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Cardlytics, Inc. (NASDAQ:CDLX), a company currently valued at $82.8 million and trading near its 52-week low, reported that Chief Financial Officer Alexis DeSieno recently sold company stock, according to a recent SEC filing. On April 2, DeSieno sold 7,998 shares of Cardlytics common stock at a weighted average price of $1.806 per share, totaling approximately $14,444. This transaction was conducted to cover tax withholding obligations resulting from the vesting of restricted stock units (RSUs). According to InvestingPro data, the company operates with a significant debt burden, with a debt-to-equity ratio of 3.17x.
In addition to the sale, DeSieno acquired 14,350 shares of common stock on April 1 through the vesting of RSUs, which were originally granted as part of a larger award set to vest in installments through 2026. Following these transactions, DeSieno holds 147,300 shares of Cardlytics common stock. The stock has faced significant challenges, with a decline of over 86% in the past year. InvestingPro analysis reveals 13 additional key insights about Cardlytics’ financial health and market position.
These moves are part of routine financial management by company executives, often involving the exercise and sale of stock to meet tax obligations. For comprehensive analysis of Cardlytics’ financial health, valuation metrics, and future prospects, access the detailed Pro Research Report available on InvestingPro.
In other recent news, Cardlytics reported its fourth-quarter financial results for 2024, with revenue totaling $74 million, which was a 16% decline year-over-year. Despite the revenue drop, the company exceeded its forecast of $64.29 million, achieving a positive adjusted EBITDA of $2.5 million for the full year. Analysts from BofA Securities, Evercore ISI, Craig-Hallum, and Needham provided their assessments following the earnings release. BofA Securities reduced Cardlytics’ price target to $2.50 while maintaining an Underperform rating, noting a 12% year-over-year billing decline and challenges with key account losses.
Evercore ISI and Craig-Hallum both lowered their price targets for Cardlytics to $3.00, maintaining "In Line" and Hold ratings, respectively. These adjustments came despite Cardlytics’ improvements in campaign delivery and new business wins, as analysts expressed concerns about the company’s gradual recovery in billings and ongoing challenges with advertiser turnover. Meanwhile, Needham kept a Hold rating, highlighting the company’s improved execution and cost management but anticipating an inconsistent recovery.
Cardlytics has made strides in product improvements, including addressing over-delivery issues and expanding partnerships, such as a new neobank partnership expected to ramp up in the first quarter. The company also continues to focus on strategic initiatives like micro-targeting and data engineering, aiming for positive adjusted EBITDA by the end of 2025. Despite these efforts, macroeconomic uncertainties and challenges with consumer discretionary spending remain significant headwinds for the company.
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