UPDATE: Needham & Company Starts Cardlytics (CDLX) at Buy
- Futures rise ahead of weekly jobless claims data
- Moderna (MRNA) Tops Q2 Street Estimates, Nabs $4.2 Billion from 199 Million Sold Vaccines That Yielded 93% Efficacy Through Six Months
- Oil rises on Mideast tensions but virus concerns weigh
- Roku (ROKU) Falls Sharply on Significant Slowdown in Streaming Views, Analysts Divided
- Dollar holds gains after Fed comments, sterling ticks up after BoE
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."
Shares of Cardlytics closed at $110.94 yesterday.
You May Also Be Interested In
- Cardlytics (CDLX) PT Lowered to $120 at Needham & Company on Slower Than Expected Recovery
- Clean Harbors (CLH) PT Raised to $120 at Needham & Company
- UPDATE: H.C. Wainwright Starts MindMed (MNMD) at Buy
Create E-mail Alert Related CategoriesAnalyst Comments, Hot New Coverage, New Coverage
Related EntitiesNeedham & Company
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!