Cardlytics Inc (CDLX) Receives $24.00 Consensus Price Target from Analysts
Shares of Cardlytics Inc (NASDAQ:CDLX) have received a consensus recommendation of “Buy” from the seven brokerages that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $24.40.
CDLX has been the subject of several recent research reports. Bank of America reiterated a “hold” rating and set a $22.00 target price on shares of Cardlytics in a research note on Friday, August 17th. Zacks Investment Research lowered shares of Cardlytics from a “hold” rating to a “sell” rating in a research note on Tuesday, August 21st. KeyCorp lowered their target price on shares of Cardlytics from $30.00 to $28.00 and set an “overweight” rating for the company in a research note on Wednesday, August 15th. Finally, SunTrust Banks reiterated a “buy” rating and set a $27.00 target price on shares of Cardlytics in a research note on Tuesday.
CDLX stock traded up $2.21 during trading on Friday, hitting $27.69. 10,975 shares of the company’s stock traded hands, compared to its average volume of 240,691. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.24 and a quick ratio of 2.24. Cardlytics has a 52 week low of $11.10 and a 52 week high of $26.77. The firm has a market cap of $514.51 million and a price-to-earnings ratio of -3.34.
In other news, CEO Scott D. Grimes sold 1,445 shares of the company’s stock in a transaction dated Friday, August 17th. The shares were sold at an average price of $20.66, for a total transaction of $29,853.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Lynne Marie Laube sold 1,349 shares of the company’s stock in a transaction dated Friday, August 17th. The stock was sold at an average price of $20.66, for a total transaction of $27,870.34. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,194 shares of company stock valued at $107,308.
Several institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE grew its position in shares of Cardlytics by 1.1% during the second quarter. Bank of America Corp DE now owns 266,920 shares of the company’s stock worth $5,808,000 after acquiring an additional 2,944 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Cardlytics by 32.9% during the second quarter. Bank of New York Mellon Corp now owns 15,553 shares of the company’s stock worth $338,000 after acquiring an additional 3,846 shares during the last quarter. California State Teachers Retirement System bought a new position in shares of Cardlytics during the first quarter worth about $122,000. Schwab Charles Investment Management Inc. bought a new position in shares of Cardlytics during the second quarter worth about $214,000. Finally, California Public Employees Retirement System bought a new position in shares of Cardlytics during the first quarter worth about $146,000. Institutional investors and hedge funds own 49.62% of the company’s stock.
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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