Cardlytics Inventory Soars After Citron Analysis Says Shares May ‘Double Or Triple’ From Right here – Cardlytics (NASDAQ:CDLX)

Shares of Cardlytics, Inc. CDLX are rising on Wednesday after a analysis agency revealed a glowing report on the corporate, which companions with stores and banks to supply cash-back rewards on card purchases.

What To Know: Following a optimistic five-page report from Citron Analysis on Wednesday, Cardlytics shares jumped as a lot as 25%, in accordance with Benzinga Professional.

Citron’s report highlights a big rewards rollout from American Categorical, considered one of Cardlytics’s main companions. The agency mentioned AmEx not too long ago added “over $3,500 in annual credit throughout resorts, eating, way of life, and journey manufacturers,” all of which require information that Cardlytics gives. This indicators that banks are doubling down on loyalty and low cost ecosystems as aggressive drivers, Citron mentioned.

Cardlytics shares are down about 97% over the previous 5 years. The huge drawdown is a part of Citron’s bullish thesis. The agency doesn’t anticipate the inventory to return to $100, however believes it may possibly attain $10 simply.

“This is likely one of the few corporations that may double or triple with one easy announcement,” Citron mentioned.

The analysis agency additionally believes Cardlytics is well-positioned to offer first-party information since main information gamers like Google and Meta are phasing out cookies, which have been used historically to trace customers’ web exercise. Citron famous that Cardlytics is ready to tackle the rising retail media market, which Nielsen has projected to be value $100 billion by 2028.

CDLX Worth Motion: Cardlytics shares had been up 15.83%, buying and selling at $2.42 on the time of publication Wednesday, in accordance with Benzinga Professional.

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