Cardlytics (NASDAQ:CDLX) Shares Gap Up to $46.47

Shares of Cardlytics, Inc. (NASDAQ:CDLXGet Rating) gapped up before the market opened on Thursday . The stock had previously closed at $46.47, but opened at $49.21. Cardlytics shares last traded at $46.16, with a volume of 409 shares traded.

CDLX has been the subject of a number of research analyst reports. Craig Hallum reduced their target price on Cardlytics from $100.00 to $70.00 in a research note on Wednesday, March 2nd. Needham & Company LLC reduced their target price on Cardlytics from $120.00 to $85.00 and set a “buy” rating for the company in a research note on Wednesday, March 2nd. Zacks Investment Research upgraded Cardlytics from a “sell” rating to a “hold” rating in a research note on Tuesday, January 4th. Finally, Wells Fargo & Company initiated coverage on Cardlytics in a research note on Tuesday, April 5th. They issued an “overweight” rating and a $72.00 target price for the company. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $83.00.

The stock has a market cap of $1.31 billion, a PE ratio of -9.74 and a beta of 2.32. The business has a 50 day moving average price of $53.80 and a 200 day moving average price of $65.88. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.27.

Cardlytics (NASDAQ:CDLXGet Rating) last announced its quarterly earnings results on Tuesday, March 1st. The company reported ($0.15) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.76) by $0.61. Cardlytics had a negative return on equity of 12.16% and a negative net margin of 48.13%. The company had revenue of $90.05 million during the quarter, compared to the consensus estimate of $76.59 million. During the same period in the previous year, the company posted ($0.32) earnings per share. Cardlytics’s revenue for the quarter was up 34.2% on a year-over-year basis. On average, research analysts predict that Cardlytics, Inc. will post -3.64 earnings per share for the current fiscal year.

In other Cardlytics news, Director Scott D. Grimes sold 6,000 shares of the stock in a transaction that occurred on Thursday, February 3rd. The stock was sold at an average price of $63.83, for a total transaction of $382,980.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Scott D. Grimes sold 4,098 shares of the stock in a transaction that occurred on Tuesday, April 19th. The stock was sold at an average price of $50.09, for a total value of $205,268.82. Following the transaction, the director now owns 243,606 shares in the company, valued at approximately $12,202,224.54. The disclosure for this sale can be found here. Insiders sold 30,025 shares of company stock valued at $1,706,517 over the last three months. 4.14% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently modified their holdings of the business. CAS Investment Partners LLC boosted its position in Cardlytics by 0.7% during the fourth quarter. CAS Investment Partners LLC now owns 5,186,466 shares of the company’s stock worth $342,774,000 after purchasing an additional 36,875 shares in the last quarter. FMR LLC boosted its holdings in Cardlytics by 2.3% in the 1st quarter. FMR LLC now owns 3,284,572 shares of the company’s stock worth $54,327,000 after buying an additional 72,847 shares during the last quarter. KPS Global Asset Management UK Ltd boosted its holdings in Cardlytics by 5.9% in the 4th quarter. KPS Global Asset Management UK Ltd now owns 1,246,830 shares of the company’s stock worth $82,403,000 after buying an additional 70,000 shares during the last quarter. Morgan Stanley boosted its holdings in Cardlytics by 24.1% in the 3rd quarter. Morgan Stanley now owns 934,559 shares of the company’s stock worth $78,446,000 after buying an additional 181,266 shares during the last quarter. Finally, Baillie Gifford & Co. boosted its holdings in Cardlytics by 23.1% in the 4th quarter. Baillie Gifford & Co. now owns 917,876 shares of the company’s stock worth $60,662,000 after buying an additional 172,072 shares during the last quarter. Institutional investors own 96.44% of the company’s stock.

About Cardlytics (NASDAQ:CDLX)

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.

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