Marchex (MCHX) Lifted to Strong-Buy at Zacks Investment Research

Marchex (NASDAQ:MCHX) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Friday, Zacks.com reports. The firm currently has a $6.00 price target on the technology company’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 15.83% 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. “

Several other analysts have also issued reports on MCHX. Roth Capital upgraded shares of Marchex from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $3.40 to $7.00 in a report on Monday, January 28th. TheStreet upgraded shares of Marchex from a “d+” rating to a “c-” rating in a report on Wednesday, January 30th. ValuEngine upgraded shares of Marchex from a “hold” rating to a “buy” rating in a report on Thursday, March 21st. Finally, Northland Securities restated a “buy” rating and issued a $7.00 price objective on shares of Marchex in a report on Friday, May 3rd. Two research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Strong Buy” and a consensus price target of $6.67.

Shares of MCHX opened at $5.18 on Friday. The stock has a market capitalization of $227.74 million, a P/E ratio of -86.33 and a beta of 1.55. Marchex has a 12-month low of $2.47 and a 12-month high of $5.57.

Marchex (NASDAQ:MCHX) last issued its quarterly earnings data on Thursday, May 2nd. The technology company reported $0.01 earnings per share (EPS) for the quarter. The firm had revenue of $26.41 million for the quarter, compared to analyst estimates of $24.99 million. Marchex had a negative net margin of 3.40% and a negative return on equity of 1.80%. As a group, equities analysts predict that Marchex will post -0.06 earnings per share for the current year.

A number of large investors have recently modified their holdings of the business. We Are One Seven LLC increased its stake in Marchex by 20.2% during the fourth quarter. We Are One Seven LLC now owns 19,400 shares of the technology company’s stock worth $51,000 after purchasing an additional 3,260 shares during the period. Oppenheimer Asset Management Inc. increased 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 purchasing an additional 8,067 shares during the period. Raymond James Trust N.A. increased 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 purchasing an additional 8,160 shares during the period. Algert Global LLC purchased a new stake in Marchex during the fourth quarter worth about $29,000. Finally, FNY Investment Advisers LLC purchased a new stake in Marchex during the fourth quarter worth about $42,000. Institutional investors own 48.57% of the company’s stock.

About Marchex

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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