Zacks Investment Research Lowers ChannelAdvisor Corp. (ECOM) to Hold
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 reaffirmed a hold rating on shares of ChannelAdvisor Corp. in a research report on Friday, August 5th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of $15.33.
ChannelAdvisor Corp. (NYSE:ECOM) opened at 12.28 on Thursday. ChannelAdvisor Corp. has a 52 week low of $8.71 and a 52 week high of $15.91. The company’s market cap is $315.55 million. The stock’s 50 day moving average price is $12.75 and its 200-day moving average price is $12.95.
ChannelAdvisor Corp. (NYSE:ECOM) last issued its earnings results on Thursday, August 4th. The company reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.03. ChannelAdvisor Corp. had a negative return on equity of 19.19% and a negative net margin of 15.63%. The business earned $27.10 million during the quarter, compared to analyst estimates of $26.99 million. During the same period in the previous year, the company posted ($0.10) EPS. The firm’s revenue was up 12.0% compared to the same quarter last year. On average, equities research analysts forecast that ChannelAdvisor Corp. will post ($0.25) earnings per share for the current fiscal year.
In other news, insider M Scot Wingo sold 60,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $12.19, for a total value of $731,400.00. Following the transaction, the insider now owns 1,030,505 shares in the company, valued at approximately $12,561,855.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider David J. Spitz bought 10,000 shares of the business’s stock in a transaction dated Wednesday, August 24th. The stock was acquired at an average price of $12.77 per share, for a total transaction of $127,700.00. Following the purchase, the insider now directly owns 446,341 shares in the company, valued at $5,699,774.57. The disclosure for this purchase can be found here. Company insiders own 11.60% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. State Board of Administration of Florida Retirement System increased its position 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 worth $275,000 after buying an additional 164 shares during the last quarter. Rothschild Asset Management Inc. bought a new stake in ChannelAdvisor Corp. during the second quarter worth approximately $231,000. Swiss National Bank boosted its stake in ChannelAdvisor Corp. by 7.3% in the second quarter. Swiss National Bank now owns 39,800 shares of the company’s stock worth $577,000 after buying an additional 2,700 shares during the period. Riverbridge Partners LLC boosted its stake in ChannelAdvisor Corp. by 15.1% in the second quarter. Riverbridge Partners LLC now owns 1,869,355 shares of the company’s stock worth $27,087,000 after buying an additional 245,387 shares during the period. Finally, California State Teachers Retirement System boosted its stake in ChannelAdvisor Corp. by 5.9% in the second quarter. California State Teachers Retirement System now owns 48,664 shares of the company’s stock worth $705,000 after buying an additional 2,720 shares during the period. Hedge funds and other institutional investors own 83.87% of the company’s stock.
About ChannelAdvisor Corp.
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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