Cardlytics Inc (NASDAQ:CDLX)’s share price rose 9.6% during trading on Wednesday . The company traded as high as $37.96 and last traded at $37.42, approximately 2,453,653 shares changed hands during trading. An increase of 723% from the average daily volume of 298,082 shares. The stock had previously closed at $34.15.

CDLX has been the topic of a number of recent research reports. William Blair initiated coverage on Cardlytics in a report on Monday, July 1st. They issued an “outperform” rating on the stock. ValuEngine downgraded Cardlytics from a “buy” rating to a “hold” rating in a research note on Wednesday, September 4th. Raymond James boosted their price target on Cardlytics from $24.00 to $40.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. Zacks Investment Research lowered shares of Cardlytics from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Finally, JPMorgan Chase & Co. set a $43.00 price objective on shares of Cardlytics and gave the stock a “buy” rating in a research note on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $33.29.

The business’s 50-day moving average price is $32.99 and its 200-day moving average price is $23.66. The company has a debt-to-equity ratio of 0.79, a quick ratio of 2.01 and a current ratio of 2.01. The stock has a market cap of $770.77 million, a P/E ratio of -17.49 and a beta of 1.55.

Cardlytics (NASDAQ:CDLX) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.12) EPS for the quarter, topping the consensus estimate of ($0.35) by $0.23. Cardlytics had a negative return on equity of 66.01% and a negative net margin of 19.60%. The firm had revenue of $48.73 million during the quarter, compared to analyst estimates of $43.77 million. During the same period in the prior year, the business posted ($0.21) EPS. Cardlytics’s revenue was up 37.0% on a year-over-year basis. As a group, equities research analysts expect that Cardlytics Inc will post -1.08 earnings per share for the current year.

In other Cardlytics news, CFO David Thomas Evans sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $25.18, for a total transaction of $37,770.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Tony Weisman sold 33,484 shares of Cardlytics stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $31.36, for a total transaction of $1,050,058.24. The disclosure for this sale can be found here. Insiders have sold 2,354,392 shares of company stock valued at $72,349,708 in the last three months. 21.90% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the business. River & Mercantile Asset Management LLP purchased a new stake in Cardlytics during the 2nd quarter valued at $1,063,000. Royal Bank of Canada boosted its stake in Cardlytics by 166.5% during the second quarter. Royal Bank of Canada now owns 10,643 shares of the company’s stock worth $276,000 after buying an additional 6,649 shares during the period. Cubist Systematic Strategies LLC bought a new position in Cardlytics during the second quarter valued at $277,000. Morgan Stanley increased its position in Cardlytics by 760.1% during the second quarter. Morgan Stanley now owns 13,177 shares of the company’s stock valued at $342,000 after acquiring an additional 11,645 shares during the last quarter. Finally, UBS Oconnor LLC increased its position in Cardlytics by 12.1% during the second quarter. UBS Oconnor LLC now owns 344,354 shares of the company’s stock valued at $8,946,000 after acquiring an additional 37,153 shares during the last quarter. Institutional investors and hedge funds own 85.01% of the company’s stock.

About Cardlytics (NASDAQ:CDLX)

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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