Marchex (NASDAQ: MCHX) was upgraded by equities research analysts at BMO Capital Markets from a “market perform” rating to an “outperform” rating in a research note issued to investors on Monday.
Separately, analysts at Benchmark Co. cut their price target on shares of Marchex to $4.00 in a research note to investors on Thursday. Analysts at B. Riley downgraded shares of Marchex from a “buy” rating to a “neutral” rating in a research note to investors on Thursday. They now have a $5.00 price target on the stock. Also, analysts at RBC Capital (NYSE: RY) cut their price target on shares of Marchex from $10.00 to $6.00 in a research note to investors on Thursday. They now have a “sector perform” rating on the stock.
Marchex, Inc. is a performance marketing company. The Company delivers call and click-based advertising products to advertisers. The Company offers products, services and technologies that enable advertisers to reach local consumers across online, mobile and offline sources. Its products and services primarily include pay-per-click advertising and related services, call-based advertising and related services and its publishing network. In addition, the Company provides a line of performance marketing products, including a private-label line of products for small and medium-sized businesses, a network of reseller partners, including Yellow Pages publishers, media and telecommunications companies and vertical marketing service providers. It generates revenue from two primary sources: Local Advertising Services and Publishing Network. During the year ended December 31, 2009, revenue from its Local Advertising Services accounted for approximately 66% of total revenues.
Marchex opened at 4.73 on Monday. Marchex has a 1-year low of $4.17 and a 1-year high of $10.87. The stock has a 50-day moving average of $5.70 and a 200-day moving average of $7.8. The company has a market cap of $158.6 million and a price-to-earnings ratio of 67.57.
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