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Amit Gupta, the Chief Executive Officer of Cardlytics, Inc. (NASDAQ:CDLX), recently sold shares of the company, according to a filing with the Securities and Exchange Commission. On April 2, Gupta sold 7,342 shares of Cardlytics common stock at a weighted average price of $1.806 per share, totaling $13,259. The transaction comes as Cardlytics shares trade near their 52-week low, having declined over 86% in the past year. According to InvestingPro analysis, the stock appears undervalued at its current market cap of $82.8 million. This transaction was conducted to satisfy tax withholding obligations related to the vesting of restricted stock units (RSUs).
On April 1, Gupta also acquired 14,350 shares through the vesting of RSUs, which were converted into common stock at no cost. Following these transactions, Gupta holds a direct ownership of 371,080 shares in Cardlytics.
In other recent news, Cardlytics reported a 16% decline in Q4 2024 revenue, totaling $74 million, which exceeded its revenue forecast of $64.29 million. Despite the revenue drop, the company maintained a positive adjusted EBITDA of $2.5 million for the year. The company also highlighted strategic initiatives, such as micro-targeting and data engineering, which are expected to drive future growth. Analyst firms, including Evercore ISI, Craig-Hallum, and BofA Securities, have adjusted their price targets for Cardlytics shares, citing both positive developments and ongoing challenges. Evercore ISI and Craig-Hallum both reduced their price targets to $3.00, while BofA Securities set it at $2.50, maintaining an Underperform rating. Analysts noted improvements in campaign delivery and new client acquisitions, but also pointed out persistent challenges like under-delivery issues and macroeconomic uncertainties. Needham analysts maintained a Hold rating, acknowledging the company’s improved execution and cost management but expressing caution about the pace of recovery. These developments reflect a mix of optimism and caution among analysts and investors regarding Cardlytics’ future prospects.
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