ChannelAdvisor Corporation (ECOM) Given “Buy” Rating at Needham & Company LLC
ChannelAdvisor Corporation (NYSE:ECOM)‘s stock had its “buy” rating reissued by stock analysts at Needham & Company LLC in a research report issued on Sunday. They presently have a $18.00 price objective on the software maker’s stock. Needham & Company LLC’s price objective suggests a potential upside of 55.84% from the company’s previous close.
Several other analysts have also issued reports on ECOM. ValuEngine lowered ChannelAdvisor Corporation from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. TheStreet lowered ChannelAdvisor Corporation from a “c-” rating to a “d+” rating in a report on Monday, June 5th. Zacks Investment Research upgraded ChannelAdvisor Corporation from a “hold” rating to a “buy” rating and set a $13.00 price objective for the company in a report on Tuesday, June 13th. Robert W. Baird reiterated a “neutral” rating on shares of ChannelAdvisor Corporation in a report on Monday, July 3rd. Finally, BidaskClub lowered ChannelAdvisor Corporation from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 19th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $14.67.
Shares of ChannelAdvisor Corporation (NYSE:ECOM) opened at 11.55 on Friday. The firm’s 50-day moving average price is $10.56 and its 200-day moving average price is $11.14. ChannelAdvisor Corporation has a 52-week low of $9.80 and a 52-week high of $15.85. The stock’s market cap is $305.28 million.
ChannelAdvisor Corporation (NYSE:ECOM) last announced its quarterly earnings data on Thursday, August 3rd. The software maker reported ($0.15) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.10) by ($0.05). ChannelAdvisor Corporation had a negative return on equity of 7.63% and a negative net margin of 7.42%. The firm had revenue of $30.00 million for the quarter, compared to analysts’ expectations of $28.65 million. During the same quarter in the prior year, the business posted ($0.11) earnings per share. ChannelAdvisor Corporation’s revenue was up 10.7% on a year-over-year basis. On average, equities research analysts forecast that ChannelAdvisor Corporation will post ($0.02) earnings per share for the current fiscal year.
In other ChannelAdvisor Corporation news, Director Marc Huffman purchased 10,000 shares of the stock in a transaction dated Thursday, August 10th. The shares were bought at an average cost of $10.00 per share, with a total value of $100,000.00. Following the completion of the transaction, the director now owns 36,411 shares in the company, valued at approximately $364,110. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider M Scot Wingo sold 15,000 shares of the firm’s stock in a transaction dated Monday, June 19th. The shares were sold at an average price of $11.57, for a total value of $173,550.00. Following the completion of the sale, the insider now directly owns 867,896 shares in the company, valued at $10,041,556.72. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 45,000 shares of company stock worth $496,050. Corporate insiders own 11.30% of the company’s stock.
Several large investors have recently modified their holdings of ECOM. Teachers Advisors LLC grew its position in shares of ChannelAdvisor Corporation by 1.2% in the fourth quarter. Teachers Advisors LLC now owns 36,234 shares of the software maker’s stock valued at $520,000 after purchasing an additional 423 shares during the last quarter. Acadian Asset Management LLC grew its position in shares of ChannelAdvisor Corporation by 79.9% in the first quarter. Acadian Asset Management LLC now owns 13,259 shares of the software maker’s stock valued at $148,000 after purchasing an additional 5,890 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of ChannelAdvisor Corporation by 5.5% in the first quarter. Bank of New York Mellon Corp now owns 138,500 shares of the software maker’s stock valued at $1,544,000 after purchasing an additional 7,208 shares during the last quarter. Trexquant Investment LP acquired a new stake in shares of ChannelAdvisor Corporation in the first quarter valued at about $214,000. Finally, Alambic Investment Management L.P. acquired a new stake in shares of ChannelAdvisor Corporation in the first quarter valued at about $258,000. 81.72% of the stock is currently owned by institutional investors.
ChannelAdvisor Corporation Company Profile
Channeladvisor Corporation is a provider of Software as a service (SaaS) solutions. The Company’s SaaS solutions enable retailer and branded manufacturer customers to integrate, manage and optimize their merchandise sales via hundreds of online channels. The Company’s platform enable its customers to connect with new and existing sources of demand for their products, including e-commerce marketplaces, such as Amazon, eBay, Jet.com, Newegg, Sears and Walmart, search engines and comparison shopping Websites, such as Google, Microsoft’s Bing and Nextag, and social channels, such as Facebook, Instagram and Pinterest.
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