ClickAction (Nasdaq: CLAC) will split its shares next month.
After market close Wednesday, the provider of e-mail marketing software and services announced a 2-for-1 stock split, to take effect April 20 for shareholders of April 5 record. It will be the ClickAction's first stock division since going public in 1995.
The company will have about 11.2 million shares outstanding following the split.
Shares of ClickAction soared to an all-time high in early March. Although the stock currently trades below that peak, ClickAction rose this week after Banc of America Securities analyst Greg Vogel began coverage of the stock with a "buy" rating and a price target of $87 per share.
Vogel described ClickAction as a leader in its niche. A recently unveiled partnership with Broadvision (Nasdaq: BVSN) should raise ClickAction's profile, Vogel said.
Also Wednesday, ABN Amro analyst Jackson Spears raised his ClickAction price target to $65 from $45 per share. Spears and Vogel forecast e-mail marketing revenue of about $10 million for ClickAction's fiscal 2001.
ClickAction stock traded as high as 60 in afterhours activity on the Island electronic communications network. Shares closed Wednesday's regular trading at 51, up 7 3/8 for the session.>