Needham & Company LLC Reiterates Hold Rating for Cardlytics (NASDAQ:CDLX)

Needham & Company LLC restated their hold rating on shares of Cardlytics (NASDAQ:CDLX) in a research note issued to investors on Friday,Benzinga reports.

A number of other equities analysts also recently commented on CDLX. Evercore ISI assumed coverage on Cardlytics in a research report on Friday, October 11th. They set an “in-line” rating and a $4.00 price objective on the stock. Craig Hallum upgraded Cardlytics from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $6.92.

Cardlytics Price Performance

Shares of NASDAQ CDLX opened at $3.16 on Friday. The stock has a market capitalization of $160.59 million, a price-to-earnings ratio of -0.52 and a beta of 1.53. Cardlytics has a 52 week low of $2.76 and a 52 week high of $20.52. The firm has a 50-day simple moving average of $3.69 and a 200-day simple moving average of $4.55. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 2.40.

Cardlytics (NASDAQ:CDLX) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.15) EPS for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.18. The company had revenue of $67.06 million during the quarter, compared to the consensus estimate of $57.77 million. Cardlytics had a negative net margin of 93.55% and a negative return on equity of 110.67%. Cardlytics’s quarterly revenue was down 15.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.26) EPS. On average, equities analysts predict that Cardlytics will post -1.52 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Cardlytics news, CEO Amit Gupta sold 22,607 shares of the stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $3.85, for a total transaction of $87,036.95. Following the completion of the transaction, the chief executive officer now owns 178,519 shares of the company’s stock, valued at $687,298.15. This trade represents a 11.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Alexis Desieno sold 8,854 shares of Cardlytics stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $3.67, for a total transaction of $32,494.18. Following the sale, the chief financial officer now owns 121,976 shares of the company’s stock, valued at approximately $447,651.92. This represents a 6.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 69,007 shares of company stock worth $251,297. Company insiders own 4.40% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CDLX. RBF Capital LLC grew its stake in shares of Cardlytics by 311.9% in the third quarter. RBF Capital LLC now owns 488,128 shares of the company’s stock valued at $1,562,000 after buying an additional 369,620 shares in the last quarter. GSA Capital Partners LLP grew its position in Cardlytics by 1,273.2% in the 3rd quarter. GSA Capital Partners LLP now owns 382,315 shares of the company’s stock valued at $1,223,000 after acquiring an additional 354,474 shares in the last quarter. Renaissance Technologies LLC increased its stake in Cardlytics by 711.9% during the second quarter. Renaissance Technologies LLC now owns 351,035 shares of the company’s stock worth $2,882,000 after purchasing an additional 307,800 shares during the period. Jacobs Levy Equity Management Inc. increased its stake in Cardlytics by 56.0% during the third quarter. Jacobs Levy Equity Management Inc. now owns 317,644 shares of the company’s stock worth $1,016,000 after purchasing an additional 113,966 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of Cardlytics by 7.5% during the third quarter. Geode Capital Management LLC now owns 1,053,178 shares of the company’s stock worth $3,371,000 after purchasing an additional 73,484 shares in the last quarter. 68.10% of the stock is currently owned by institutional investors and hedge funds.

About Cardlytics

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.