ChannelAdvisor Corp. (NYSE:ECOM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday. The brokerage currently has a $14.00 price objective on the stock. Zacks Investment Research’s price objective would suggest a potential upside of 16.57% from the company’s current price.
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 restated a “hold” rating on shares of ChannelAdvisor Corp. in a research report on Friday, August 5th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. ChannelAdvisor Corp. presently has an average rating of “Hold” and a consensus target price of $15.33.
ChannelAdvisor Corp. (NYSE:ECOM) opened at 12.01 on Friday. The company’s market cap is $308.61 million. ChannelAdvisor Corp. has a 52-week low of $8.71 and a 52-week high of $15.91. The company has a 50-day moving average of $12.84 and a 200-day moving average of $12.94.
ChannelAdvisor Corp. (NYSE:ECOM) last issued its quarterly earnings results on Thursday, August 4th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.14) by $0.03. The firm had revenue of $27.10 million for 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 company’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.10) EPS. On average, equities research analysts expect that ChannelAdvisor Corp. will post ($0.25) earnings per share for the current fiscal year.
In related news, insider M Scot Wingo sold 60,000 shares of the business’s stock in a transaction 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 transaction, the insider now owns 1,030,505 shares in the company, valued at approximately $12,561,855.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider David J. Spitz bought 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 24th. The shares were bought at an average price of $12.77 per share, for a total transaction of $127,700.00. Following the transaction, 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. Corporate insiders own 11.60% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Group LTD increased its position in ChannelAdvisor Corp. by 78.5% in the second quarter. BlackRock Group LTD now owns 9,805 shares of the company’s stock worth $142,000 after buying an additional 4,311 shares during the last quarter. Mizuho Securities USA Inc. bought a new position in ChannelAdvisor Corp. during the second quarter worth about $145,000. BlackRock Advisors LLC increased its position in ChannelAdvisor Corp. by 9.1% in the second quarter. BlackRock Advisors LLC now owns 10,884 shares of the company’s stock worth $158,000 after buying an additional 910 shares during the last quarter. Royal Bank of Canada increased its position in 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 during the last quarter. Finally, American International Group Inc. increased its position in ChannelAdvisor Corp. by 5.2% in the second quarter. American International Group Inc. now owns 13,359 shares of the company’s stock worth $194,000 after buying an additional 663 shares during the last quarter. Institutional investors own 83.87% of the company’s stock.
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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