$30.11 Million in Sales Expected for ChannelAdvisor Corporation (ECOM) This Quarter
Equities analysts forecast that ChannelAdvisor Corporation (NYSE:ECOM) will post sales of $30.11 million for the current quarter, according to Zacks Investment Research. Six analysts have issued estimates for ChannelAdvisor Corporation’s earnings. The highest sales estimate is $30.92 million and the lowest is $29.80 million. ChannelAdvisor Corporation reported sales of $27.99 million during the same quarter last year, which indicates a positive year over year growth rate of 7.6%. The firm is expected to issue its next earnings report on Thursday, November 2nd.
On average, analysts expect that ChannelAdvisor Corporation will report full year sales of $30.11 million for the current year, with estimates ranging from $123.37 million to $125.64 million. For the next financial year, analysts expect that the firm will report sales of $137.61 million per share, with estimates ranging from $134.48 million to $142.79 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow ChannelAdvisor Corporation.
ChannelAdvisor Corporation (NYSE:ECOM) last posted its earnings results on Thursday, August 3rd. The software maker reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.05). ChannelAdvisor Corporation had a negative net margin of 7.42% and a negative return on equity of 7.63%. The firm had revenue of $30.00 million during the quarter, compared to analyst estimates of $28.65 million. During the same quarter in the prior year, the firm earned ($0.11) earnings per share. The business’s revenue for the quarter was up 10.7% on a year-over-year basis.
ECOM has been the topic of a number of analyst reports. BidaskClub upgraded ChannelAdvisor Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, September 21st. DA Davidson began coverage on ChannelAdvisor Corporation in a research report on Friday, September 22nd. They issued a “neutral” rating and a $12.50 price objective for the company. Zacks Investment Research cut ChannelAdvisor Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, June 14th. Robert W. Baird reiterated a “neutral” rating on shares of ChannelAdvisor Corporation in a research report on Monday, July 3rd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $18.00 target price on shares of ChannelAdvisor Corporation in a report on Sunday, September 17th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company’s stock. ChannelAdvisor Corporation currently has a consensus rating of “Hold” and a consensus target price of $14.13.
Shares of ChannelAdvisor Corporation (ECOM) traded up 1.891% during mid-day trading on Wednesday, reaching $12.125. 30,116 shares of the company were exchanged. The stock has a 50 day moving average price of $10.96 and a 200-day moving average price of $11.21. ChannelAdvisor Corporation has a 12 month low of $9.80 and a 12 month high of $15.85. The stock’s market capitalization is $320.48 million.
In other news, Director Marc Huffman bought 10,000 shares of the firm’s stock in a transaction on Thursday, August 10th. The shares were bought at an average cost of $10.00 per share, for a total transaction of $100,000.00. Following the completion of the transaction, the director now owns 36,411 shares in the company, valued at $364,110. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider M Scot Wingo sold 15,000 shares of the business’s stock in a transaction on Monday, July 17th. The stock was sold at an average price of $11.09, for a total value of $166,350.00. Following the sale, the insider now owns 852,896 shares in the company, valued at $9,458,616.64. The disclosure for this sale can be found here. Insiders sold a total of 45,000 shares of company stock valued at $498,300 over the last ninety days. 11.30% of the stock is currently owned by company insiders.
Several hedge funds have recently made changes to their positions in ECOM. Janus Henderson Group PLC purchased a new position in shares of ChannelAdvisor Corporation in the second quarter valued at $26,368,000. Disciplined Growth Investors Inc. MN raised its stake in shares of ChannelAdvisor Corporation by 214.7% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 639,982 shares of the software maker’s stock worth $7,392,000 after buying an additional 436,618 shares during the last quarter. potrero capital research llc purchased a new stake in shares of ChannelAdvisor Corporation in the 1st quarter worth about $1,961,000. Archon Capital Management LLC boosted its position in shares of ChannelAdvisor Corporation by 42.5% in the 2nd quarter. Archon Capital Management LLC now owns 588,510 shares of the software maker’s stock worth $6,797,000 after buying an additional 175,467 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of ChannelAdvisor Corporation by 87.8% in the 1st quarter. Renaissance Technologies LLC now owns 238,076 shares of the software maker’s stock worth $2,655,000 after buying an additional 111,276 shares in the last quarter. Institutional investors and hedge funds own 81.50% of the company’s stock.
About ChannelAdvisor Corporation
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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