Local.com rises on website traffic announcement
Local.com Corp. (Nasdaq: LOCM) shares are rising after the localized Internet search provider reported Wednesday that its websites received 14% more unique monthly visitors during February than during January.
“Growing our organic traffic to over 50% of all traffic is a strategic objective for us,” said COO Bruce Crair said in a statement. “The investment we made during the second half of 2007 is paying off, with organic traffic reaching 37% of our total traffic, up from about 10% of all traffic a year ago.”
During February, Local.com and its network received 5.7 million unique visitors during February, up from January’s 5 million unique monthly visitors.
Jon Hickman, an analyst for the investment bank MDB Capital Group, said the announcement was “mildly positive.”
“It’s in line with what they said they were going to do,” Hickman said. “I think they’re a little bit ahead of the expected timeline, so that’s good news for them.”
In afternoon trading, LOCM shares are up 5.03%, or $0.20, at $4.18. Over the last 52 weeks, shares have ranged from $2.77 to $13.74.
