ChannelAdvisor Corporation (ECOM) Issues Earnings Results
ChannelAdvisor Corporation (NYSE:ECOM) announced its earnings results on Thursday. The software maker reported ($0.15) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.17) by $0.02, Bloomberg Earnings reports. ChannelAdvisor Corporation had a negative net margin of 7.42% and a negative return on equity of 7.63%. The business had revenue of $30.10 million during the quarter, compared to analysts’ expectations of $30.08 million. During the same period in the prior year, the company earned ($0.12) earnings per share. The firm’s revenue was up 7.5% on a year-over-year basis.
Shares of ChannelAdvisor Corporation (ECOM) traded down $1.95 during midday trading on Friday, hitting $8.95. 281,907 shares of the stock were exchanged, compared to its average volume of 61,745. ChannelAdvisor Corporation has a 1 year low of $8.60 and a 1 year high of $15.85. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.97.
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In related news, Director Marc Huffman purchased 10,000 shares of the firm’s stock in a transaction dated Thursday, August 10th. The stock was bought at an average price of $10.00 per share, for a total transaction of $100,000.00. Following the purchase, 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 is accessible through this link. Also, insider M Scot Wingo sold 15,000 shares of the company’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $11.72, for a total value of $175,800.00. Following the sale, the insider now owns 807,896 shares of the company’s stock, valued at approximately $9,468,541.12. The disclosure for this sale can be found here. In the last quarter, insiders have sold 45,000 shares of company stock valued at $512,550. 11.30% of the stock is currently owned by corporate insiders.
A number of analysts have recently issued reports on the stock. BidaskClub raised shares of ChannelAdvisor Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, September 21st. DA Davidson assumed coverage on shares of ChannelAdvisor Corporation in a research note on Friday, September 22nd. They issued a “neutral” rating and a $12.50 price objective for the company. Finally, Needham & Company LLC reissued a “buy” rating and issued a $18.00 price objective on shares of ChannelAdvisor Corporation in a research note on Sunday, September 17th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. ChannelAdvisor Corporation currently has a consensus rating of “Hold” and a consensus target price of $14.13.
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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