Zacks Investment Research downgraded shares of Cardlytics (NASDAQ:CDLX) from a hold rating to a sell rating in a report issued on Monday morning, Zacks.com reports.

According to Zacks, “Cardlytics, Inc. is engaged in developing a purchase intelligence platform. The purchase data includes debit, credit and bill pay data from online and in-store transactions. It helps the marketers identify, reach and influence likely buyers at scale, and measure the impact of marketing spends. The Company also operates an advertising channel, Cardlytics Direct. Cardlytics Direct delivers tailored marketing for marketers and financial institutions. Cardlytics, Inc. is based in ATLANTA, United States. “

A number of other brokerages have also recently commented on CDLX. SunTrust Banks upped their price target on Cardlytics from $55.00 to $75.00 and gave the company a buy rating in a research report on Thursday, July 9th. Wells Fargo & Co increased their price objective on Cardlytics from $45.00 to $55.00 and gave the stock an overweight rating in a report on Tuesday, May 12th. BidaskClub cut Cardlytics from a hold rating to a sell rating in a report on Saturday, August 1st. Bank of America cut Cardlytics from a buy rating to an underperform rating and set a $26.00 price objective on the stock. in a report on Tuesday, April 21st. Finally, Craig Hallum increased their price objective on Cardlytics from $50.00 to $70.00 and gave the stock a hold rating in a report on Wednesday, August 5th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of Hold and an average price target of $60.57.

Shares of Cardlytics stock opened at $75.09 on Monday. The stock has a fifty day simple moving average of $71.24 and a 200 day simple moving average of $65.02. Cardlytics has a 12-month low of $27.33 and a 12-month high of $107.50. The company has a market capitalization of $2.05 billion, a P/E ratio of -51.79 and a beta of 2.38.

Cardlytics (NASDAQ:CDLX) last issued its quarterly earnings results on Tuesday, August 4th. The company reported ($0.38) EPS for the quarter, beating analysts’ consensus estimates of ($0.74) by $0.36. Cardlytics had a negative return on equity of 26.42% and a negative net margin of 18.86%. The firm had revenue of $28.22 million for the quarter, compared to analysts’ expectations of $30.84 million. During the same quarter in the prior year, the firm earned ($0.12) EPS. The business’s revenue for the quarter was down 42.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Cardlytics will post -2.14 EPS for the current fiscal year.

In other news, major shareholder Clifford Sosin acquired 145,000 shares of Cardlytics stock in a transaction dated Wednesday, August 5th. The shares were purchased at an average cost of $63.79 per share, for a total transaction of $9,249,550.00. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider David Thomas Evans sold 4,512 shares of the stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $66.98, for a total value of $302,213.76. Following the transaction, the insider now owns 17,991 shares in the company, valued at $1,205,037.18. The disclosure for this sale can be found here. Over the last 90 days, insiders acquired 284,100 shares of company stock worth $18,671,681 and sold 83,723 shares worth $6,151,261. 6.50% of the stock is owned by corporate insiders.

Several institutional investors have recently made changes to their positions in the company. Motley Fool Wealth Management LLC increased its position in shares of Cardlytics by 0.6% during the 2nd quarter. Motley Fool Wealth Management LLC now owns 102,388 shares of the company’s stock valued at $7,165,000 after purchasing an additional 562 shares during the last quarter. Alliancebernstein L.P. increased its position in shares of Cardlytics by 4.3% during the 1st quarter. Alliancebernstein L.P. now owns 17,100 shares of the company’s stock valued at $598,000 after purchasing an additional 700 shares during the last quarter. Ameritas Investment Partners Inc. increased its position in shares of Cardlytics by 78.4% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,284 shares of the company’s stock valued at $160,000 after purchasing an additional 1,004 shares during the last quarter. Royal Bank of Canada increased its position in shares of Cardlytics by 30.2% during the 1st quarter. Royal Bank of Canada now owns 4,737 shares of the company’s stock valued at $166,000 after purchasing an additional 1,099 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Cardlytics by 97.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,761 shares of the company’s stock valued at $193,000 after purchasing an additional 1,362 shares during the last quarter. Hedge funds and other institutional investors own 83.37% of the company’s stock.

About Cardlytics

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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