Amber Road Inc. (AMBR) Receives Consensus Rating of “Buy” from Brokerages
Shares of Amber Road Inc. (NYSE:AMBR) have received an average recommendation of “Buy” from the seven analysts that are covering the company. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $10.80.
Several research analysts have weighed in on AMBR shares. Zacks Investment Research upgraded Amber Road from a “hold” rating to a “buy” rating and set a $11.00 price target for the company in a research note on Wednesday, August 10th. Stifel Nicolaus upped their price target on Amber Road from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Friday, August 5th. Needham & Company LLC restated a “buy” rating and issued a $11.00 price target (up from $7.00) on shares of Amber Road in a research note on Monday, June 20th. Pacific Crest restated a “hold” rating on shares of Amber Road in a research note on Friday, August 5th. Finally, Raymond James Financial Inc. upped their price target on Amber Road from $10.50 to $13.00 and gave the stock an “outperform” rating in a research note on Monday, August 15th.
Shares of Amber Road (NYSE:AMBR) traded down 1.15% during trading on Thursday, reaching $9.43. 83,528 shares of the company’s stock traded hands. Amber Road has a 52-week low of $3.42 and a 52-week high of $11.29. The company’s market cap is $249.52 million. The company’s 50-day moving average is $10.04 and its 200 day moving average is $7.74.
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Amber Road (NYSE:AMBR) last posted its quarterly earnings results on Thursday, August 4th. The company reported ($0.19) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.17) by $0.02. Amber Road had a negative return on equity of 52.48% and a negative net margin of 33.51%. The business earned $18.10 million during the quarter, compared to the consensus estimate of $17.77 million. During the same quarter in the previous year, the company earned ($0.19) earnings per share. The company’s revenue for the quarter was up 4.4% compared to the same quarter last year. Equities analysts forecast that Amber Road will post ($0.51) EPS for the current year.
In related news, VP Albert C. Cooke III sold 20,080 shares of the firm’s stock in a transaction on Monday, August 15th. The stock was sold at an average price of $10.50, for a total value of $210,840.00. Following the completion of the sale, the vice president now directly owns 31,914 shares in the company, valued at $335,097. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Donald R. Caldwell sold 1,450,000 shares of the firm’s stock in a transaction on Wednesday, September 14th. The stock was sold at an average price of $9.00, for a total value of $13,050,000.00. The disclosure for this sale can be found here. 32.30% of the stock is owned by corporate insiders.
A number of hedge funds have recently modified their holdings of the company. Royce & Associates LP increased its stake in shares of Amber Road by 67.8% in the first quarter. Royce & Associates LP now owns 1,176,950 shares of the company’s stock worth $6,367,000 after buying an additional 475,585 shares in the last quarter. State Street Corp increased its stake in shares of Amber Road by 40.4% in the first quarter. State Street Corp now owns 172,471 shares of the company’s stock worth $934,000 after buying an additional 49,644 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Amber Road by 22.6% in the first quarter. Geode Capital Management LLC now owns 64,648 shares of the company’s stock worth $349,000 after buying an additional 11,904 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Amber Road by 62.6% in the first quarter. Renaissance Technologies LLC now owns 171,100 shares of the company’s stock worth $926,000 after buying an additional 65,900 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Amber Road by 22.8% in the second quarter. Bank of New York Mellon Corp now owns 88,380 shares of the company’s stock worth $682,000 after buying an additional 16,413 shares in the last quarter. Institutional investors own 57.42% of the company’s stock.
About Amber Road
Amber Road, Inc is a provider of cloud-based global trade management (GTM) solutions. The Company’s GTM solutions include modules for logistics contract and rate management, supply chain visibility and event management, international trade compliance, and Global Knowledge trade content database to importers and exporters, non-vessel owning common carriers (resellers), and ocean carriers.
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