Wall Street analysts forecast that Marchex, Inc. (NASDAQ:MCHX) will announce sales of $12.24 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Marchex’s earnings. The lowest sales estimate is $11.68 million and the highest is $12.80 million. Marchex posted sales of $12.69 million in the same quarter last year, which suggests a negative year-over-year growth rate of 3.5%. The business is scheduled to issue its next earnings report on Tuesday, March 1st.
On average, analysts expect that Marchex will report full year sales of $52.93 million for the current fiscal year, with estimates ranging from $52.36 million to $53.50 million. For the next year, analysts anticipate that the business will report sales of $56.90 million, with estimates ranging from $56.20 million to $57.59 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover Marchex.
MCHX has been the topic of several research analyst reports. Roth Capital dropped their price objective on Marchex from $4.75 to $4.00 and set a “buy” rating on the stock in a report on Tuesday, December 28th. TheStreet raised Marchex from a “d” rating to a “c-” rating in a research note on Friday, December 3rd. Finally, StockNews.com initiated coverage on Marchex in a research note on Tuesday. They issued a “hold” rating on the stock. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Marchex presently has an average rating of “Buy” and a consensus target price of $3.75.
Institutional investors have recently made changes to their positions in the stock. Kennedy Capital Management Inc. purchased a new stake in Marchex in the second quarter valued at $46,000. Millennium Management LLC raised its position in Marchex by 41.4% in the third quarter. Millennium Management LLC now owns 33,816 shares of the technology company’s stock valued at $101,000 after purchasing an additional 9,898 shares during the period. Squarepoint Ops LLC raised its position in Marchex by 102.6% in the second quarter. Squarepoint Ops LLC now owns 44,769 shares of the technology company’s stock valued at $137,000 after purchasing an additional 22,668 shares during the period. State Street Corp raised its position in Marchex by 706.3% in the second quarter. State Street Corp now owns 129,115 shares of the technology company’s stock valued at $395,000 after purchasing an additional 113,101 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in Marchex by 2.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 200,869 shares of the technology company’s stock valued at $498,000 after purchasing an additional 4,934 shares during the period. Hedge funds and other institutional investors own 59.91% of the company’s stock.
Shares of MCHX opened at $1.97 on Wednesday. Marchex has a 12 month low of $1.66 and a 12 month high of $3.63. The stock’s 50 day moving average is $2.42 and its two-hundred day moving average is $2.79. The firm has a market cap of $81.86 million, a P/E ratio of -10.94 and a beta of 1.79.
Marchex Company Profile
Marchex, Inc operates as a conversational analytics and solutions company which helps businesses connect, drive, measure, convert callers into customers, and connects the voice of the customer to business. It offers Marchex call analytics platform, Marchex call marketplace and Marchex local leads products to automotive, travel and hospitality, telecommunications, insurance, home services, digital agencies, healthcare, education & careers, financial services, legal, real estate and senior living industries.
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