CommerceHub (CHUBA) Stock Rating Lowered by Zacks Investment Research
Zacks Investment Research cut shares of CommerceHub (NASDAQ:CHUBA) from a buy rating to a hold rating in a research report released on Friday.
According to Zacks, “CommerceHub, Inc. provides distributed commerce network which connecting supply, demand and delivery for retailers and brands. CommerceHub, Inc. is headquartered in Albany, United States. “
A number of other equities research analysts have also recently commented on CHUBA. Wedbush reiterated an outperform rating and set a $26.00 target price (up previously from $22.00) on shares of CommerceHub in a report on Monday, October 2nd. DA Davidson assumed coverage on CommerceHub in a report on Friday, September 22nd. They set a buy rating and a $27.00 target price on the stock. Dougherty & Co assumed coverage on CommerceHub in a report on Tuesday, October 31st. They set a buy rating and a $27.00 target price on the stock. Finally, First Analysis assumed coverage on CommerceHub in a report on Friday, August 25th. They set an overweight rating and a $25.00 target price on the stock. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $25.80.
CommerceHub (NASDAQ:CHUBA) opened at $22.06 on Friday. CommerceHub has a one year low of $13.74 and a one year high of $24.53. The firm has a market capitalization of $987.58 and a P/E ratio of 76.00.
Several institutional investors and hedge funds have recently modified their holdings of CHUBA. FMR LLC purchased a new position in CommerceHub in the second quarter valued at about $28,465,000. Vanguard Group Inc. purchased a new position in CommerceHub in the second quarter valued at about $18,087,000. Pembroke Management LTD raised its position in CommerceHub by 2.6% in the third quarter. Pembroke Management LTD now owns 911,782 shares of the technology company’s stock valued at $20,579,000 after purchasing an additional 23,100 shares during the period. Neuberger Berman Group LLC purchased a new position in CommerceHub in the third quarter valued at about $11,072,000. Finally, Employees Retirement System of Texas purchased a new position in CommerceHub in the second quarter valued at about $7,090,000. 28.98% of the stock is currently owned by institutional investors and hedge funds.
CommerceHub, Inc is a provider of cloud-based e-commerce fulfillment and marketing solutions that integrate supply, demand and delivery for retailers and consumer brands, manufacturers and distributors. The Company’s end-to-end solutions are provided through the CommerceHub software platform, a hub that streamlines integration and enables transactions among its retailer and supplier customers and their other trading partners, while also enabling them to access the online marketplaces, search engines, social and product advertising and other digital marketing channels where consumers browse and buy.
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