UPDATE: Needham & Company Starts Cardlytics (CDLX) at Buy

June 18, 2021 6:17 AM EDT
Get Alerts CDLX Hot Sheet
Price: $84.26 --0%

Rating Summary:
    5 Buy, 5 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 18 | Down: 21 | New: 45
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(Updated - June 18, 2021 6:17 AM EDT)

Needham & Company analyst Kyle Peterson initiates coverage on Cardlytics (NASDAQ: CDLX) with a Buy rating and a price target of $135.00.

The analyst comments "We are initiating coverage of Cardlytics (CDLX) with a BUY rating and a $135 price target. CDLX operates an advertising platform that leverages a large amount of debit/credit card transaction data, which covers ~50% of card swipes in the United States across over 168 million users. We believe this vast amount of data gives CDLX a competitive advantage as it allows the company to deliver highly targeted and measurable marketing campaigns. We also believe that the recent acquisitions of Bridg and Dosh added muscle to the CDLX platform, and that positive secular trends in areas such as digital payments and banking will serve as tailwinds to growth. Our $135 price target is based on an EV/revenue multiple of 11x our FY22 estimate and implies 20%+ upside."

For an analyst ratings summary and ratings history on Cardlytics click here. For more ratings news on Cardlytics click here.

Shares of Cardlytics closed at $110.94 yesterday.

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