CommerceHub (CHUBA) Downgraded to Hold at Zacks Investment Research
CommerceHub (NASDAQ:CHUBA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.
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. “
Several other brokerages have also recently commented on CHUBA. Wedbush reissued an “outperform” rating and set a $26.00 price target (up from $22.00) on shares of CommerceHub in a research report on Monday, October 2nd. DA Davidson assumed coverage on shares of CommerceHub in a research report on Friday, September 22nd. They set a “buy” rating and a $27.00 price target on the stock. Dougherty & Co assumed coverage on shares of CommerceHub in a research report on Tuesday, October 31st. They set a “buy” rating and a $27.00 price target on the stock. Finally, First Analysis assumed coverage on shares of CommerceHub in a research report on Friday, August 25th. They set an “overweight” rating and a $25.00 price target on the stock. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $25.80.
Several institutional investors have recently added to or reduced their stakes in CHUBA. Russell Investments Group Ltd. acquired a new position in shares of CommerceHub during the 2nd quarter worth about $949,000. NGAM Advisors L.P. acquired a new position in CommerceHub in the 2nd quarter valued at about $1,558,000. Spark Investment Management LLC acquired a new position in CommerceHub in the 2nd quarter valued at about $1,804,000. S&CO Inc. acquired a new position in CommerceHub in the 2nd quarter valued at about $2,104,000. Finally, Sei Investments Co. acquired a new position in CommerceHub in the 2nd quarter valued at about $808,000. Institutional investors own 29.02% of the company’s stock.
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CommerceHub Company Profile
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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