SunTrust Banks Reiterates Buy Rating for Cardlytics (CDLX)
SunTrust Banks reissued their buy rating on shares of Cardlytics (NASDAQ:CDLX) in a report issued on Monday morning, AnalystRatings.com reports. They currently have a $25.00 target price on the stock.
“We maintain a Buy/$25 PT for CDLX ahead of 1Q results on 5/9. We expect CDLX to report an in line quarter with ~10% Y/Y revenue growth against mgmt’s guidance of $34.5-36.5M. We also expect mgmt to provide better visibility into the upcoming ramp in Y/Y revenue growth later this year, given the addition of JPM and Wells, and the big ramp in MAUs. While monetization growth has proven slower than expected since IPO, we continue to believe that it will materialize given Cardlytics’ effective and differentiated offering to marketers. on our FY19 ests, we find the stock compelling. 1Q19 Print. We are expecting revenue and adj. EBITDA of $36.1M/($6.3) vs. Street expectations of $36.1M/($5.8M), and vs. management guidance of $34.5-36.5M. Our estimates imply a ~10% Y/ Y growth rate.”,” SunTrust Banks’ analyst wrote.
A number of other research firms have also commented on CDLX. Zacks Investment Research lowered shares of Cardlytics from a buy rating to a hold rating in a research report on Friday, March 8th. Bank of America upgraded shares of Cardlytics from a neutral rating to a buy rating and set a $15.00 target price for the company in a research report on Tuesday, January 15th. Finally, ValuEngine lowered shares of Cardlytics from a strong-buy rating to a buy rating in a research report on Tuesday, April 23rd. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock has a consensus rating of Buy and a consensus target price of $22.86.
Cardlytics (NASDAQ:CDLX) last released its quarterly earnings results on Tuesday, March 5th. The company reported ($0.51) EPS for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.11). The firm had revenue of $47.82 million for the quarter, compared to analysts’ expectations of $45.32 million. Cardlytics had a negative net margin of 35.20% and a negative return on equity of 92.07%. Sell-side analysts forecast that Cardlytics will post -2.06 EPS for the current fiscal year.
In related news, insider Kirk Somers sold 2,591 shares of the company’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $15.67, for a total value of $40,600.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO David Thomas Evans sold 2,634 shares of the company’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $15.42, for a total transaction of $40,616.28. The disclosure for this sale can be found here. Insiders sold 22,087 shares of company stock valued at $348,050 over the last quarter.
A number of institutional investors have recently bought and sold shares of CDLX. Canaan Partners VIII LLC bought a new stake in Cardlytics in the fourth quarter worth $25,647,000. Frontier Capital Management Co. LLC lifted its stake in Cardlytics by 105.6% in the fourth quarter. Frontier Capital Management Co. LLC now owns 1,462,777 shares of the company’s stock worth $15,842,000 after purchasing an additional 751,148 shares during the last quarter. Cannell Capital LLC bought a new stake in Cardlytics in the fourth quarter worth $5,491,000. Jennison Associates LLC lifted its stake in Cardlytics by 58.3% in the fourth quarter. Jennison Associates LLC now owns 1,264,354 shares of the company’s stock worth $13,693,000 after purchasing an additional 465,855 shares during the last quarter. Finally, Penn Capital Management Co. Inc. bought a new stake in Cardlytics in the fourth quarter worth $1,665,000. 80.90% of the stock is owned by institutional investors and hedge funds.
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.
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