Bank of America Reiterates “Neutral” Rating for Cardlytics (NASDAQ:CDLX)

Cardlytics (NASDAQ:CDLX)‘s stock had its “neutral” rating reaffirmed by stock analysts at Bank of America in a research note issued to investors on Thursday, Marketbeat reports. They currently have a $11.00 price objective on the stock. Bank of America‘s price target indicates a potential upside of 36.82% from the stock’s current price.

A number of other equities analysts have also recently weighed in on CDLX. Northland Securities started coverage on shares of Cardlytics in a research report on Tuesday. They set an “outperform” rating and a $14.00 price target on the stock. Lake Street Capital lifted their price target on shares of Cardlytics from $13.00 to $18.00 and gave the stock a “buy” rating in a research report on Friday, March 15th. Craig Hallum reduced their price target on shares of Cardlytics from $18.00 to $12.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. Northland Capmk raised shares of Cardlytics to a “strong-buy” rating in a research report on Tuesday. Finally, Needham & Company LLC reissued a “buy” rating and set a $12.00 price target on shares of Cardlytics in a research report on Tuesday, June 11th. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.67.

Cardlytics Price Performance

CDLX opened at $8.04 on Thursday. The company has a fifty day moving average price of $10.41 and a two-hundred day moving average price of $9.55. The company has a debt-to-equity ratio of 1.30, a quick ratio of 2.13 and a current ratio of 2.13. Cardlytics has a 52 week low of $5.53 and a 52 week high of $20.52. The firm has a market capitalization of $392.22 million, a PE ratio of -1.82 and a beta of 1.67.

Cardlytics (NASDAQ:CDLX) last released its earnings results on Wednesday, May 8th. The company reported ($0.35) EPS for the quarter. The business had revenue of $67.61 million for the quarter. Cardlytics had a negative return on equity of 25.36% and a negative net margin of 55.23%.

Insider Activity at Cardlytics

In related news, major shareholder Clifford Sosin acquired 225,000 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The shares were acquired at an average cost of $8.73 per share, with a total value of $1,964,250.00. Following the transaction, the insider now owns 6,361,113 shares of the company’s stock, valued at approximately $55,532,516.49. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, major shareholder Clifford Sosin acquired 225,000 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The shares were acquired at an average cost of $8.73 per share, with a total value of $1,964,250.00. Following the transaction, the insider now owns 6,361,113 shares of the company’s stock, valued at approximately $55,532,516.49. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Karim Saad Temsamani sold 43,129 shares of the business’s stock in a transaction dated Tuesday, June 4th. The stock was 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 in the company, valued at $3,334,834.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 79,435 shares of company stock valued at $828,269. 4.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cardlytics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in Cardlytics by 13.0% during the 3rd quarter. Vanguard Group Inc. now owns 2,011,705 shares of the company’s stock worth $33,193,000 after buying an additional 231,303 shares in the last quarter. General Equity Holdings LP lifted its position in Cardlytics by 31.0% during the 4th quarter. General Equity Holdings LP now owns 624,058 shares of the company’s stock worth $5,748,000 after buying an additional 147,843 shares in the last quarter. Clear Street Markets LLC bought a new stake in Cardlytics during the 4th quarter worth about $199,000. Invesco Ltd. lifted its position in Cardlytics by 538.1% during the 3rd quarter. Invesco Ltd. now owns 803,241 shares of the company’s stock worth $13,253,000 after buying an additional 677,354 shares in the last quarter. Finally, LPL Financial LLC lifted its position in Cardlytics by 27.5% during the 3rd quarter. LPL Financial LLC now owns 424,150 shares of the company’s stock worth $6,998,000 after buying an additional 91,400 shares in the last quarter. 68.10% of the stock is owned by institutional investors.

About Cardlytics

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.