Zacks Investment Research Upgrades Marchex (NASDAQ:MCHX) to “Buy”

Marchex (NASDAQ:MCHX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday, reports. The firm currently has a $4.00 price target on the technology company’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 4.99% from the company’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 raised shares of Marchex from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Marchex has an average rating of “Buy” and a consensus target price of $6.00.

NASDAQ:MCHX traded down $0.01 during midday trading on Tuesday, reaching $3.81. 720 shares of the stock traded hands, compared to its average volume of 73,012. Marchex has a 12-month low of $3.01 and a 12-month high of $5.57. The business has a 50-day moving average of $3.79 and a two-hundred day moving average of $3.74. The company has a debt-to-equity ratio of 0.06, a quick ratio of 4.28 and a current ratio of 4.28. The stock has a market capitalization of $155.13 million, a PE ratio of -64.29 and a beta of 1.58.

Marchex (NASDAQ:MCHX) last posted its earnings results on Wednesday, November 6th. The technology company reported ($0.02) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.02. Marchex had a negative net margin of 4.24% and a negative return on equity of 0.58%. The company had revenue of $24.79 million during the quarter, compared to analysts’ expectations of $24.05 million. Research analysts anticipate that Marchex will post -0.05 earnings per share for the current year.

In related news, major shareholder Edenbrook Capital, Llc purchased 16,473 shares of the firm’s stock in a transaction on Wednesday, January 8th. The stock was acquired at an average price of $3.69 per share, with a total value of $60,785.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In the last ninety days, insiders acquired 278,154 shares of company stock valued at $1,074,991. Corporate insiders own 18.43% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of MCHX. Tower Research Capital LLC TRC purchased a new position in shares of Marchex in the second quarter worth $45,000. AMP Capital Investors Ltd purchased a new position in shares of Marchex in the second quarter worth $62,000. Cubist Systematic Strategies LLC purchased a new position in shares of Marchex in the second quarter worth $92,000. Rhumbline Advisers raised its holdings in shares of Marchex by 15.3% in the third quarter. Rhumbline Advisers now owns 37,895 shares of the technology company’s stock worth $119,000 after buying an additional 5,022 shares during the last quarter. Finally, Hancock Whitney Corp purchased a new position in shares of Marchex in the third quarter worth $133,000. 55.49% of the stock is owned by institutional investors and hedge funds.

Marchex Company Profile

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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