Marchex (NASDAQ:MCHX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday. The brokerage currently has a $3.00 price objective on the technology company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 14.07% from the company’s previous close.
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, TheStreet upgraded Marchex from a “d+” rating to a “c-” rating in a research report on Thursday, February 15th.
Marchex stock opened at $2.63 on Friday. The company has a market cap of $115.69, a P/E ratio of -18.79 and a beta of 1.25. Marchex has a one year low of $2.57 and a one year high of $3.67.
Marchex (NASDAQ:MCHX) last posted its earnings results on Thursday, February 15th. The technology company reported $0.01 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.02. The business had revenue of $21.85 million during the quarter, compared to the consensus estimate of $21.10 million. Marchex had a negative return on equity of 4.95% and a negative net margin of 6.74%. Marchex’s revenue was down 23.1% on a year-over-year basis. During the same quarter last year, the company earned ($0.04) EPS. analysts forecast that Marchex will post -0.07 earnings per share for the current fiscal year.
In other Marchex news, major shareholder Edenbrook Capital, Llc acquired 80,773 shares of the business’s stock in a transaction on Tuesday, February 20th. The stock was purchased at an average price of $3.23 per share, for a total transaction of $260,896.79. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last quarter, insiders acquired 413,345 shares of company stock valued at $1,295,984. Corporate insiders own 27.35% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of MCHX. Macquarie Group Ltd. bought a new position in Marchex in the 3rd quarter valued at $202,000. Dimensional Fund Advisors LP raised its position in Marchex by 11.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,458,252 shares of the technology company’s stock valued at $4,506,000 after purchasing an additional 148,643 shares during the last quarter. Alambic Investment Management L.P. raised its position in Marchex by 18.6% in the 4th quarter. Alambic Investment Management L.P. now owns 197,968 shares of the technology company’s stock valued at $639,000 after purchasing an additional 31,107 shares during the last quarter. Cpwm LLC raised its position in Marchex by 19.8% in the 4th quarter. Cpwm LLC now owns 226,847 shares of the technology company’s stock valued at $733,000 after purchasing an additional 37,500 shares during the last quarter. Finally, Wells Fargo & Company MN raised its position in Marchex by 219.1% in the 4th quarter. Wells Fargo & Company MN now owns 31,473 shares of the technology company’s stock valued at $101,000 after purchasing an additional 21,611 shares during the last quarter. Hedge funds and other institutional investors own 46.32% of the company’s stock.
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Marchex, Inc operates as a call analytics company. Its products include Marchex Call Analytics, an analytics technology platform that provides data and insights to measure the performance of mobile, online, and offline advertising for advertisers and small business resellers; and Marchex Speech Analytics delivers actionable operational and advertising insights of inbound calls from consumer's interactions.
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