Marin Software (MRIN) – Get Report continued to rise Monday after the company recently said its ad management platform now lets users manage Instacart ads.
Shares of the San Francisco company at last check were skyrocketing 74% to $6.63. On Monday they’d touched a 52-week high $7.25.
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Last week, the company announced the enhancement to its MarinOne platform. Instacart is an online grocery platform that delivers groceries and other items from nearly 55,000 stores located in the U.S. and Canada.
Marin said the added ability to its platform will help advertisers better optimize the some $40 billion they spend in digital advertising geared to target consumers to buy goods and services that complement what they are already looking to purchase.
Marin Software provides enterprise marketing software for advertisers and agencies to integrate, align and amplify their digital advertising outlays across the web and mobile devices. The company has about 160 employees.
Last month, the company reported a first-quarter net loss of $2.1 million, or 21 cents a share, vs. a net loss of $7.7 million, or 58 cents a share, a year earlier. Revenue was $6.3 million compared with $8.7 million in first-quarter 2020.
For the second quarter, the company is expecting to post a non-GAAP operating loss of between $2.9 million and $3.4 million on revenue of $5.5 million to $6 million.
Marin Software was founded in April 2006. The company went public in March 2013, selling 7.5 million shares at $14 each, raising $105 million at a valuation of $425 million.
Separately, Shares of QAD (QADA) – Get Report surged Monday as the provider of integrated software solutions for manufacturers agreed to be acquired by private-equity firm Thoma Bravo for $87.50 a share, or $2 billion, cash.
Last week, Sprinklr (CXM) – Get Report, a customer experience software maker, rose in its first day of trading on the New York Stock Exchange.
