ReachLocal Given Average Rating of “Hold” by Brokerages (NASDAQ:RLOC)
ReachLocal (NASDAQ:RLOC) has been given an average recommendation of “Hold” by the eight analysts that are covering the stock, Analyst Ratings.Net reports. Three research analysts have rated the stock with a sell recommendation and five have assigned a hold recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $10.90.
A number of analysts have recently weighed in on RLOC shares. Analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of ReachLocal in a research note on Thursday. They now have a $6.00 price target on the stock, down previously from $8.00. Separately, analysts at Piper Jaffray downgraded shares of ReachLocal from an “overweight” rating to a “neutral” rating in a research note on Thursday. They now have a $5.00 price target on the stock, down previously from $12.00. Finally, analysts at Bank of America downgraded shares of ReachLocal to an “underperform” rating in a research note on Tuesday, June 3rd. They now have a $7.00 price target on the stock, down previously from $7.50.
Shares of ReachLocal (NASDAQ:RLOC) traded down 8.44% on Thursday, hitting $5.86. The stock had a trading volume of 93,963 shares. ReachLocal has a 52 week low of $5.87 and a 52 week high of $14.30. The stock has a 50-day moving average of $6.83 and a 200-day moving average of $8.94. The company’s market cap is $169.3 million.
ReachLocal (NASDAQ:RLOC) last announced its earnings results on Wednesday, August 6th. The company reported ($0.23) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.41) by $0.18. The company had revenue of $123.60 million for the quarter, compared to the consensus estimate of $122.80 million. During the same quarter last year, the company posted ($0.01) earnings per share. ReachLocal’s revenue was down 2.5% compared to the same quarter last year. On average, analysts predict that ReachLocal will post $-1.12 earnings per share for the current fiscal year.
ReachLocal, Inc (NASDAQ:RLOC) 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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