Wall Street brokerages expect ChannelAdvisor Corp (NYSE:ECOM) to announce $34.48 million in sales for the current quarter, according to Zacks. Three analysts have made estimates for ChannelAdvisor’s earnings, with the lowest sales estimate coming in at $34.32 million and the highest estimate coming in at $34.73 million. ChannelAdvisor reported sales of $34.79 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 0.9%. The firm is expected to issue its next earnings report on Wednesday, February 12th.
On average, analysts expect that ChannelAdvisor will report full-year sales of $129.68 million for the current financial year, with estimates ranging from $129.51 million to $129.92 million. For the next financial year, analysts forecast that the company will post sales of $136.45 million, with estimates ranging from $133.34 million to $141.50 million. Zacks’ sales averages are an average based on a survey of research firms that cover ChannelAdvisor.
Several brokerages have commented on ECOM. ValuEngine upgraded ChannelAdvisor from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. B. Riley set a $12.00 price target on ChannelAdvisor and gave the company a “buy” rating in a research report on Friday, September 13th. Finally, Zacks Investment Research upgraded ChannelAdvisor from a “hold” rating to a “buy” rating and set a $10.00 price target for the company in a research report on Friday, November 8th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $11.01.
NYSE ECOM traded up $0.03 during trading hours on Monday, hitting $9.00. The company had a trading volume of 66,098 shares, compared to its average volume of 97,007. ChannelAdvisor has a 52 week low of $8.01 and a 52 week high of $13.83. The firm has a 50 day simple moving average of $9.20 and a 200 day simple moving average of $9.32. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.02 and a current ratio of 2.02. The firm has a market capitalization of $252.25 million, a price-to-earnings ratio of -34.62 and a beta of 0.41.
In other news, Chairman M Scot Wingo sold 10,000 shares of ChannelAdvisor stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $9.01, for a total transaction of $90,100.00. Following the completion of the sale, the chairman now owns 577,115 shares in the company, valued at approximately $5,199,806.15. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 8.10% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Bank of Montreal Can boosted its position in shares of ChannelAdvisor by 236.2% during the 2nd quarter. Bank of Montreal Can now owns 3,180 shares of the software maker’s stock valued at $28,000 after acquiring an additional 2,234 shares during the last quarter. Meeder Asset Management Inc. raised its holdings in shares of ChannelAdvisor by 316.6% during the 3rd quarter. Meeder Asset Management Inc. now owns 4,712 shares of the software maker’s stock valued at $43,000 after buying an additional 3,581 shares in the last quarter. State of Tennessee Treasury Department purchased a new position in shares of ChannelAdvisor during the 3rd quarter valued at about $115,000. Prudential Financial Inc. purchased a new position in shares of ChannelAdvisor during the 2nd quarter valued at about $113,000. Finally, Mackay Shields LLC purchased a new position in shares of ChannelAdvisor during the 3rd quarter valued at about $137,000. Hedge funds and other institutional investors own 81.70% of the company’s stock.
ChannelAdvisor Corporation provides software-as-a-service solutions in the United States and internationally. Its e-commerce cloud platform helps brands and retailers to improve their online performance by expanding sales channels, connecting with consumers around the world, optimizing their operations for peak performance, and providing actionable analytics to improve competitiveness.
Featured Story: Trading based on a resistance level
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for ChannelAdvisor Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ChannelAdvisor and related companies with MarketBeat.com's FREE daily email newsletter.