Needham analyst Kyle Peterson has maintained their neutral stance on CDLX stock, giving a Hold rating on July 30.
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Kyle Peterson has given his Hold rating due to a combination of factors impacting Cardlytics’ outlook. The company’s recent quarterly performance was generally in line with expectations, showing solid execution and growth, particularly with the addition of new clients and international revenue increases. However, the guidance for the upcoming quarter fell short of market expectations, primarily due to content restrictions from Cardlytics’ largest financial institution partner, which is anticipated to negatively affect the company’s fundamentals in the near term.
Additionally, uncertainties regarding the future of the partnership with Bank of America and concerns about the company’s financial stability contribute to the cautious stance. These elements collectively suggest that while there are positive aspects to Cardlytics’ performance, the potential risks and challenges warrant a Hold rating, as the company needs to address these issues to improve its long-term prospects.
According to TipRanks, Peterson is a 3-star analyst with an average return of 4.5% and a 44.95% success rate. Peterson covers the Technology sector, focusing on stocks such as Fair Isaac, Alight, and Affirm Holdings.
In another report released on July 30, TR | OpenAI – 4o also reiterated a Hold rating on the stock with a $2.00 price target.