What just happened? Cardlytics, Inc. (NASDAQ:CDLX) stock value has climbed by nearly 3.07% or (2.86 points) to $95.93 from its previous close of $93.07. Does this growth mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 136797 contracts so far this session. CDLX shares had a relatively better volume day versus average trading capacity of 515.11 thousand shares, but with a 23.09 million float and a 0.11% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for CDLX stock indicates that the average analyst price target is $74.5 per share. This means the stock has a potential decrease of -22.34% from where the CDLX share price has been trading recently.
During the recent trading session for Cardlytics, Inc. (NASDAQ:CDLX), the company witnessed their stock rise $2.32 over a week and surge $12 from the price 20 days ago. When compared to their established 52-week high of $98.89, the high they recorded in their recent session happens to be higher. Their established 52-week high was attained by the company on 10/02/20. The recent low of $14.14 stood for a -3% since 04/18/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0 is also allocated to the stock. Since the beta is less than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Cardlytics, Inc., the two-week RSI stands at 70.09. This figure suggests that CDLX stock, for now, is oversold, meaning that the shares are not stable in terms of price movement. The stochastic readings, on the other hand, based on the current CDLX readings is similarly very revealing as it has a stochastic reading of 73.32% at this stage. This figure means that CDLX share price today is being oversold.
Technical chart claims that Cardlytics, Inc. (CDLX) would settle between $95.2/share to $97.34/share level. However, if the stock price goes below the $91.14 mark, then the market for Cardlytics, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $89.22 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 1.72. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Raymond James lowered their recommendation on shares of CDLX from Outperform to Mkt Perform in their opinion released on January 15. Craig Hallum, analysts launched coverage of Cardlytics, Inc. (NASDAQ:CDLX) stock with a Buy recommendation, according to their flash note issued to investors on December 02. Analysts at JP Morgan lowered the stock to a Neutral call from its previous Overweight recommendation, in a research note that dated back to November 14.
CDLX equity has an average rating of 2, with the figure leaning towards a bullish end. 8 analysts who tracked the company were contacted by Reuters. Amongst them, 3 rated the stock as a hold while the remaining 5 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 5 analysts rated Cardlytics, Inc. (NASDAQ:CDLX) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, CDLX stock price is currently trading at 1551.17X forward 12-month Consensus EPS estimates, and its P/E ratio is 0 while for the average stock in the same group, the multiple is 36.6. Cardlytics, Inc. current P/B ratio of 18.8 means it is trading at a premium against its industry’s 5.5.
Cardlytics, Inc. (CDLX)’s current-quarter revenues are projected to climb by nearly 33.6% to hit $63.89 million, based on current consensus estimate. The firm’s full-year revenues are expected to expand by over 36.1% from $150680 to a noteworthy $205100. At the other end of the current quarter income statement, Cardlytics, Inc. is expected to see its adjusted earnings surge by roughly 166.7% to hit $0.04 per share. For the fiscal year, CDLX’s earnings are projected to climb by roughly 65.8% to hit $-0.25 per share.