In a report released yesterday, Youssef Squali from SunTrust Robinson maintained a Buy rating on Cardlytics Inc (NASDAQ: CDLX), with a price target of $27. The company’s shares opened today at $24.40, close to its 52-week high of $25.71.
Squali wrote:
“We hosted CDLX mgt for an NDR this week, during which mgt provided more color around the state of the business following 2Q earnings on 8/14, and progress on the all-important JPM Fargo relationships. As a digital ad channel designed to be bot and fraud proof with attractive ROI, CDLX is gaining enough scale with users and becoming a more relevant platform for advertisers, in our view. The focus now is on-boarding these two new partners while aggressively expanding the sales force to sell the growing ad inventory. We remain positive on CDLX and see ample opportunity for growth. Becoming The Industry Consolidator.”
According to TipRanks.com, Squali is a top 100 analyst with an average return of 22.5% and a 68.8% success rate. Squali covers the Services sector, focusing on stocks such as Blue Apron Holdings Inc, Trade Desk Inc, and Stitch Fix Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Cardlytics Inc with a $25.67 average price target.
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The company has a one-year high of $25.71 and a one-year low of $11.10. Currently, Cardlytics Inc has an average volume of 145.6K.
Based on the recent corporate insider activity of 25 insiders, corporate insider sentiment is negative on the stock.
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Cardlytics, Inc. engages in the development of marketing solutions through its purchase intelligence platform. It operates through the Cardlytics Direct and Other Platform Solutions segments. The Cardlytics Direct segment represents its proprietary native bank advertising channel.
