Cardlytics Inc (CDLX) opened today at $4.80, significantly higher than its previous close of $3.45. During the trading session, the bid price reached $6.05 with 1,100 shares, while the ask price peaked at $6.12 with 1,400 shares. The stock experienced a day’s range of $4.33 to $6.76, showcasing considerable fluctuation. Over the past 52 weeks, the stock’s range has been between $2.57 and $54.04. Today’s trading volume amounted to 71,226,645 shares, far surpassing the average volume of 751,503 shares.
Cardlytics has updated its guidance for Q1 2023, projecting the following ranges (in millions) for billings, revenue, adjusted contribution, and adjusted EBITDA:
Previously reported guidance for Q1 2023 estimated billings between $84.0 million and $93.0 million, while the updated guidance now forecasts billings in the range of $93.0 million to $97.0 million.
Revenue, initially predicted to fall between $54.0 million and $63.0 million, has been revised to a higher range of $63.5 million to $66.5 million.
The adjusted contribution, which was previously anticipated to be between $26.0 million and $31.0 million, is now expected to be within the range of $30.0 million to $33.0 million.
Lastly, the adjusted EBITDA projections have improved from a range of ($17.0) million to ($10.0) million to a new range of ($8.0) million to ($5.0) million.
Some of other biotech stocks to keep an eyes include Novo Nordisk (NYSE:NVO), Reata Pharmaceuticals (NASDAQ:RETA), Johnson & Johnson (NYSE:JNJ), Merck & Co (NYSE:MRK) and Novartis (NYSE:NVS).