Cardlytics shares are trading lower after the company reported mixed Q1 financial results and issued Q2 revenue guidance with its midpoint below estimates. Also, Needham maintained a Buy rating on the stock and lowered its price target from $17 to $12.
Portfolio Pulse from Benzinga Newsdesk
Cardlytics shares dropped following mixed Q1 financial results and Q2 revenue guidance below estimates. Needham maintained a Buy rating but reduced the price target from $17 to $12.
May 09, 2024 | 11:46 am
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Cardlytics shares declined due to mixed Q1 results and disappointing Q2 revenue guidance, despite Needham's continued support with a Buy rating, albeit at a reduced price target.
The mixed Q1 financial results and the Q2 revenue guidance being below estimates are likely to negatively impact investor sentiment in the short term. Needham's decision to maintain a Buy rating but lower the price target from $17 to $12 indicates a reassessment of the stock's value, potentially leading to a negative short-term price movement.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100