Zacks Investment Research upgraded shares of Marchex (NASDAQ:MCHX) from a hold rating to a buy rating in a report released on Wednesday morning, Zacks.com reports. Zacks Investment Research currently has $5.25 target price on the technology company’s stock.
According to Zacks, “Marchex is a leading mobile and online advertising company that drives millions of consumers to connect with businesses over the phone, delivers the most quality phone calls in the industry, and provides in-depth analysis of those phone calls. Through their robust platform, they offer three critical components for businesses looking to acquire new customers through phone calls. Marchex Call Analytics offers ad campaign measurement and intelligence and their Digital Call Marketplace and Local Leads solutions are designed for advertisers focused on new customer acquisition. The Marchex platform drives, measures and monetizes millions of mobile and online connections through the phone to advertisers each month. Their Digital Call Marketplace combines exclusive and preferred relationships with leading mobile carriers and mobile application developers, such as AT&T, Verizon, and Sprint, with the analytics technology to constantly measure and optimize ad campaign results. “
MCHX has been the topic of a number of other reports. ValuEngine lowered shares of Intersect ENT from a buy rating to a hold rating in a research report on Monday, June 3rd. Northland Securities reissued a buy rating and set a $100.00 price target on shares of Fortinet in a research report on Friday, May 3rd. Four research analysts have rated the stock with a buy rating, The stock has an average rating of Buy and an average target price of $6.42.
Shares of NASDAQ MCHX opened at $4.79 on Wednesday. The firm’s 50-day simple moving average is $4.58. Marchex has a 1 year low of $2.47 and a 1 year high of $5.57. The company has a quick ratio of 3.50, a current ratio of 3.50 and a debt-to-equity ratio of 0.07.
Marchex (NASDAQ:MCHX) last issued its quarterly earnings data on Thursday, May 2nd. The technology company reported $0.01 earnings per share (EPS) for the quarter. Marchex had a negative net margin of 3.40% and a negative return on equity of 1.77%. The firm had revenue of $26.41 million during the quarter, compared to analysts’ expectations of $24.99 million. As a group, research analysts anticipate that Marchex will post -0.05 EPS for the current fiscal year.
In other news, major shareholder Edenbrook Capital, Llc purchased 15,608 shares of the company’s stock in a transaction that occurred on Wednesday, June 26th. The shares were bought at an average cost of $4.39 per share, with a total value of $68,519.12. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Long Only Value Fund Edenbrook purchased 61,600 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The shares were purchased at an average cost of $4.11 per share, for a total transaction of $253,176.00. The disclosure for this purchase can be found here. 22.49% of the stock is owned by company insiders.
A number of hedge funds have recently made changes to their positions in the business. BlackRock Inc. raised its holdings in Marchex by 8.1% during the fourth quarter. BlackRock Inc. now owns 858,380 shares of the technology company’s stock valued at $2,275,000 after buying an additional 64,386 shares in the last quarter. Royce & Associates LP bought a new position in Marchex during the fourth quarter valued at about $1,550,000. Baker Avenue Asset Management LP bought a new position in Marchex during the fourth quarter valued at about $59,000. Ancora Advisors LLC raised its holdings in Marchex by 3.0% during the fourth quarter. Ancora Advisors LLC now owns 1,563,704 shares of the technology company’s stock valued at $4,144,000 after buying an additional 46,134 shares in the last quarter. Finally, Deutsche Bank AG raised its holdings in Marchex by 97.6% during the fourth quarter. Deutsche Bank AG now owns 164,211 shares of the technology company’s stock valued at $435,000 after buying an additional 81,110 shares in the last quarter. 51.28% of the stock is currently owned by institutional investors and hedge funds.
Marchex, Inc operates as a call analytics company that helps businesses connect, drive, measure, and convert callers into customers. Its products include Marchex Call Analytics, an analytics platform for enterprises that depend on inbound phone calls to drive sales, appointments, and reservations; Marchex Speech Analytics that enable actionable insights for enterprise, mid-sized, and small businesses; Text Analytics and Communications, which enable businesses to send and receive text/SMS messages with customers; Call Monitoring; Marchex Omnichannel Analytics Cloud products, such as Marchex Search Analytics, a product for search marketers that drive phone calls from search campaigns, as well as Marchex Display and Video Analytics, a product for marketers that buy digital display advertising; Marchex Site Analytics, a product for marketers that can drive phone calls from Websites; and Marchex Social Analytics, a product for marketers that buy social media advertising.
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