Roth Capital Upgrades Marchex (MCHX) to Buy

Roth Capital analyst Darren Aftahi upgraded Marchex (NASDAQ: MCHX) from Neutral to Buy with a price target of $7.00 (from $3.40).

The analyst comments "Its transformation to a majority comprised analytics company (projected FY19 end), along with that segment’s subscription-based model and higher margin profile, should shift MCHX into a growth business in FY19 and beyond. Its unique data set highly differentiates its model, while our sum-of-the-parts valuation (by business segment) suggests significant stock upside ahead to $7..."

For an analyst ratings summary and ratings history on Marchex click here. For more ratings news on Marchex click here.

Shares of Marchex closed at $3.94 yesterday.

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