Cardlytics Inc (NASDAQ: CDLX) was a top gainer in yesterday’s session, and closed the day with gains of 24.65%. This came after the company released positive preliminary Q4 results. It announced that, it expects Q4 revenues of $68.5 million and $69.5 million. Total billings are expected to be between $99 million and 101 million.
CEO Scott Grimes stated that, they experienced strong growth in 2019 and this was evident in the last half of the year. He added that, they were happy with the higher budget expansion that led to a much better performance in Q4, as projected in its guidance for the quarter. He also added that, the company’s partnership with Wells Fargo continued to work as underlined in the phase-based launch of the FI MAU growth in 2020. He also stated that, the results are preliminary and that they were subject to change on the basis of the company’s quarterly reviews.
On top of that, back on January 7th, the company had announced that, its CEO Scott Grimes would be presenting yesterday at the ICR Conference 2020 at the Grande Lakes Hotel & Resort in Orlando, Florida. Investors will have access to this information through the company website.
These announcements saw options traders turn bullish on the stock. Interest on CDLX rose and was ranked in the 100th annual percentile range. Implied volatility for the 30-day option stood at 67.3% which ranked it in the 98th yearly percentile.
Looking at its price action, the stock has been on an uptrend since April last year. In yesterday’s session, it gapped up and opened the day at $75.08. It then traded between a low of $73.84 and a high of $85.51 before closing the day at $85.05. Volumes in the day stood at 1.76 million.
About Cardlytics Inc
Cardlytics Inc is a purchase intelligence platform that operates in the U.S and the U.K. It is based in Atlanta, Georgia.