Cardlytics (NASDAQ:CDLX) Price Target Cut to $2.00 by Analysts at Lake Street Capital

Cardlytics (NASDAQ:CDLX) had its target price cut by research analysts at Lake Street Capital from $4.00 to $2.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has a “hold” rating on the stock. Lake Street Capital‘s target price suggests a potential upside of 2.56% from the stock’s current price.

CDLX has been the subject of a number of other reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Cardlytics in a report on Friday, October 2nd. Wall Street Zen cut shares of Cardlytics from a “hold” rating to a “sell” rating in a research note on Saturday, September 19th. Two analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $6.00.

Cardlytics Stock Performance

Shares of CDLX opened at $1.95 on Friday. The business’s 50-day moving average is $2.81 and its two-hundred day moving average is $5.97. The company has a market capitalization of $11.33 million, a P/E ratio of -0.30 and a beta of 0.79. Cardlytics has a fifty-two week low of $1.57 and a fifty-two week 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. Cardlytics had a negative return on equity of 956.56% and a negative net margin of 22.82%. The business had revenue of $32.88 million during the quarter, compared to analysts’ expectations of $36.35 million. Analysts forecast that Cardlytics will post -3.89 EPS for the current year.

Insider Activity

In other news, CEO Amit Gupta sold 10,351 shares of the stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $2.71, for a total transaction of $28,051.21. Following the sale, the chief executive officer directly owned 146,288 shares of the company’s stock, valued at $396,440.48. This represents a 6.61% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Over the last 90 days, insiders have sold 31,194 shares of company stock worth $100,568. Corporate insiders own 5.90% of the company’s stock.

Hedge Funds Weigh In On Cardlytics

An institutional investor recently bought a new position in Cardlytics stock. Worldly Partners Management LLC acquired a new stake in Cardlytics, Inc. (NASDAQ:CDLX) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 115,798 shares of the company’s stock, valued at approximately $520,000. Cardlytics accounts for approximately 0.4% of Worldly Partners Management LLC’s investment portfolio, making the stock its 3rd largest holding. Worldly Partners Management LLC owned about 1.99% of Cardlytics at the end of the most recent quarter. 68.10% of the stock is owned by institutional investors and hedge funds.

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.