ReachLocal Inc. (RLOC) Hits New 52-Week High at $4.57
ReachLocal Inc. (NASDAQ:RLOC) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $4.57 and last traded at $4.57, with a volume of 74,436 shares. The stock had previously closed at $4.55.
Separately, Piper Jaffray Cos. reissued a “hold” rating and set a $2.60 target price on shares of ReachLocal in a research note on Thursday, June 2nd.
The firm’s market cap is $137.46 million. The firm’s 50-day moving average price is $2.21 and its 200-day moving average price is $1.87.
ReachLocal (NASDAQ:RLOC) last issued its quarterly earnings data on Tuesday, May 3rd. The company reported ($0.12) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.21) by $0.09. The company had revenue of $78.70 million for the quarter, compared to analysts’ expectations of $77.70 million. During the same period in the previous year, the firm posted ($0.35) earnings per share. The firm’s revenue for the quarter was down 21.0% compared to the same quarter last year. On average, equities research analysts anticipate that ReachLocal Inc. will post ($0.51) EPS for the current fiscal year.
An institutional investor recently raised its position in ReachLocal stock. Morgan Stanley increased its position in shares of ReachLocal Inc. (NASDAQ:RLOC) by 1.4% during the fourth quarter, Holdings Channel reports. The fund owned 2,315,810 shares of the company’s stock after buying an additional 31,539 shares during the period. Morgan Stanley owned about 7.87% of ReachLocal worth $3,821,000 at the end of the most recent quarter.
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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