ChannelAdvisor Corp PT Raised to $46.00 at Stifel Nicolaus (ECOM)
Analysts at Stifel Nicolaus boosted their price objective on shares of ChannelAdvisor Corp (NASDAQ:ECOM) from $42.00 to $46.00 in a research report issued to clients and investors on Friday, Analyst Ratings.Net reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ target price would indicate a potential upside of 6.98% from the stock’s previous close.
The analysts wrote, “Similar to the re-acceleration we saw in ECOM’s other channels, we had expected SSS data in eBay to snapback to roughly 15% in December,” the report noted. “However, ECOM’s management believes eBay’s decision to not heavily invest in TV promotions and shift some spend to Google Shopping caused sales to be relatively flat at 11%. We expect this channel to improve in 2014, primarily on easing comps.”
Separately, analysts at Pacific Crest raised their price target on shares of ChannelAdvisor Corp from $40.00 to $48.00 in a research note to investors on Monday. Five equities research analysts have rated the stock with a buy rating, ChannelAdvisor Corp currently has a consensus rating of “Buy” and a consensus target price of $33.83.
ChannelAdvisor Corp (NASDAQ:ECOM) traded up 5.19% on Friday, hitting $46.17. 394,014 shares of the company’s stock traded hands. ChannelAdvisor Corp has a one year low of $14.25 and a one year high of $44.60. The stock has a 50-day moving average of $38.95 and a 200-day moving average of $31.57. The company’s market cap is $1.047 billion.
ChannelAdvisor Corp (NASDAQ:ECOM) last posted its quarterly earnings results on Monday, October 28th. The company reported ($0.18) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.27) by $0.09. The company had revenue of $16.60 million for the quarter, compared to the consensus estimate of $15.86 million. The company’s quarterly revenue was up 27.7% on a year-over-year basis. Analysts expect that ChannelAdvisor Corp will post $-0.89 EPS for the current fiscal year.
Channeladvisor Corporation is a provider of software-as-a-service, or SaaS, solutions that enables retailers and manufacturer customers to integrate, manage and optimize their merchandise sales across hundreds of online channels.
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