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 86,742 shares of company stock valued at $735,905. 4.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Cardlytics

A number of institutional investors and hedge funds have recently modified their holdings of CDLX. Check Capital Management Inc. CA lifted its holdings in shares of Cardlytics by 14.0% in the fourth quarter. Check Capital Management Inc. CA now owns 23,200 shares of the company’s stock worth $214,000 after buying an additional 2,850 shares in the last quarter. Shikiar Asset Management Inc. lifted its holdings in shares of Cardlytics by 96.7% in the fourth quarter. Shikiar Asset Management Inc. now owns 29,500 shares of the company’s stock worth $272,000 after buying an additional 14,500 shares in the last quarter. Los Angeles Capital Management LLC lifted its holdings in shares of Cardlytics by 193.4% in the fourth quarter. Los Angeles Capital Management LLC now owns 78,546 shares of the company’s stock worth $723,000 after buying an additional 51,776 shares in the last quarter. Jump Financial LLC purchased a new stake in shares of Cardlytics in the fourth quarter worth about $355,000. Finally, Massachusetts Financial Services Co. MA purchased a new stake in shares of Cardlytics in the fourth quarter worth about $719,000. 68.10% of the stock is owned by hedge funds and other institutional investors.

Cardlytics Company Profile

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.