Cardlytics (NASDAQ:CDLX) Price Target Cut to $2.00 by Analysts at Evercore ISI

Key Points

• Evercore ISI has significantly reduced its target price for Cardlytics (NASDAQ:CDLX) from $3.00 to $2.00, indicating a potential upside of 53.85% from the previous close.
• Cardlytics reported worse than expected earnings, with an EPS of ($0.18), and the consensus rating for the stock is currently a "Hold" with an average price target of $3.25.
• Institutional investors own approximately 68.10% of Cardlytics' stock, with several hedge funds recently increasing their stakes in the company.

Cardlytics (NASDAQ:CDLX - Free Report) had its price target decreased by Evercore ISI from $3.00 to $2.00 in a report published on Friday,Benzinga reports. Evercore ISI currently has an in-line rating on the stock.

Separately, Lake Street Capital dropped their price target on shares of Cardlytics from $3.00 to $2.50 and set a "hold" rating on the stock in a research note on Thursday, May 8th. One analyst has rated the stock with a sell rating, five have given a hold rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $3.25.

Cardlytics Stock Performance

Shares of NASDAQ:CDLX traded up $0.14 during trading hours on Friday, hitting $1.24. The stock had a trading volume of 1,544,592 shares, compared to its average volume of 1,182,079. The stock's fifty day simple moving average is $1.84 and its 200 day simple moving average is $2.08. Cardlytics has a 1-year low of $1.03 and a 1-year high of $5.25. The firm has a market capitalization of $65.75 million, a price-to-earnings ratio of -0.34 and a beta of 1.26. The company has a debt-to-equity ratio of 2.87, a quick ratio of 1.16 and a current ratio of 1.16.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Millennium Management LLC acquired a new position in shares of Cardlytics during the fourth quarter valued at approximately $535,000. Lane Generational LLC acquired a new position in shares of Cardlytics during the first quarter valued at approximately $1,109,000. Mirabella Financial Services LLP acquired a new position in shares of Cardlytics during the fourth quarter valued at approximately $4,285,000. D. E. Shaw & Co. Inc. increased its stake in shares of Cardlytics by 97.4% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,131,505 shares of the company's stock valued at $4,198,000 after acquiring an additional 558,235 shares during the period. Finally, Wells Fargo & Company MN grew its position in Cardlytics by 46.0% in the fourth quarter. Wells Fargo & Company MN now owns 21,106 shares of the company's stock worth $78,000 after buying an additional 6,649 shares during the last quarter. Institutional investors and hedge funds own 68.10% of the company's stock.

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.