CommerceHub, Inc. (NASDAQ:CHUBA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Monday. The firm presently has a $22.00 target price on the technology company’s stock. Zacks Investment Research‘s target price points to a potential upside of 11.51% from the company’s previous close.

According to Zacks, “CommerceHub, Inc. provides distributed commerce network which connecting supply, demand and delivery for retailers and brands. CommerceHub, Inc. is headquartered in Albany, United States. “

CommerceHub (NASDAQ CHUBA) traded up 1.54% during trading on Monday, hitting $19.73. 76,012 shares of the stock were exchanged. The company has a 50-day moving average price of $17.60 and a 200 day moving average price of $16.35. CommerceHub has a 1-year low of $11.91 and a 1-year high of $19.81. The firm has a market capitalization of $852.59 million and a price-to-earnings ratio of 75.02.

CommerceHub (NASDAQ:CHUBA) last released its earnings results on Wednesday, August 2nd. The technology company reported $0.05 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by $0.03. The firm had revenue of $25.21 million during the quarter, compared to analysts’ expectations of $25.76 million. CommerceHub had a return on equity of 36.84% and a net margin of 10.81%. Equities analysts predict that CommerceHub will post $0.48 earnings per share for the current fiscal year.

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A number of large investors have recently made changes to their positions in the stock. Vaughan Nelson Investment Management L.P. bought a new stake in shares of CommerceHub during the second quarter worth about $18,142,000. Pembroke Management LTD bought a new stake in shares of CommerceHub during the second quarter worth about $15,480,000. Locust Wood Capital Advisers LLC bought a new stake in shares of CommerceHub during the second quarter worth about $3,752,000. Gamco Investors INC. ET AL bought a new stake in shares of CommerceHub during the second quarter worth about $2,126,000. Finally, S&CO Inc. bought a new stake in shares of CommerceHub during the second quarter worth about $2,104,000. 80.89% of the stock is owned by institutional investors and hedge funds.

About CommerceHub

CommerceHub, Inc is a provider of cloud-based e-commerce fulfillment and marketing solutions that integrate supply, demand and delivery for retailers and consumer brands, manufacturers and distributors. The Company’s end-to-end solutions are provided through the CommerceHub software platform, a hub that streamlines integration and enables transactions among its retailer and supplier customers and their other trading partners, while also enabling them to access the online marketplaces, search engines, social and product advertising and other digital marketing channels where consumers browse and buy.

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