CommerceHub, Inc. (CHUBA) Releases Earnings Results, Misses Expectations By $0.03 EPS
CommerceHub, Inc. (NASDAQ:CHUBA) posted its earnings results on Wednesday. The technology company reported $0.05 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.08 by $0.03, Morningstar.com reports. CommerceHub had a return on equity of 53.74% and a net margin of 13.15%. The firm had revenue of $25.21 million for the quarter, compared to analyst estimates of $25.76 million.
CommerceHub (CHUBA) traded up 7.66% during midday trading on Thursday, hitting $19.40. The stock had a trading volume of 164,671 shares. CommerceHub has a 52 week low of $11.91 and a 52 week high of $19.70. The company has a 50-day moving average price of $17.60 and a 200-day moving average price of $16.35. The stock has a market cap of $263.72 million and a P/E ratio of 60.62.
Separately, Zacks Investment Research raised CommerceHub from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a report on Monday, July 3rd.
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Hedge funds and other institutional investors have recently bought and sold shares of the company. First Quadrant L P CA purchased a new position in CommerceHub during the second quarter valued at $154,000. Trexquant Investment LP purchased a new position in CommerceHub during the second quarter valued at $207,000. Rhumbline Advisers purchased a new position in CommerceHub during the second quarter valued at $294,000. Swift Run Capital Management LLC purchased a new position in CommerceHub during the second quarter valued at $379,000. Finally, Sei Investments Co. purchased a new position in CommerceHub during the second quarter valued at $808,000. Institutional investors own 80.75% of the company’s stock.
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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