ChannelAdvisor (NYSE:ECOM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday. The brokerage currently has a $12.00 price target on the software maker’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 10.40% from the stock’s previous close.
According to Zacks, “Channel Advisor Corporation offers cloud-based e-commerce solutions and services. It solutions include marketplaces, comparison shopping, paid search, social campaigns, flex feeds, web stores and rich media. The company serves traditional retailers, online retailers, brand manufacturers and advertising agencies. Channel Advisor Corporation is headquartered in Morrisville, North Carolina. “
Get ChannelAdvisor alerts:Separately, B. Riley set a $31.00 price objective on shares of ChannelAdvisor and gave the stock a “buy” rating in a research note on Tuesday, November 6th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $17.29.
NYSE ECOM traded up $0.04 on Wednesday, reaching $10.87. The company had a trading volume of 84,427 shares, compared to its average volume of 67,641. The firm has a market cap of $298.80 million, a PE ratio of -20.51 and a beta of 0.07. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 0.02. ChannelAdvisor has a 1-year low of $8.45 and a 1-year high of $15.63.
ChannelAdvisor (NYSE:ECOM) last announced its earnings results on Thursday, November 8th. The software maker reported ($0.08) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.14) by $0.06. The firm had revenue of $32.30 million during the quarter, compared to analyst estimates of $31.64 million. ChannelAdvisor had a negative net margin of 6.64% and a negative return on equity of 10.13%. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.15) EPS. Equities research analysts forecast that ChannelAdvisor will post -0.34 EPS for the current year.
In other news, insider M Scot Wingo sold 3,600 shares of the stock in a transaction dated Tuesday, December 4th. The shares were sold at an average price of $10.64, for a total transaction of $38,304.00. Following the completion of the transaction, the insider now directly owns 644,607 shares in the company, valued at approximately $6,858,618.48. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 7.80% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. BlackRock Inc. raised its holdings in shares of ChannelAdvisor by 0.6% in the 3rd quarter. BlackRock Inc. now owns 1,705,886 shares of the software maker’s stock valued at $21,238,000 after purchasing an additional 9,334 shares during the period. Vanguard Group Inc. raised its holdings in ChannelAdvisor by 3.5% in the 3rd quarter. Vanguard Group Inc. now owns 1,206,443 shares of the software maker’s stock valued at $15,019,000 after acquiring an additional 40,794 shares during the period. Vanguard Group Inc raised its holdings in ChannelAdvisor by 3.5% in the 3rd quarter. Vanguard Group Inc now owns 1,206,443 shares of the software maker’s stock valued at $15,019,000 after acquiring an additional 40,794 shares during the period. Renaissance Technologies LLC raised its holdings in ChannelAdvisor by 42.3% in the 3rd quarter. Renaissance Technologies LLC now owns 375,659 shares of the software maker’s stock valued at $4,677,000 after acquiring an additional 111,659 shares during the period. Finally, Northern Trust Corp raised its holdings in ChannelAdvisor by 2.1% in the 2nd quarter. Northern Trust Corp now owns 320,067 shares of the software maker’s stock valued at $4,497,000 after acquiring an additional 6,441 shares during the period. 75.09% of the stock is currently owned by institutional investors.
ChannelAdvisor Company Profile
ChannelAdvisor Corporation provides software-as-a-service solutions in the United States and internationally. Its e-commerce cloud platform helps retailers and branded manufacturers to improve their online performance by expanding sales channels, connecting with consumers around the world, optimizing their operations for peak performance, and providing actionable analytics to improve competitiveness.
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