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Fly News Breaks for March 4, 2020
CDLX
Mar 4, 2020 | 07:58 EDT
Craig-Hallum analyst Jason Kreyer downgraded Cardlytics to Hold from Buy with a price target of $70, down from $100. The analyst notes that some operational missteps combined with a rapidly deteriorating macro yielded a substantial miss relative to Q1 estimates. The economic environment is "quite challenging" as consumer purchasing trends have tapered substantially due to the coronavirus, and the duration of this impact is impossible to predict, he adds.
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