Shares of Cardlytics, Inc. CDLX are rising on Wednesday after a research firm published a glowing report on the company, which partners with retail outlets and banks to offer cash-back rewards on card purchases.
What To Know: Following a positive five-page report from Citron Research on Wednesday, Cardlytics shares jumped as much as 25%, according to Benzinga Pro.
Citron’s report highlights a significant rewards rollout from American Express, one of Cardlytics’s major partners. The firm said AmEx recently added “over $3,500 in annual credits across hotels, dining, lifestyle, and travel brands,” all of which require data that Cardlytics provides. This signals that banks are doubling down on loyalty and discount ecosystems as competitive drivers, Citron said.
Cardlytics shares are down about 97% over the past five years. The massive drawdown is part of Citron’s bullish thesis. The firm doesn’t expect the stock to return to $100, but believes it can reach $10 easily.
“This is one of the few companies that can double or triple with one simple announcement,” Citron said.
The research firm also believes Cardlytics is well-positioned to provide first-party data since major data players like Google and Meta are phasing out cookies, which have been used traditionally to track users’ internet activity. Citron noted that Cardlytics is prepared to take on the growing retail media market, which Nielsen has projected to be worth $100 billion by 2028.
CDLX Price Action: Cardlytics shares were up 15.83%, trading at $2.42 at the time of publication Wednesday, according to Benzinga Pro.
Read More:
Image: Shutterstock
Market News and Data brought to you by Benzinga APIs
© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
