Zacks Investment Research upgraded shares of Inuvo (NYSEAMERICAN:INUV) from a hold rating to a buy rating in a research note issued to investors on Thursday, Zacks.com reports. They currently have $0.25 price objective on the technology company’s stock.
According to Zacks, “Inuvo is an Internet marketing and technology company that delivers purchase-ready customers to advertisers through a broad network of websites and applications reaching both desktop and mobile devices. They deliver content and targeted advertisements over the internet and generate revenue when an end user clicks on the advertisements they delivered. They manage their business as two segments, the Partner Network and the Owned and Operated Network. The Partner Network delivers advertisements to their partners’ websites and applications on desktop, tablet and mobile devices. Their proprietary technology platform allows for targeted distribution of advertisements at a scale that measures in the hundreds of millions of advertisements delivered monthly. The Owned and Operated Network designs, builds and markets consumer websites and applications. This segment consists of their mobile-ready ALOT websites and is focused on providing engaging content to their users. “
Shares of INUV stock opened at $0.29 on Thursday. Inuvo has a 1 year low of $0.19 and a 1 year high of $1.75.
Inuvo (NYSEAMERICAN:INUV) last announced its earnings results on Wednesday, August 14th. The technology company reported ($0.06) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.13) by $0.07. The company had revenue of $14.05 million for the quarter, compared to the consensus estimate of $13.30 million.
In other Inuvo news, Director Charles D. Morgan purchased 1,650,000 shares of the firm’s stock in a transaction on Monday, July 15th. The shares were purchased at an average price of $0.30 per share, for a total transaction of $495,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
An institutional investor recently raised its position in Inuvo stock. Vanguard Group Inc. grew its position in Inuvo Inc (NYSEAMERICAN:INUV) by 8.0% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 626,882 shares of the technology company’s stock after purchasing an additional 46,199 shares during the period. Vanguard Group Inc. owned about 1.35% of Inuvo worth $264,000 as of its most recent filing with the SEC.
Inuvo Company Profile
Inuvo, Inc, together with its subsidiaries, a technology company, provides data-driven platforms that automatically identify and message online audiences across video, mobile, connected TV, display, and social and native devices, channels, and formats in the United States. The company's digital marketplace allows advertisers and publishers the opportunity to buy and sell advertising space in real time.
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