ReachLocal Inc. (NASDAQ:RLOC) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $4.59 and last traded at $4.57, with a volume of 137,367 shares traded. The stock had previously closed at $4.56.

Separately, Piper Jaffray Cos. reiterated a “hold” rating and issued a $2.60 price target on shares of ReachLocal in a research note on Thursday, June 2nd.

The firm has a 50 day moving average of $2.54 and a 200-day moving average of $1.96. The firm’s market capitalization is $137.76 million.

ReachLocal (NASDAQ:RLOC) last issued its quarterly earnings results on Tuesday, May 3rd. The company reported ($0.12) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.21) by $0.09. During the same quarter in the previous year, the business earned ($0.35) EPS. The company had revenue of $78.70 million for the quarter, compared to analysts’ expectations of $77.70 million. The company’s revenue for the quarter was down 21.0% on a year-over-year basis. On average, equities analysts anticipate that ReachLocal Inc. will post ($0.51) EPS for the current fiscal year.

ReachLocal, Inc (ReachLocal) offers a technology suite of online marketing and reporting solutions designed to deliver efficacy and insight to its clients. The Company’s total digital marketing solution consists of products and solutions in three categories: software (ReachEdge and Kickserv), digital advertising (including ReachSearch, ReachDisplay and ReachRetargeting), and Web presence (including ReachSite + ReachEdge, ReachSEO, ReachCast and TotalLiveChat).

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