Lake Street Capital Issues Pessimistic Forecast for Cardlytics (NASDAQ:CDLX) Stock Price

Cardlytics (NASDAQ:CDLX) had its target price dropped by Lake Street Capital from $4.00 to $2.00 in a report released on Friday, Benzinga reports. The firm currently has a “hold” rating on the stock. Lake Street Capital‘s target price would indicate a potential upside of 2.56% from the stock’s previous close.

Other research analysts have also issued reports about the stock. Wall Street Zen lowered shares of Cardlytics from a “hold” rating to a “sell” rating in a report on Saturday, September 19th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cardlytics in a research note on Friday, October 2nd. Two research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $6.00.

Cardlytics Price Performance

NASDAQ:CDLX opened at $1.95 on Friday. The company has a market cap of $11.33 million, a PE ratio of -0.30 and a beta of 0.79. The business’s 50 day moving average is $2.81 and its two-hundred day moving average is $5.97. Cardlytics has a 52 week low of $1.57 and a 52 week high of $15.55.

Cardlytics (NASDAQ:CDLX) last issued its quarterly earnings results on Thursday, November 5th. The company reported ($1.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.93) by $0.90. The business had revenue of $32.88 million during the quarter, compared to the consensus estimate of $36.35 million. Cardlytics had a negative return on equity of 956.56% and a negative net margin of 22.82%. As a group, sell-side analysts expect that Cardlytics will post -3.89 EPS for the current fiscal year.

Insider Transactions at Cardlytics

In other Cardlytics news, CEO Amit Gupta sold 10,351 shares of the business’s stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $2.71, for a total value of $28,051.21. Following the transaction, the chief executive officer owned 146,288 shares in the company, valued at $396,440.48. The trade was a 6.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders sold a total of 31,194 shares of company stock worth $100,568 over the last ninety days. 5.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Cardlytics

An institutional investor recently raised its stake in Cardlytics stock. Renaissance Technologies LLC grew its holdings in shares of Cardlytics, Inc. (NASDAQ:CDLX) by 108.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 112,500 shares of the company’s stock after purchasing an additional 58,500 shares during the quarter. Renaissance Technologies LLC owned about 0.20% of Cardlytics worth $118,000 as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 68.10% of the company’s stock.

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.