Cardlytics (NASDAQ:CDLX) Downgraded by Bank of America

Bank of America cut shares of Cardlytics (NASDAQ:CDLX) from a neutral rating to an underperform rating in a report issued on Thursday, MarketBeat Ratings reports. The firm currently has $3.50 price target on the stock, down from their previous price target of $4.00.

A number of other analysts have also recently weighed in on the stock. Northland Securities reduced their price objective 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. Lake Street Capital lowered shares of Cardlytics from a buy rating to a hold rating and cut their target price for the stock from $18.00 to $5.00 in a research report on Thursday, August 8th. Craig Hallum downgraded Cardlytics from a buy rating to a hold rating in a research report on Thursday, August 8th. Northland Capmk raised Cardlytics to a strong-buy rating in a research report on Tuesday, June 18th. Finally, Needham & Company LLC downgraded Cardlytics from a buy rating to a hold rating in a research note on Thursday, August 8th. One research analyst has rated the stock with a sell rating and five have given a hold rating to the stock. According to data from MarketBeat.com, Cardlytics currently has a consensus rating of Hold and a consensus price target of $7.50.

Cardlytics Stock Down 1.9 %

CDLX stock opened at $3.68 on Thursday. The firm has a market cap of $179.52 million, a PE ratio of -0.83 and a beta of 1.65. Cardlytics has a 1 year low of $2.89 and a 1 year high of $20.52. The company has a fifty day simple moving average of $7.61 and a 200 day simple moving average of $9.44. The company has a current ratio of 2.13, a quick ratio of 2.13 and a debt-to-equity ratio of 1.30.

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

Insider Transactions at Cardlytics

In related news, insider Nicholas Hollmeyer Lynton sold 5,956 shares of the stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $7.95, for a total transaction of $47,350.20. Following the completion of the sale, the insider now owns 78,593 shares in the company, valued at approximately $624,814.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Scott A. Hill acquired 40,000 shares of the stock in a transaction on Monday, August 12th. The stock was purchased at an average price of $3.58 per share, for a total transaction of $143,200.00. Following the transaction, the director now owns 40,000 shares of the company’s stock, valued at approximately $143,200. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, insider Nicholas Hollmeyer Lynton sold 5,956 shares of Cardlytics stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $7.95, for a total transaction of $47,350.20. Following the sale, the insider now owns 78,593 shares of the company’s stock, valued at approximately $624,814.35. The disclosure for this sale can be found here. In the last three months, insiders sold 86,742 shares of company stock valued at $735,905. Company insiders own 4.40% of the company’s stock.

Institutional Investors Weigh In On Cardlytics

Institutional investors have recently modified their holdings of the business. Canton Hathaway LLC grew its position in shares of Cardlytics by 95.7% during the 2nd quarter. Canton Hathaway LLC now owns 4,500 shares of the company’s stock worth $37,000 after buying an additional 2,200 shares during the period. XTX Topco Ltd bought a new position in Cardlytics during the 2nd quarter worth approximately $107,000. Banco Santander S.A. bought a new position in Cardlytics during the 1st quarter worth approximately $199,000. Quest Partners LLC boosted its stake in Cardlytics by 160.4% during the 2nd quarter. Quest Partners LLC now owns 17,956 shares of the company’s stock worth $147,000 after acquiring an additional 11,061 shares during the last quarter. Finally, Clear Street Markets LLC bought a new position in Cardlytics during the 4th quarter worth approximately $199,000. Institutional investors and hedge funds own 68.10% of the company’s stock.

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.