ReachLocal Rating Lowered to Neutral at Piper Jaffray (RLOC)
ReachLocal (NASDAQ:RLOC) was downgraded by investment analysts at Piper Jaffray to a “neutral” rating in a note issued to investors on Thursday. They currently have a $5.00 target price on the stock, down from their previous target price of $12.00. Piper Jaffray’s price objective points to a potential downside of 21.88% from the stock’s previous close.
Separately, 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. Three research analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. The company currently has an average rating of “Hold” and an average price target of $10.90.
ReachLocal (NASDAQ:RLOC) opened at 6.40 on Thursday. 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 $184.9 million.
ReachLocal (NASDAQ:RLOC) last released its earnings data on Wednesday, August 6th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating the 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 in the previous year, the company posted ($0.01) earnings per share. The company’s revenue for the quarter was down 2.5% on a year-over-year basis. Analysts expect that ReachLocal will post $-1.12 EPS 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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