Marchex’s (MCHX) Buy Rating Reaffirmed at Northland Securities

Northland Securities reiterated their buy rating on shares of Marchex (NASDAQ:MCHX) in a research report sent to investors on Friday morning, AnalystRatings.com reports. They currently have a $7.00 target price on the technology company’s stock.

Other equities research analysts have also issued research reports about the stock. Roth Capital raised shares of Marchex from a neutral rating to a buy rating and boosted their price target for the stock from $3.40 to $7.00 in a report on Monday, January 28th. ValuEngine raised shares of Marchex from a hold rating to a buy rating in a report on Thursday, March 21st. Zacks Investment Research raised shares of Marchex from a hold rating to a buy rating and set a $5.00 price target for the company in a report on Friday, February 15th. Finally, TheStreet raised shares of Marchex from a d+ rating to a c- rating in a report on Wednesday, January 30th. One research analyst has rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $6.33.

Shares of NASDAQ MCHX opened at $5.26 on Friday. Marchex has a one year low of $2.47 and a one year high of $5.57.

Marchex (NASDAQ:MCHX) last issued its quarterly earnings results on Thursday, May 2nd. The technology company reported $0.01 EPS for the quarter. The company had revenue of $26.41 million during 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%. Sell-side analysts forecast that Marchex will post -0.06 EPS for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC grew its holdings in shares of Marchex by 3.1% during the third quarter. Renaissance Technologies LLC now owns 1,791,134 shares of the technology company’s stock worth $4,979,000 after buying an additional 53,400 shares in the last quarter. Ancora Advisors LLC grew its holdings in shares of Marchex by 3.0% during the fourth quarter. Ancora Advisors LLC now owns 1,563,704 shares of the technology company’s stock worth $4,144,000 after buying an additional 46,134 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Marchex by 8.1% during the fourth quarter. BlackRock Inc. now owns 858,380 shares of the technology company’s stock worth $2,275,000 after buying an additional 64,386 shares in the last quarter. Royce & Associates LP purchased a new stake in shares of Marchex during the fourth quarter worth $1,550,000. Finally, Acadian Asset Management LLC grew its holdings in shares of Marchex by 7.3% during the fourth quarter. Acadian Asset Management LLC now owns 520,074 shares of the technology company’s stock worth $1,378,000 after buying an additional 35,223 shares in the last quarter. 48.57% 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.

Further Reading: Fundamental Analysis – How It Helps Investors

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