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 report released on Tuesday, Zacks.com reports. The brokerage presently has a $4.00 price target on the technology company’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 11.11% from the stock’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 Marchex from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. Marchex has a consensus rating of “Buy” and a consensus price target of $6.00.

MCHX opened at $3.60 on Tuesday. The business has a 50 day moving average price of $3.80 and a 200 day moving average price of $3.75. Marchex has a twelve month low of $3.01 and a twelve month high of $5.57. 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 firm has a market cap of $152.98 million, a P/E ratio of -60.00 and a beta of 1.58.

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

In other Marchex news, major shareholder Edenbrook Capital, Llc purchased 100,000 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were bought at an average cost of $3.78 per share, with a total value of $378,000.00. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last ninety days, insiders acquired 278,154 shares of company stock worth $1,074,991. Company insiders own 18.43% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Tower Research Capital LLC TRC bought a new position in Marchex in the 2nd quarter worth approximately $45,000. AMP Capital Investors Ltd bought a new position in Marchex in the 2nd quarter worth approximately $62,000. Cubist Systematic Strategies LLC bought a new position in Marchex in the 2nd quarter worth approximately $92,000. Rhumbline Advisers increased its position in Marchex by 15.3% in the 3rd 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 period. Finally, Hancock Whitney Corp bought a new position in Marchex in the 3rd quarter worth approximately $133,000. 55.49% of the stock is currently owned by institutional investors.

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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