Zacks Investment Research Upgrades Amber Road Inc. (AMBR) to “Buy”
Amber Road Inc. (NYSE:AMBR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday. The firm presently has a $11.00 target price on the stock. Zacks Investment Research’s price objective suggests a potential upside of 13.40% from the stock’s current price.
According to Zacks, “Amber Road, Inc. operates as a provider of on-demand Global Trade Management solutions. It offers import and export, global logistics, and trade agreement management solutions worldwide. The Company’s solutions include Enterprise-Class Software, Trade Content, Supply Chain Network, Flexible Technology and SaaS Delivery. It offers its solution to enterprises in various industries, including chemical/pharmaceutical, high technology/electronics, industrial/manufacturing, logistics, oil and gas, and retail/apparel through a software-as-a-service model. Amber Road, Inc. is headquartered in East Rutherford, New Jersey. “
A number of other research firms have also recently commented on AMBR. Pacific Crest reiterated a “hold” rating on shares of Amber Road in a research note on Friday, August 5th. Raymond James Financial Inc. raised their price objective on Amber Road from $10.50 to $13.00 and gave the stock an “outperform” rating in a research note on Monday, August 15th. Stifel Nicolaus raised their price objective on Amber Road from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Friday, August 5th. Finally, FBR & Co raised their price objective on Amber Road from $10.00 to $12.00 and gave the stock an “outperform” rating in a research note on Friday, August 5th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $10.83.
Amber Road (NYSE:AMBR) opened at 9.70 on Wednesday. Amber Road has a 12-month low of $3.52 and a 12-month high of $11.29. The stock’s market capitalization is $260.09 million. The company has a 50-day moving average price of $9.62 and a 200-day moving average price of $8.36.
Amber Road (NYSE:AMBR) last released its quarterly earnings results on Thursday, November 3rd. The company reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.04. Amber Road had a negative return on equity of 48.60% and a negative net margin of 29.32%. The company earned $18.90 million during the quarter, compared to analysts’ expectations of $18.92 million. During the same period last year, the business posted ($0.16) earnings per share. The firm’s revenue was up 9.2% compared to the same quarter last year. Analysts expect that Amber Road will post ($0.47) earnings per share for the current fiscal year.
In related news, Director Donald R. Caldwell sold 1,450,000 shares of the firm’s stock in a transaction dated Wednesday, September 14th. The stock was sold at an average price of $9.00, for a total transaction of $13,050,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Albert C. Cooke III sold 20,080 shares of the firm’s stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $10.50, for a total value of $210,840.00. Following the sale, the vice president now directly owns 31,914 shares in the company, valued at $335,097. The disclosure for this sale can be found here. Corporate insiders own 32.30% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the company. Allianz Asset Management AG bought a new stake in Amber Road during the second quarter valued at approximately $3,535,000. G2 Investment Partners Management LLC raised its stake in Amber Road by 30.8% in the second quarter. G2 Investment Partners Management LLC now owns 1,391,430 shares of the company’s stock valued at $10,728,000 after buying an additional 327,600 shares during the period. Tiverton Asset Management LLC raised its stake in Amber Road by 554.5% in the third quarter. Tiverton Asset Management LLC now owns 287,098 shares of the company’s stock valued at $2,770,000 after buying an additional 243,235 shares during the period. Spark Investment Management LLC bought a new stake in Amber Road during the second quarter valued at approximately $928,000. Finally, Citadel Advisors LLC bought a new stake in Amber Road during the third quarter valued at approximately $1,120,000. 57.51% of the stock is currently owned by hedge funds and other institutional investors.
About Amber Road
Amber Road, Inc is a provider of cloud-based global trade management (GTM) solutions. The Company’s GTM solutions include modules for logistics contract and rate management, supply chain visibility and event management, international trade compliance, and Global Knowledge trade content database to importers and exporters, non-vessel owning common carriers (resellers), and ocean carriers.
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