Kyle Peterson, an analyst from Needham, reiterated the Buy rating on Cardlytics (CDLX – Research Report). The associated price target is $12.00.
Kyle Peterson’s Buy rating for Cardlytics (CDLX) stems from several key observations and positive financial indicators. Firstly, Peterson notes that Cardlytics’ preliminary fourth-quarter results suggest that both billings and revenue are trending towards the upper end of their previously issued guidance. Additionally, the EBITDA is anticipated to surpass the company’s forecasts, reflecting the successful implementation of cost efficiency measures. This financial performance is particularly notable given the uncertain economic climate.
Moreover, Peterson views the resolution of disputes with SRS regarding Bridg earnout payments as a pivotal moment. The settlement, which includes a $25 million cash payment and the issuance of 3.6 million common shares to former Bridg shareholders, effectively removes a considerable uncertainty that had been looming over the company. He believes that this resolution, coupled with the solid fundamental results, positions Cardlytics favorably and that the market will respond well to these developments. Consequently, Peterson reiterates his Buy rating, signaling confidence in the company’s near-term prospects.
In another report released yesterday, Lake Street also reiterated a Buy rating on the stock with a $13.00 price target.
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Cardlytics (CDLX) Company Description:
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. The Other Platform Solutions segment includes solutions that enable marketers and marketing service providers to leverage the power of purchase intelligence outside the banking channel. The company was founded by Scott D. Grimes, Lynne M. Laube, and Hans Theisen on June 26, 2008 and is headquartered in Atlanta, GA.
Read More on CDLX:
- Cardlytics Announces Successful Resolution of SRS Dispute and Preliminary Fourth Quarter 2023 Results
- Cardlytics Appoints Two New Members to its Board of Directors
- Cardlytics announces multi-year contract renewal with Lloyds Bank
- Cardlytics Announces Multi-Year Contract Renewal with Lloyds Bank Plc
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