ChannelAdvisor (ECOM) Given New $12.00 Price Target at Needham & Company LLC

ChannelAdvisor (NYSE:ECOM) had its target price cut by research analysts at Needham & Company LLC from $18.00 to $12.00 in a note issued to investors on Wednesday. The firm currently has a “buy” rating on the software maker’s stock. Needham & Company LLC’s price objective points to a potential upside of 28.34% from the company’s previous close.

Other equities analysts have also recently issued research reports about the company. Stifel Nicolaus dropped their target price on ChannelAdvisor from $13.00 to $12.00 and set a “buy” rating on the stock in a research report on Wednesday. DA Davidson upgraded ChannelAdvisor from a “neutral” rating to a “buy” rating and set a $12.50 target price on the stock in a research report on Tuesday, February 6th. Dougherty & Co started coverage on ChannelAdvisor in a research report on Tuesday, December 19th. They set a “neutral” rating on the stock. Zacks Investment Research cut ChannelAdvisor from a “hold” rating to a “sell” rating in a research report on Wednesday, January 3rd. Finally, BidaskClub cut ChannelAdvisor from a “hold” rating to a “sell” rating in a research report on Wednesday, October 25th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $12.38.

Shares of ChannelAdvisor (ECOM) opened at $9.35 on Wednesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.94 and a current ratio of 1.94. The company has a market capitalization of $249.76, a P/E ratio of -23.37 and a beta of 0.10. ChannelAdvisor has a one year low of $8.30 and a one year high of $12.65.

ChannelAdvisor (NYSE:ECOM) last posted its quarterly earnings data on Tuesday, February 13th. The software maker reported $0.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.13. ChannelAdvisor had a negative return on equity of 9.48% and a negative net margin of 8.54%. equities research analysts predict that ChannelAdvisor will post -0.58 earnings per share for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Needham Investment Management LLC grew its holdings in shares of ChannelAdvisor by 71.3% in the 4th quarter. Needham Investment Management LLC now owns 84,117 shares of the software maker’s stock worth $757,000 after acquiring an additional 35,000 shares during the period. Cortina Asset Management LLC grew its holdings in shares of ChannelAdvisor by 22.8% in the 4th quarter. Cortina Asset Management LLC now owns 617,251 shares of the software maker’s stock worth $5,555,000 after acquiring an additional 114,435 shares during the period. Archon Capital Management LLC grew its holdings in shares of ChannelAdvisor by 26.8% in the 4th quarter. Archon Capital Management LLC now owns 1,065,346 shares of the software maker’s stock worth $9,588,000 after acquiring an additional 225,472 shares during the period. Tower Research Capital LLC TRC grew its holdings in shares of ChannelAdvisor by 300.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 11,636 shares of the software maker’s stock worth $105,000 after acquiring an additional 8,729 shares during the period. Finally, BlackRock Inc. grew its holdings in shares of ChannelAdvisor by 0.9% in the 4th quarter. BlackRock Inc. now owns 1,561,140 shares of the software maker’s stock worth $14,050,000 after acquiring an additional 14,112 shares during the period. Institutional investors and hedge funds own 71.36% of the company’s stock.

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ChannelAdvisor 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.

Analyst Recommendations for ChannelAdvisor (NYSE:ECOM)

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