ReachLocal Rating Increased to Buy at Craig Hallum (RLOC)

By admin | 7 years ago

ReachLocal (NASDAQ: RLOC) was upgraded by Craig Hallum from a “hold” rating to a “buy” rating in a research note issued on Wednesday.

Several other analysts have also recently commented on the stock. Analysts at Needham & Company reiterated a “buy” rating on shares of ReachLocal in a research note to investors on Monday, March 12nd. Separately, analysts at Barclays Capital (NYSE: BCS) cut their price target on shares of ReachLocal from $14.00 to $11.00 in a research note to investors on Thursday, February 16th. They now have an “equal weight” rating on the stock.

ReachLocal traded up 3.64% on Wednesday, hitting $9.1825. ReachLocal has a 1-year low of $6.05 and a 1-year high of $25.20. The company’s market cap is $260.5 million.

The company last announced its quarterly results on Tuesday, May 1st. It reported ($0.03) earnings per share (EPS) for the previous quarter, missing the Thomson Reuters consensus estimate of $0.04 EPS by $0.07. The company’s quarterly revenue was up 23.7% on a year-over-year basis. Analysts expect that ReachLocal will post $-0.02 EPS next quarter.

ReachLocal, Inc. (ReachLocal) offers online marketing and reporting solutions, including search engine marketing, display advertising, remarketing and online marketing analytics, each targeted to the small and medium-sized businesses (SMB) market.

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