ChannelAdvisor Corp (ECOM) Releases Quarterly Earnings Results
ChannelAdvisor Corp (NASDAQ:ECOM) released its earnings data on Thursday. The company reported ($0.21) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.29) by $0.08, AnalystRatingsNetwork.com reports. The company had revenue of $20.50 million for the quarter, compared to the consensus estimate of $19.86 million. During the same quarter in the prior year, the company posted $0.05 earnings per share. The company’s quarterly revenue was up 28.1% on a year-over-year basis.
ECOM has been the subject of a number of recent research reports. Analysts at BMO Capital Markets initiated coverage on shares of ChannelAdvisor Corp in a research note to investors on Thursday, January 23rd. They set a “market perform” rating on the stock. On a related note, analysts at Deutsche Bank initiated coverage on shares of ChannelAdvisor Corp in a research note to investors on Wednesday, January 22nd. They set a “hold” rating and a $50.00 price target on the stock. Finally, analysts at Goldman Sachs Group Inc. downgraded shares of ChannelAdvisor Corp from a “buy” rating to a “neutral” rating in a research note to investors on Tuesday, January 14th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. ChannelAdvisor Corp currently has an average rating of “Buy” and an average target price of $41.80.
ChannelAdvisor Corp (NASDAQ:ECOM) traded up 1.08% during mid-day trading on Thursday, hitting $40.07. 347,788 shares of the company’s stock traded hands. ChannelAdvisor Corp has a 52 week low of $14.25 and a 52 week high of $49.75. The stock has a 50-day moving average of $43.41 and a 200-day moving average of $35.38. The company’s market cap is $908.5 million.
In other ChannelAdvisor Corp news, COO David Spitz unloaded 13,500 shares of the stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $41.46, for a total transaction of $559,710.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
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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