Needham analysts boosted their price target for Cardlytics (NASDAQ:CDLX) to $17 from $15, while keeping their Buy rating on the stock. The analysts’ updated perspective follows Cardlytics’ significant partnership with American Express and two recent financial transactions, which are expected to address near-term financial stability concerns.
These moves are believed to lessen the uncertainty around the company’s stock by ensuring it doesn’t rely on external financing for its strategic initiatives. Additionally, the collaboration with American Express is anticipated to diversify Cardlytics’ financial institution partnerships and contribute to growth and profitability over several years.