Cardlytics Inc (NASDAQ: CDLX) Surprises The Bears, Looks Good Going Forward

In the last trading session, 1.61 million shares of the Cardlytics Inc (NASDAQ:CDLX) were traded, and its beta was 1.47. Most recently the company’s share price was $13.65, and it changed around -$0.81 or -5.60% from the last close, which brings the market valuation of the company to $602.10M. CDLX currently trades at a discount to its 52-week high of $20.52, offering almost -50.33% off that amount. The share price’s 52-week low was $3.26, which indicates that the current value has risen by an impressive 76.12% since then. We note from Cardlytics Inc’s average daily trading volume that its 10-day average is 4.1 million shares, with the 3-month average coming to 1.67 million.

Cardlytics Inc stock received a consensus recommendation rating of Buy, based on a mean score of 1.00. If we narrow it down even further, the data shows that 0 out of 6 analysts rate the stock as a Sell; another 1 rate it as Overweight. Among the rest, 1 recommended CDLX as a Hold, whereas 4 deemed it a Buy, and 0 rated it as Underweight. Cardlytics Inc is expected to report earnings per share of -$0.12 for the current quarter.

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Cardlytics Inc (NASDAQ:CDLX) trade information

Instantly CDLX has showed a red trend with a performance of -5.60% at the end of last trading. The performance over the last five days has remained in the red territory. The company’s shares are currently up 48.21% year-to-date, but still down -32.59% over the last five days. On the other hand, Cardlytics Inc (NASDAQ:CDLX) is 62.69% up in the 30-day period. We can see from the shorts that 4.48 million shares have been sold at a short interest cover period of 2.9 day(s).

The consensus price target as assigned by Wall Street analysts is $34.5, which translates to bulls needing to increase their stock price by 60.43% from its current value. Analyst projections state that CDLX is forecast to be at a low of $19 and a high of $50.

Cardlytics Inc (CDLX) estimates and forecasts

Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 52.00% in revenue this quarter, and will report an increase of 87.50% in the next quarter. The year-over-year growth rate is expected to be 9.20%, up from the previous year.

Consensus estimates provided by 3 financial analysts predict the company will bring in an average of $71.69 million in revenue for the current quarter. 3 analysts expect Cardlytics Inc to make $81.39 million in revenue for the quarter ending Jun 2024. Analysts predict that the company’s current quarter sales will jump, forecast at 11.40%.

Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -5.75%. Cardlytics Inc earnings are expected to increase by 65.04% in 2024, but the outlook is positive 44.10% per year for the next five years.

CDLX Dividends

Cardlytics Inc’s next quarterly earnings report is expected to be released on March 14.

Cardlytics Inc (NASDAQ:CDLX)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 3.69% of Cardlytics Inc shares, and 68.71% of them are in the hands of institutional investors. The stock currently has a share float of 71.35%. Cardlytics Inc stock is held by 177 institutions, with CAS Investment Partners, LLC being the largest institutional investor. By Jun 29, 2023, it held 14.36% of the shares, which is about 5.42 million shares worth $34.23 million.

Blackrock Inc., with 7.57% or 2.86 million shares worth $18.05 million as of Jun 29, 2023, holds the second largest percentage of outstanding shares.

Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF were the top two Mutual Funds as of Jun 29, 2023. The former held 1.0 million shares worth $6.29 million, making up 2.64% of all outstanding shares. On the other hand, iShares Russell 2000 ETF held roughly 0.82 million shares worth around $13.62 million, which represents about 2.17% of the total shares outstanding.