Zacks Investment Research upgraded shares of ChannelAdvisor (NYSE:ECOM) from a hold rating to a buy rating in a research report report published on Wednesday, Zacks.com reports. They currently have $11.00 price target on the software maker’s stock.
According to Zacks, “Channel Advisor Corporation offers cloud-based e-commerce solutions and services. It solutions include marketplaces, comparison shopping, paid search, social campaigns, flex feeds, web stores and rich media. The company serves traditional retailers, online retailers, brand manufacturers and advertising agencies. Channel Advisor Corporation is headquartered in Morrisville, North Carolina. “
Separately, First Analysis reissued a buy rating and issued a $11.00 price objective on shares of ChannelAdvisor in a report on Sunday, January 5th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of Buy and a consensus price target of $11.50.
ChannelAdvisor stock traded up $0.06 during trading hours on Wednesday, hitting $10.09. 2,121 shares of the stock traded hands, compared to its average volume of 76,405. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.02 and a quick ratio of 2.02. The firm’s 50 day moving average price is $9.23 and its 200-day moving average price is $9.19. The stock has a market capitalization of $273.85 million, a price-to-earnings ratio of -38.62 and a beta of 0.37. ChannelAdvisor has a 1 year low of $8.01 and a 1 year high of $13.83.
ChannelAdvisor (NYSE:ECOM) last posted its quarterly earnings results on Thursday, November 7th. The software maker reported $0.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.04. The business had revenue of $31.68 million for the quarter, compared to the consensus estimate of $31.73 million. ChannelAdvisor had a positive return on equity of 0.25% and a negative net margin of 1.02%. Research analysts forecast that ChannelAdvisor will post 0.08 earnings per share for the current fiscal year.
In other ChannelAdvisor news, Director M Scot Wingo sold 20,000 shares of the firm’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $9.06, for a total value of $181,200.00. Following the sale, the director now directly owns 537,115 shares in the company, valued at approximately $4,866,261.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 35,274 shares of company stock worth $318,819 in the last 90 days. 8.10% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of ECOM. Altai Capital Management L.P. grew its position in shares of ChannelAdvisor by 28.5% during the 3rd quarter. Altai Capital Management L.P. now owns 3,464,638 shares of the software maker’s stock worth $32,325,000 after buying an additional 768,145 shares during the period. BlackRock Inc. boosted its holdings in ChannelAdvisor by 8.5% during the 2nd quarter. BlackRock Inc. now owns 1,844,294 shares of the software maker’s stock valued at $16,156,000 after acquiring an additional 145,212 shares during the period. Vanguard Group Inc. boosted its holdings in ChannelAdvisor by 8.9% during the 2nd quarter. Vanguard Group Inc. now owns 1,404,036 shares of the software maker’s stock valued at $12,300,000 after acquiring an additional 115,238 shares during the period. Disciplined Growth Investors Inc. MN boosted its holdings in ChannelAdvisor by 0.8% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 706,710 shares of the software maker’s stock valued at $6,594,000 after acquiring an additional 5,365 shares during the period. Finally, State Street Corp boosted its holdings in ChannelAdvisor by 0.5% during the 3rd quarter. State Street Corp now owns 474,649 shares of the software maker’s stock valued at $4,428,000 after acquiring an additional 2,257 shares during the period. Institutional investors own 82.31% 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.
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