Marchex (NASDAQ:MCHX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday, Zacks.com reports. The firm currently has a $3.50 price objective on the technology company’s stock. Zacks Investment Research‘s price target points to a potential upside of 10.06% from the stock’s current price.
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. “
Separately, ValuEngine lowered shares of Marchex from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $5.83.
NASDAQ:MCHX opened at $3.18 on Wednesday. The firm’s fifty day moving average is $3.31 and its 200-day moving average is $4.27. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.69 and a current ratio of 3.69. Marchex has a 52 week low of $2.47 and a 52 week high of $5.57. The firm has a market cap of $136.35 million, a P/E ratio of -53.00 and a beta of 1.45.
In other Marchex news, major shareholder Edenbrook Capital, Llc acquired 100,000 shares of the stock in a transaction on Thursday, August 8th. The shares were purchased at an average price of $3.75 per share, for a total transaction of $375,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Long Only Value Fund Edenbrook acquired 20,000 shares of the stock in a transaction on Tuesday, August 27th. The shares were acquired at an average price of $3.26 per share, for a total transaction of $65,200.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 238,678 shares of company stock worth $874,565. Insiders own 18.43% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in MCHX. BlackRock Inc. raised its holdings in Marchex by 196.2% during the second quarter. BlackRock Inc. now owns 2,420,224 shares of the technology company’s stock worth $11,376,000 after buying an additional 1,603,048 shares during the last quarter. Renaissance Technologies LLC raised its holdings in Marchex by 17.5% during the second quarter. Renaissance Technologies LLC now owns 2,456,112 shares of the technology company’s stock worth $11,544,000 after buying an additional 364,978 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Marchex by 25.3% in the second quarter. Vanguard Group Inc. now owns 1,527,225 shares of the technology company’s stock valued at $7,178,000 after purchasing an additional 308,046 shares during the last quarter. Marshall Wace North America L.P. raised its holdings in shares of Marchex by 804.8% in the second quarter. Marshall Wace North America L.P. now owns 286,357 shares of the technology company’s stock valued at $1,346,000 after purchasing an additional 254,710 shares during the last quarter. Finally, AJO LP purchased a new stake in shares of Marchex in the first quarter valued at about $1,110,000. Hedge funds and other institutional investors own 57.15% of the company’s stock.
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.
Featured Article: What is the Stochastic Momentum Index (SMI)?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Marchex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marchex and related companies with MarketBeat.com's FREE daily email newsletter.