Cardlytics (CDLX) Explodes Higher on Q4 Earnings Pre-Release
Cardlytics (CDLX) has gone vertical today after the company announced that management sees Q4 revenue near $69 million (+44%) versus expectations of $59 million and billings near $100 million versus previous guidance of $82 million to $88 million. The Wells Fargo launch is progressing, and management said the good quarter was due to “incremental budget expansions,” which means marketers are loosening their belts and, in all likelihood, that spending is driving greater consumer usage of posted deals. I’ve had the stock at hold since we were already up big in just a few months. Now, with the stock up over 20% today and up over 110% from our entry point, I’ll keep it there. Hope you’ve enjoyed the ride! HOLD