Why Cardlytics Stock Is Trading Higher
Portfolio Pulse from Erica Kollmann
Cardlytics, Inc. (NASDAQ:CDLX) shares rose after announcing a settlement with SRS, involving a $25 million cash payment and issuance of 3.6 million shares. The company also updated its Q4 2023 preliminary results, with billings between $131 million and $133 million, and revenue between $89 million and $90 million.
January 29, 2024 | 5:02 pm
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Cardlytics' stock is trading higher due to a settlement agreement with SRS and an optimistic update on Q4 2023 preliminary results.
The settlement with SRS removes a significant legal uncertainty, which is likely to be viewed positively by investors. The payment terms are spread out, easing immediate financial burden. The updated Q4 guidance suggests better-than-expected performance, which can further boost investor confidence in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100