Cardlytics (NASDAQ:CDLX) Releases Quarterly Earnings Results

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Cardlytics (NASDAQ:CDLX) posted its earnings results on Thursday. The company reported ($0.12) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.35) by $0.23, Briefing.com reports. Cardlytics had a negative net margin of 19.60% and a negative return on equity of 64.83%. The firm had revenue of $48.73 million for the quarter, compared to analysts’ expectations of $43.77 million. During the same quarter last year, the firm earned ($0.21) EPS. The company’s quarterly revenue was up 37.0% compared to the same quarter last year. Cardlytics updated its FY 2019 guidance to EPS and its Q3 2019 guidance to EPS.

Shares of Cardlytics stock traded down $0.04 during mid-day trading on Friday, hitting $32.90. 477,591 shares of the stock were exchanged, compared to its average volume of 286,852. The company has a quick ratio of 2.37, a current ratio of 2.37 and a debt-to-equity ratio of 0.99. The stock has a market capitalization of $743.44 million, a P/E ratio of -15.37 and a beta of 1.76. The firm’s 50-day moving average is $27.77. Cardlytics has a 12 month low of $9.80 and a 12 month high of $34.30.

In related news, CEO Scott D. Grimes sold 6,000 shares of Cardlytics stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $30.99, for a total value of $185,940.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Scott D. Grimes sold 4,000 shares of Cardlytics stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $23.76, for a total transaction of $95,040.00. The disclosure for this sale can be found here. Insiders sold a total of 506,715 shares of company stock worth $13,244,948 in the last ninety days. 21.90% of the stock is currently owned by insiders.

Several large investors have recently bought and sold shares of CDLX. Frontier Capital Management Co. LLC raised its holdings in shares of Cardlytics by 11.5% in the 1st quarter. Frontier Capital Management Co. LLC now owns 1,631,248 shares of the company’s stock worth $26,981,000 after purchasing an additional 168,471 shares during the period. Tygh Capital Management Inc. bought a new stake in shares of Cardlytics in the 1st quarter worth approximately $2,488,000. JPMorgan Chase & Co. raised its holdings in shares of Cardlytics by 177.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 199,301 shares of the company’s stock worth $4,901,000 after purchasing an additional 127,596 shares during the period. Nicholas Investment Partners LP bought a new stake in shares of Cardlytics in the 2nd quarter worth approximately $2,391,000. Finally, Penn Capital Management Co. Inc. raised its holdings in shares of Cardlytics by 38.2% in the 2nd quarter. Penn Capital Management Co. Inc. now owns 263,499 shares of the company’s stock worth $6,846,000 after purchasing an additional 72,893 shares during the period. 71.09% of the stock is currently owned by institutional investors.

Several equities analysts have commented on CDLX shares. ValuEngine cut shares of Cardlytics from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, April 23rd. Bank of America reissued a “buy” rating and set a $32.00 target price (up previously from $22.00) on shares of Cardlytics in a research report on Wednesday, July 24th. William Blair started coverage on shares of Cardlytics in a research report on Monday, July 1st. They set an “outperform” rating on the stock. SunTrust Banks lifted their target price on shares of Cardlytics from $25.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Raymond James lifted their target price on shares of Cardlytics from $24.00 to $40.00 and gave the stock an “outperform” rating in a research report on Friday. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $30.71.

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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Earnings History for Cardlytics (NASDAQ:CDLX)

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