Cardlytics price target lowered to $2.50 from $3 at Lake Street

Lake Street lowered the firm’s price target on Cardlytics (CDLX) to $2.50 from $3 and keeps a Hold rating on the shares. Cardlytics’ solid Q1 and in line guidance is “encouraging,” but the firm expects billings comps to be a headwind to growth the next two quarters, the analyst tells investors. Cardlytics “remains in the proving grounds, but there are encouraging signals Cardlytics could see a return to growth,” added the analyst, who cites multiple compression in the space for the firm’s lowered target.