Deutsche Bank Reaffirms “Buy” Rating for ChannelAdvisor Corp (ECOM)
ChannelAdvisor Corp (NASDAQ:ECOM)‘s stock had its “buy” rating reaffirmed by research analysts at Deutsche Bank in a report released on Tuesday. They currently have a $22.00 target price on the stock, down from their previous target price of $28.00. Deutsche Bank’s target price points to a potential upside of 38.19% from the stock’s previous close.
ChannelAdvisor Corp (NASDAQ:ECOM) traded up 1.38% on Tuesday, hitting $16.14. The stock had a trading volume of 69,384 shares. ChannelAdvisor Corp has a 52-week low of $15.31 and a 52-week high of $49.90. The stock has a 50-day moving average of $21.27 and a 200-day moving average of $29.35. The company’s market cap is $399.2 million.
ChannelAdvisor Corp (NASDAQ:ECOM) last announced its earnings results on Monday, August 4th. The company reported ($0.30) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.31) by $0.01. The company had revenue of $20.80 million for the quarter, compared to the consensus estimate of $20.00 million. During the same quarter last year, the company posted ($0.25) earnings per share. The company’s quarterly revenue was up 30.0% on a year-over-year basis. On average, analysts predict that ChannelAdvisor Corp will post $-1.03 earnings per share for the current fiscal year.
ECOM has been the subject of a number of other recent research reports. Analysts at Stifel Nicolaus cut their price target on shares of ChannelAdvisor Corp from $40.00 to $30.00 in a research note on Tuesday, August 5th. They now have a “buy” rating on the stock. Separately, analysts at BMO Capital Markets cut their price target on shares of ChannelAdvisor Corp from $31.00 to $23.00 in a research note on Tuesday, August 5th. They now have a “market perform” rating on the stock. Finally, analysts at Goldman Sachs cut their price target on shares of ChannelAdvisor Corp from $38.00 to $30.00 in a research note on Thursday, May 22nd. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. ChannelAdvisor Corp currently has a consensus rating of “Buy” and an average target price of $33.22.
In other ChannelAdvisor Corp news, Director Robert Hower unloaded 135,789 shares of the company’s stock on the open market in a transaction dated Monday, August 11th. The stock was sold at an average price of $16.46, for a total value of $2,235,086.94. The sale was disclosed in a legal filing with the SEC, which is available at 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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