.August 15, 2024 07:06:15 AM

In summary, Omar Dessouky of Bank of America Securities has downgraded Cardlytics, Inc. (NASDAQ:CDLX) to Underperform with a new price target of $3.5, indicating a potential downside for the stock. Cardlytics’ Q2 financial performance showed a 9% decrease in revenue year-over-year and a 3% drop in adjusted contribution, reflecting operational challenges. The resignation of CEO Karim Temsamani and an investigation into potential federal securities law violations add to the company’s uncertainties. These factors have contributed to the reassessment of Cardlytics’ stock and outlook by analysts, highlighting the challenges the company currently faces.