Zacks Investment Research upgraded shares of Marchex (NASDAQ:MCHX) from a hold rating to a buy rating in a research report released on Wednesday, Zacks.com reports. The brokerage currently has $5.25 price objective 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 subject of several other research reports. Northland Securities reaffirmed a buy rating and set a $100.00 price target on shares of Fortinet in a research note on Friday, May 3rd. ValuEngine downgraded shares of Intersect ENT from a buy rating to a hold rating in a research note on Monday, June 3rd. Four analysts have rated the stock with a buy rating, Marchex presently has an average rating of Buy and an average price target of $6.42.
Marchex (NASDAQ:MCHX) last issued its quarterly earnings data on Thursday, May 2nd. The technology company reported $0.01 EPS for the quarter. The business had revenue of $26.41 million during the quarter, compared to the consensus estimate of $24.99 million. Marchex had a negative net margin of 3.40% and a negative return on equity of 1.77%. On average, research analysts forecast that Marchex will post -0.05 earnings per share for the current fiscal year.
In other Marchex news, major shareholder Edenbrook Capital, Llc purchased 15,608 shares of the company’s stock in a transaction dated Wednesday, June 26th. The stock was purchased at an average price of $4.39 per share, with a total value of $68,519.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Long Only Value Fund Edenbrook purchased 61,600 shares of the company’s stock in a transaction dated Tuesday, June 11th. The shares were acquired at an average cost of $4.11 per share, with a total value of $253,176.00. The disclosure for this purchase can be found here. 22.49% of the stock is currently owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the company. Thompson Siegel & Walmsley LLC bought a new position in shares of Marchex during the first quarter valued at $55,000. Baker Avenue Asset Management LP bought a new position in Marchex during the fourth quarter worth $59,000. Raymond James Trust N.A. raised its stake in Marchex by 72.4% during the first quarter. Raymond James Trust N.A. now owns 19,426 shares of the technology company’s stock worth $92,000 after buying an additional 8,160 shares during the last quarter. Oppenheimer Asset Management Inc. raised its stake in Marchex by 44.4% during the first quarter. Oppenheimer Asset Management Inc. now owns 26,235 shares of the technology company’s stock worth $124,000 after buying an additional 8,067 shares during the last quarter. Finally, Marshall Wace North America L.P. bought a new position in Marchex during the first quarter worth $150,000. 51.28% of the stock is owned by hedge funds and other institutional investors.
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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