Evercore ISI Issues Pessimistic Forecast for Cardlytics (NASDAQ:CDLX) Stock Price

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 - Get Free Report) had its target price reduced by investment analysts at Evercore ISI from $3.00 to $2.00 in a research report issued on Friday,Benzinga reports. The firm presently has an "in-line" rating on the stock. Evercore ISI's target price would indicate a potential upside of 53.85% from the company's previous close.

Separately, Lake Street Capital reduced their price objective on Cardlytics from $3.00 to $2.50 and set a "hold" rating for the company in a research note on Thursday, May 8th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $3.25.

Cardlytics Price Performance

Shares of CDLX opened at $1.30 on Friday. Cardlytics has a 1-year low of $1.20 and a 1-year high of $5.25. The stock has a market cap of $68.25 million, a PE ratio of -0.36 and a beta of 1.26. The company has a debt-to-equity ratio of 2.62, a current ratio of 1.19 and a quick ratio of 1.19. The firm has a fifty day moving average price of $1.86 and a 200 day moving average price of $2.13.

Cardlytics (NASDAQ:CDLX - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported ($0.18) EPS for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.02). Cardlytics had a negative return on equity of 269.90% and a negative net margin of 68.87%. The firm had revenue of $63.25 million for the quarter, compared to analyst estimates of $64.06 million. As a group, sell-side analysts anticipate that Cardlytics will post -1.52 EPS for the current year.

Institutional Investors Weigh In On Cardlytics

Hedge funds have recently made changes to their positions in the business. ProShare Advisors LLC acquired a new position in Cardlytics in the 4th quarter valued at about $43,000. Post Resch Tallon Group Inc. grew its stake in shares of Cardlytics by 100.0% in the 2nd quarter. Post Resch Tallon Group Inc. now owns 20,000 shares of the company's stock valued at $33,000 after purchasing an additional 10,000 shares during the last quarter. Wells Fargo & Company MN increased its holdings in shares of Cardlytics by 46.0% in the fourth quarter. Wells Fargo & Company MN now owns 21,106 shares of the company's stock valued at $78,000 after purchasing an additional 6,649 shares during the period. Jump Financial LLC purchased a new stake in shares of Cardlytics during the first quarter worth approximately $41,000. Finally, Canada Pension Plan Investment Board purchased a new stake in shares of Cardlytics during the fourth quarter worth approximately $84,000. 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.

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