Zacks Investment Research upgraded shares of Marchex (NASDAQ:MCHX) from a hold rating to a buy rating in a research note published on Wednesday, Zacks.com reports. They currently have $5.25 price target 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. “
A number of other brokerages have also weighed in on MCHX. ValuEngine lowered Intersect ENT from a buy rating to a hold rating in a research note on Monday, June 3rd. Northland Securities restated a buy rating and issued a $100.00 target price on shares of Fortinet in a research note on Friday, May 3rd. Four analysts have rated the stock with a buy rating, The stock has a consensus rating of Buy and a consensus price target of $6.42.
NASDAQ:MCHX opened at $4.79 on Wednesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.50 and a current ratio of 3.50. Marchex has a 52-week low of $2.47 and a 52-week high of $5.57. The company’s fifty day moving average is $4.58.
Marchex (NASDAQ:MCHX) last announced its earnings results on Thursday, May 2nd. The technology company reported $0.01 earnings per share for the quarter. The business had revenue of $26.41 million for the quarter, compared to analyst estimates of $24.99 million. Marchex had a negative return on equity of 1.77% and a negative net margin of 3.40%. Research analysts forecast that Marchex will post -0.05 earnings per share for the current year.
In other news, major shareholder Long Only Value Fund Edenbrook acquired 61,600 shares of the business’s stock in a transaction dated Tuesday, June 11th. The stock was purchased at an average cost of $4.11 per share, for a total transaction of $253,176.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Edenbrook Capital, Llc acquired 15,608 shares of the business’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 disclosure for this purchase can be found here. 22.49% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently bought and sold shares of the company. Thompson Siegel & Walmsley LLC purchased a new position in shares of Marchex in the 1st quarter worth about $55,000. Baker Avenue Asset Management LP purchased a new position in shares of Marchex in the 4th quarter worth about $59,000. Raymond James Trust N.A. boosted its holdings in shares of Marchex by 72.4% in the 1st quarter. Raymond James Trust N.A. now owns 19,426 shares of the technology company’s stock worth $92,000 after purchasing an additional 8,160 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in shares of Marchex by 44.4% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 26,235 shares of the technology company’s stock worth $124,000 after purchasing an additional 8,067 shares in the last quarter. Finally, Marshall Wace North America L.P. purchased a new position in shares of Marchex in the 1st quarter worth about $150,000. Hedge funds and other institutional investors own 51.28% 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.
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