Analysts at BMO Capital downgraded Marchex MCHX from Outperform to Market Perform.
The target price for Marchex has been lowered from $14 to $5.
Marchex shares have declined 44.85% over the past 52 weeks, while the S&P 500 index has surged 17.63% in the same period.
Marchex's shares dipped 45.73% to closed at $4.07 yesterday.
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