Marin Software Incorporated (NASDAQ:MRIN) shares rose Monday. Marin shares gained over 8% on Friday after the company on Wednesday announced it has added the ability to manage Instacart Ads to its flagship MarinOne platform.
Marin said the added ability to its platform will help advertisers better optimize the some $40 billion they spend in digital advertising geared towards targeting consumers to buy goods and services that compliment what they are already looking to purchase.
San Francisco-based Marin last month reported a first-quarter net loss of $2.12 million, or 21 cents a share, vs. a net loss of $7.73 million, or 58 cents a share, a year earlier. Revenue was $6.3 million compared to $8.7 million in the first quarter of 2020.
Marin Software provides enterprise marketing software for advertisers and agencies to integrate, align, and amplify their digital advertising spend across the web and mobile devices. Its stock is up 3.64% over the past five trading days though down 14.07% year to date. The NASDAQ-traded stock hasn’t traded above $10 since January 2018.
Instacart is a high-growth tactic for retailers with low investment, analysts at NielsenIQ wrote in an April 23 report. “Retailers can benefit greatly from engaging directly with Instacart to take ownership of their presence on Instacart’s platform, their in-store Instacart dynamics, and the platform’s rich data from Instacart shoppers,” the report noted.
MRIN shares jumped $1.97, or 51.7%, to $5.78.