ChannelAdvisor Corp. (ECOM) Upgraded at Zacks Investment Research
Zacks Investment Research upgraded shares of ChannelAdvisor Corp. (NYSE:ECOM) from a hold rating to a buy rating in a research report released on Friday morning. Zacks Investment Research currently has $14.00 price target on the 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, Pacific Crest reissued a hold rating on shares of ChannelAdvisor Corp. in a report on Friday, August 5th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $15.33.
ChannelAdvisor Corp. (NYSE:ECOM) opened at 12.31 on Friday. The stock’s 50 day moving average is $12.66 and its 200 day moving average is $12.94. The company’s market cap is $316.32 million. ChannelAdvisor Corp. has a 52-week low of $8.71 and a 52-week high of $15.91.
ChannelAdvisor Corp. (NYSE:ECOM) last issued its quarterly earnings data on Thursday, August 4th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.14) by $0.03. The company earned $27.10 million during the quarter, compared to analysts’ expectations of $26.99 million. ChannelAdvisor Corp. had a negative return on equity of 19.19% and a negative net margin of 15.63%. The business’s revenue was up 12.0% on a year-over-year basis. During the same period last year, the business earned ($0.10) earnings per share. Equities research analysts forecast that ChannelAdvisor Corp. will post ($0.25) earnings per share for the current year.
In other ChannelAdvisor Corp. news, insider M Scot Wingo sold 60,000 shares of the business’s stock in a transaction dated Tuesday, August 23rd. The stock was sold at an average price of $12.19, for a total transaction of $731,400.00. Following the completion of the sale, the insider now directly owns 1,030,505 shares of the company’s stock, valued at approximately $12,561,855.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David J. Spitz acquired 10,000 shares of the company’s stock in a transaction on Wednesday, August 24th. The shares were purchased at an average cost of $12.77 per share, with a total value of $127,700.00. Following the completion of the acquisition, the insider now directly owns 446,341 shares in the company, valued at approximately $5,699,774.57. The disclosure for this purchase can be found here. 11.60% of the stock is owned by corporate insiders.
Hedge funds have recently made changes to their positions in the company. State Board of Administration of Florida Retirement System boosted its stake in shares of ChannelAdvisor Corp. by 0.9% in the second quarter. State Board of Administration of Florida Retirement System now owns 18,984 shares of the company’s stock valued at $275,000 after buying an additional 164 shares in the last quarter. Rothschild Asset Management Inc. purchased a new stake in shares of ChannelAdvisor Corp. during the second quarter valued at $231,000. Swiss National Bank boosted its stake in shares of ChannelAdvisor Corp. by 7.3% in the second quarter. Swiss National Bank now owns 39,800 shares of the company’s stock valued at $577,000 after buying an additional 2,700 shares in the last quarter. Riverbridge Partners LLC boosted its stake in shares of ChannelAdvisor Corp. by 15.1% in the second quarter. Riverbridge Partners LLC now owns 1,869,355 shares of the company’s stock valued at $27,087,000 after buying an additional 245,387 shares in the last quarter. Finally, California State Teachers Retirement System boosted its stake in shares of ChannelAdvisor Corp. by 5.9% in the second quarter. California State Teachers Retirement System now owns 48,664 shares of the company’s stock valued at $705,000 after buying an additional 2,720 shares in the last quarter. 83.87% of the stock is owned by hedge funds and other institutional investors.
ChannelAdvisor Corp. Company Profile
ChannelAdvisor Corporation is a provider of software as a service (SaaS) solutions. The Company’s SaaS solutions enable its retailer and manufacturer customers to integrate and manage their merchandise sales across various online channels. Through its platform, the Company enables its customers to connect with various sources of demand for their products, including e-commerce marketplaces, such as Amazon, eBay, Jet.com, Newegg and Sears, search engines and comparison shopping Websites, such as Google, Microsoft’s Bing and Nextag, and other channels, such as Facebook and Pinterest.
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