Equities research analysts at Needham & Company LLC assumed coverage on shares of ChannelAdvisor Corp. (NYSE:ECOM) in a research note issued to investors on Friday. The brokerage set a “buy” rating and a $16.00 price target on the stock. Needham & Company LLC’s price target suggests a potential upside of 27.39% from the company’s current price.
Several other equities research analysts have also commented on the stock. Pacific Crest reissued a “hold” rating on shares of ChannelAdvisor Corp. in a report on Friday, August 5th. Zacks Investment Research raised shares of ChannelAdvisor Corp. from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a report on Thursday, August 11th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $15.50.
Shares of ChannelAdvisor Corp. (NYSE:ECOM) opened at 12.56 on Friday. The stock has a 50 day moving average of $12.58 and a 200 day moving average of $12.94. The company’s market cap is $322.74 million. ChannelAdvisor Corp. has a 12-month low of $8.71 and a 12-month high of $15.91.
ChannelAdvisor Corp. (NYSE:ECOM) last issued its quarterly earnings results on Thursday, August 4th. The company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.03. The company earned $27.10 million during the quarter, compared to analyst estimates of $26.99 million. ChannelAdvisor Corp. had a negative net margin of 15.63% and a negative return on equity of 19.19%. The firm’s revenue was up 12.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.10) EPS. Equities research analysts predict that ChannelAdvisor Corp. will post ($0.25) earnings per share for the current fiscal year.
In other ChannelAdvisor Corp. news, insider David J. Spitz bought 10,000 shares of the company’s stock in a transaction dated Wednesday, August 24th. The stock was acquired at an average price 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 of the company’s stock, valued at $5,699,774.57. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider M Scot Wingo sold 60,000 shares of the company’s stock in a transaction on Tuesday, August 23rd. The stock was sold at an average price of $12.19, for a total transaction of $731,400.00. Following the sale, the insider now directly owns 1,030,505 shares of the company’s stock, valued at approximately $12,561,855.95. The disclosure for this sale can be found here. Insiders own 11.60% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. State Street Corp raised its stake in ChannelAdvisor Corp. by 4.7% in the first quarter. State Street Corp now owns 318,422 shares of the company’s stock worth $3,582,000 after buying an additional 14,436 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of ChannelAdvisor Corp. by 1.1% in the first quarter. Geode Capital Management LLC now owns 151,321 shares of the company’s stock worth $1,702,000 after buying an additional 1,591 shares in the last quarter. A.R.T. Advisors LLC raised its stake in shares of ChannelAdvisor Corp. by 12.5% in the first quarter. A.R.T. Advisors LLC now owns 68,209 shares of the company’s stock worth $767,000 after buying an additional 7,600 shares in the last quarter. Royal Bank of Canada raised its stake in shares of ChannelAdvisor Corp. by 2.8% in the first quarter. Royal Bank of Canada now owns 12,054 shares of the company’s stock worth $136,000 after buying an additional 328 shares in the last quarter. Finally, Mizuho Securities USA Inc. purchased a new stake in shares of ChannelAdvisor Corp. during the second quarter worth about $145,000. 83.87% of the stock is owned by institutional investors and hedge funds.
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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