ChannelAdvisor Corporation (ECOM) Receives $14.50 Consensus Target Price from Brokerages
ChannelAdvisor Corporation (NYSE:ECOM) has been given an average recommendation of “Hold” by the ten ratings firms that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $14.50.
Several equities analysts have recently issued reports on ECOM shares. BidaskClub lowered shares of ChannelAdvisor Corporation from a “sell” rating to a “strong sell” rating in a report on Saturday, August 26th. First Analysis upgraded shares of ChannelAdvisor Corporation from an “equal weight” rating to an “overweight” rating and set a $13.00 target price for the company in a report on Thursday, August 31st. Needham & Company LLC reiterated a “buy” rating and set a $18.00 target price on shares of ChannelAdvisor Corporation in a report on Sunday, September 17th. KeyCorp reiterated a “hold” rating on shares of ChannelAdvisor Corporation in a report on Friday, August 25th. Finally, DA Davidson started coverage on shares of ChannelAdvisor Corporation in a report on Friday, September 22nd. They set a “neutral” rating and a $12.50 target price for the company.
Shares of ChannelAdvisor Corporation (ECOM) traded up 0.41% during mid-day trading on Friday, reaching $12.10. The company’s stock had a trading volume of 40,884 shares. ChannelAdvisor Corporation has a 12 month low of $9.80 and a 12 month high of $15.85. The company has a 50-day moving average of $11.01 and a 200-day moving average of $11.22. The company’s market cap is $319.82 million.
ChannelAdvisor Corporation (NYSE:ECOM) last released its earnings results on Thursday, August 3rd. The software maker reported ($0.15) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.10) by ($0.05). ChannelAdvisor Corporation had a negative net margin of 7.42% and a negative return on equity of 7.63%. The business had revenue of $30.00 million for the quarter, compared to analysts’ expectations of $28.65 million. During the same quarter in the previous year, the business posted ($0.11) earnings per share. ChannelAdvisor Corporation’s revenue for the quarter was up 10.7% on a year-over-year basis. Equities research analysts forecast that ChannelAdvisor Corporation will post ($0.03) earnings per share for the current fiscal year.
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In related news, insider M Scot Wingo sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $11.72, for a total value of $175,800.00. Following the completion of the transaction, the insider now directly owns 807,896 shares in the company, valued at approximately $9,468,541.12. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Marc Huffman acquired 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The stock was purchased at an average price of $10.00 per share, with a total value of $100,000.00. Following the completion of the acquisition, the director now owns 36,411 shares in the company, valued at $364,110. The disclosure for this purchase can be found here. Insiders have sold 45,000 shares of company stock valued at $498,300 over the last quarter. Company insiders own 11.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Shapiro Capital Management LLC raised its holdings in ChannelAdvisor Corporation by 0.6% in the 2nd quarter. Shapiro Capital Management LLC now owns 3,779,475 shares of the software maker’s stock worth $43,653,000 after acquiring an additional 22,458 shares during the last quarter. Janus Henderson Group PLC purchased a new position in ChannelAdvisor Corporation in the 2nd quarter worth approximately $26,368,000. Vanguard Group Inc. raised its holdings in ChannelAdvisor Corporation by 5.8% in the 2nd quarter. Vanguard Group Inc. now owns 1,055,788 shares of the software maker’s stock worth $12,194,000 after acquiring an additional 57,863 shares during the last quarter. Disciplined Growth Investors Inc. MN raised its holdings in ChannelAdvisor Corporation by 214.7% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 639,982 shares of the software maker’s stock worth $7,392,000 after acquiring an additional 436,618 shares during the last quarter. Finally, Archon Capital Management LLC raised its holdings in ChannelAdvisor Corporation by 42.5% in the 2nd quarter. Archon Capital Management LLC now owns 588,510 shares of the software maker’s stock worth $6,797,000 after acquiring an additional 175,467 shares during the last quarter. Institutional investors own 81.50% of the company’s stock.
About ChannelAdvisor Corporation
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.
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