ChannelAdvisor Corporation (ECOM) Expected to Announce Quarterly Sales of $30.11 Million
Wall Street analysts expect that ChannelAdvisor Corporation (NYSE:ECOM) will announce sales of $30.11 million for the current fiscal quarter, Zacks Investment Research reports. Six analysts have provided estimates for ChannelAdvisor Corporation’s earnings. The lowest sales estimate is $29.80 million and the highest is $30.92 million. ChannelAdvisor Corporation reported sales of $27.99 million during the same quarter last year, which would suggest a positive year over year growth rate of 7.6%. The business is scheduled to report its next earnings report after the market closes on Thursday, November 2nd.
On average, analysts expect that ChannelAdvisor Corporation will report full year sales of $30.11 million for the current fiscal year, with estimates ranging from $123.37 million to $125.64 million. For the next financial year, analysts forecast that the firm will report sales of $137.61 million per share, with estimates ranging from $134.48 million to $142.79 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for ChannelAdvisor Corporation.
ChannelAdvisor Corporation (NYSE:ECOM) last posted its quarterly earnings results 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 business had revenue of $30.00 million during the quarter, compared to analyst estimates of $28.65 million. During the same period last year, the company earned ($0.11) EPS. The business’s revenue for the quarter was up 10.7% on a year-over-year basis.
A number of analysts have recently weighed in on the stock. BidaskClub downgraded shares of ChannelAdvisor Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, September 27th. Robert W. Baird reiterated a “neutral” rating on shares of ChannelAdvisor Corporation in a research report on Monday, July 3rd. KeyCorp reiterated a “hold” rating on shares of ChannelAdvisor Corporation in a research report on Friday, August 25th. Needham & Company LLC reiterated a “buy” rating and set a $18.00 price objective on shares of ChannelAdvisor Corporation in a research report on Sunday, September 17th. Finally, DA Davidson initiated coverage on shares of ChannelAdvisor Corporation in a research report on Friday, September 22nd. They set a “neutral” rating and a $12.50 price objective for the company. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company’s stock. ChannelAdvisor Corporation presently has a consensus rating of “Hold” and an average target price of $14.50.
In other ChannelAdvisor Corporation news, Director Marc Huffman purchased 10,000 shares of the firm’s stock in a transaction on Thursday, August 10th. The stock was purchased at an average cost of $10.00 per share, for a total transaction of $100,000.00. Following 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 SEC, which is accessible through this hyperlink. Also, insider M Scot Wingo sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 29th. The shares were sold at an average price of $10.41, for a total transaction of $156,150.00. Following the completion of the transaction, the insider now owns 837,896 shares of the company’s stock, valued at $8,722,497.36. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 45,000 shares of company stock valued at $512,550. Corporate insiders own 11.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Wells Fargo & Company MN increased its position in ChannelAdvisor Corporation by 2.4% in the 2nd quarter. Wells Fargo & Company MN now owns 19,111 shares of the software maker’s stock valued at $220,000 after acquiring an additional 446 shares during the period. Schwab Charles Investment Management Inc. increased its position in ChannelAdvisor Corporation by 0.7% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 97,489 shares of the software maker’s stock valued at $1,126,000 after acquiring an additional 646 shares during the period. American International Group Inc. increased its position in ChannelAdvisor Corporation by 7.1% in the 1st quarter. American International Group Inc. now owns 14,290 shares of the software maker’s stock valued at $159,000 after acquiring an additional 946 shares during the period. Rhumbline Advisers increased its position in ChannelAdvisor Corporation by 8.5% in the 2nd quarter. Rhumbline Advisers now owns 27,908 shares of the software maker’s stock valued at $322,000 after acquiring an additional 2,195 shares during the period. Finally, The Manufacturers Life Insurance Company increased its position in ChannelAdvisor Corporation by 15.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,982 shares of the software maker’s stock valued at $242,000 after acquiring an additional 2,794 shares during the period. Hedge funds and other institutional investors own 81.50% of the company’s stock.
ChannelAdvisor Corporation (NYSE:ECOM) remained flat at $11.55 on Monday. The stock had a trading volume of 11,551 shares. ChannelAdvisor Corporation has a one year low of $9.80 and a one year high of $15.85. The firm has a 50-day moving average of $11.62 and a 200-day moving average of $11.31. The company’s market cap is $305.28 million.
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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