ChannelAdvisor Corp. (NYSE:ECOM) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday.
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. “
Other equities research analysts also recently issued research reports about the stock. Needham & Company LLC started coverage on shares of ChannelAdvisor Corp. in a research report on Friday, September 23rd. They issued a “buy” rating and a $16.00 price objective for the company. Pacific Crest restated a “hold” rating on shares of ChannelAdvisor Corp. in a research report on Friday, August 5th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $15.50.
ChannelAdvisor Corp. (NYSE:ECOM) traded down 1.17% during midday trading on Wednesday, hitting $12.68. The stock had a trading volume of 67,385 shares. The firm’s market cap is $325.83 million. ChannelAdvisor Corp. has a 12-month low of $8.71 and a 12-month high of $15.91. The stock has a 50-day moving average price of $12.38 and a 200 day moving average price of $13.04.
ChannelAdvisor Corp. (NYSE:ECOM) last announced its quarterly earnings data on Thursday, August 4th. The company reported ($0.11) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.14) by $0.03. The firm earned $27.10 million during the quarter, compared to the consensus estimate 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 last year, the firm earned ($0.10) earnings per share. On average, equities analysts anticipate 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 firm’s stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $12.19, for a total transaction of $731,400.00. Following the completion of the transaction, 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 filing with the SEC, which is available at the SEC website. Also, CFO Mark Cook acquired 10,000 shares of the company’s stock in a transaction dated Tuesday, August 23rd. The shares were acquired at an average cost of $12.26 per share, with a total value of $122,600.00. Following the completion of the purchase, the chief financial officer now owns 100,529 shares in the company, valued at $1,232,485.54. The disclosure for this purchase can be found here. Insiders own 11.60% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Schwab Charles Investment Management Inc. boosted its position in shares of ChannelAdvisor Corp. by 16.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 68,685 shares of the company’s stock worth $996,000 after buying an additional 9,666 shares during the period. AQR Capital Management LLC acquired a new position in shares of ChannelAdvisor Corp. during the second quarter worth $282,000. Parametric Portfolio Associates LLC boosted its position in shares of ChannelAdvisor Corp. by 14.2% in the second quarter. Parametric Portfolio Associates LLC now owns 93,108 shares of the company’s stock worth $1,349,000 after buying an additional 11,583 shares during the period. Citadel Advisors LLC boosted its position in shares of ChannelAdvisor Corp. by 64.1% in the second quarter. Citadel Advisors LLC now owns 41,886 shares of the company’s stock worth $607,000 after buying an additional 16,359 shares during the period. Finally, Janus Capital Management LLC boosted its position in shares of ChannelAdvisor Corp. by 1.5% in the second quarter. Janus Capital Management LLC now owns 2,231,740 shares of the company’s stock worth $32,338,000 after buying an additional 33,569 shares during the period. 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for ChannelAdvisor Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ChannelAdvisor Corp. and related companies with MarketBeat.com's FREE daily email newsletter.