Cardlytics (NASDAQ:CDLX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Tuesday.

According to Zacks, “Cardlytics, Inc. is engaged in developing a purchase intelligence platform. The purchase data includes debit, credit and bill pay data from online and in-store transactions. It helps the marketers identify, reach and influence likely buyers at scale, and measure the impact of marketing spends. The Company also operates an advertising channel, Cardlytics Direct. Cardlytics Direct delivers tailored marketing for marketers and financial institutions. Cardlytics, Inc. is based in ATLANTA, United States. “

Other equities research analysts have also recently issued research reports about the stock. Bank of America reissued a “hold” rating and issued a $22.00 price target on shares of Cardlytics in a research note on Friday, August 17th. KeyCorp dropped their price target on shares of Cardlytics from $30.00 to $28.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 15th. Finally, SunTrust Banks reissued a “buy” rating and issued a $27.00 price target on shares of Cardlytics in a research note on Tuesday, September 11th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. Cardlytics currently has an average rating of “Buy” and a consensus target price of $24.40.

NASDAQ:CDLX opened at $20.97 on Tuesday. The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 1.29. The company has a market cap of $507.41 million and a PE ratio of -2.62. Cardlytics has a 1-year low of $11.10 and a 1-year high of $28.29.

Cardlytics (NASDAQ:CDLX) last released its quarterly earnings results on Tuesday, August 14th. The company reported ($0.21) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.53) by $0.32. The company had revenue of $35.57 million during the quarter, compared to analyst estimates of $34.89 million. Cardlytics’s quarterly revenue was up 8.4% on a year-over-year basis. Analysts expect that Cardlytics will post -2.39 earnings per share for the current fiscal year.

In related news, Director Polaris Venture Management Co. sold 150,000 shares of Cardlytics stock in a transaction on Thursday, September 13th. The shares were sold at an average price of $25.04, for a total value of $3,756,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Scott D. Grimes sold 1,445 shares of Cardlytics stock in a transaction on Friday, August 17th. The shares were sold at an average price of $20.66, for a total transaction of $29,853.70. The disclosure for this sale can be found here. Insiders sold a total of 155,194 shares of company stock worth $3,863,308 in the last three months.

Institutional investors have recently added to or reduced their stakes in the stock. California State Teachers Retirement System acquired a new stake in Cardlytics in the 1st quarter valued at $122,000. Schwab Charles Investment Management Inc. acquired a new stake in Cardlytics during the 2nd quarter worth $214,000. California Public Employees Retirement System acquired a new stake in Cardlytics during the 1st quarter worth $146,000. Barclays PLC acquired a new stake in Cardlytics during the 1st quarter worth $175,000. Finally, Bank of New York Mellon Corp boosted its stake in Cardlytics by 32.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 15,553 shares of the company’s stock worth $338,000 after purchasing an additional 3,846 shares during the last quarter. 49.66% of the stock is currently owned by hedge funds and other institutional investors.

Cardlytics Company Profile

Cardlytics, Inc operates a purchase intelligence platform in the United States and the United Kingdom. It operates in two segments, Cardlytics Direct and Other Platform Solutions. The company's platform is the Cardlytics Direct solution, a proprietary native bank advertising channel that enables marketers to reach consumers through their trusted and frequently visited online and mobile banking channels.

Read More: How Do You Calculate Return on Equity (ROE)?

Get a free copy of the Zacks research report on Cardlytics (CDLX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Cardlytics (NASDAQ:CDLX)

Receive News & Ratings for Cardlytics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cardlytics and related companies with MarketBeat.com's FREE daily email newsletter.