ChannelAdvisor Corporation (ECOM) Downgraded by BidaskClub to “Strong Sell”
BidaskClub lowered shares of ChannelAdvisor Corporation (NYSE:ECOM) from a sell rating to a strong sell rating in a research report released on Saturday.
A number of other research analysts have also recently issued reports on the stock. KeyCorp restated a hold rating on shares of ChannelAdvisor Corporation in a report on Friday. Robert W. Baird restated a neutral rating on shares of ChannelAdvisor Corporation in a report on Monday, July 3rd. Zacks Investment Research cut shares of ChannelAdvisor Corporation from a buy rating to a hold rating in a report on Wednesday, June 14th. TheStreet cut shares of ChannelAdvisor Corporation from a c- rating to a d+ rating in a report on Monday, June 5th. Finally, ValuEngine cut shares of ChannelAdvisor Corporation from a hold rating to a sell rating in a report on Friday, June 2nd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $15.50.
Shares of ChannelAdvisor Corporation (NYSE:ECOM) traded down 0.51% during midday trading on Friday, reaching $9.85. The company’s stock had a trading volume of 74,897 shares. The company’s market capitalization is $260.35 million. The stock has a 50 day moving average of $10.55 and a 200-day moving average of $11.17. ChannelAdvisor Corporation has a 1-year low of $9.80 and a 1-year high of $15.85.
ChannelAdvisor Corporation (NYSE:ECOM) last issued its quarterly earnings data on Thursday, August 3rd. The software maker reported ($0.15) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.10) by $0.05. The firm had revenue of $30 million for the quarter, compared to analyst estimates of $28.65 million. ChannelAdvisor Corporation had a negative net margin of 7.42% and a negative return on equity of 7.63%. The firm’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.11) EPS. On average, equities research analysts anticipate that ChannelAdvisor Corporation will post ($0.02) earnings per share for the current year.
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In other news, insider M Scot Wingo sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $11.09, for a total value of $166,350.00. Following the completion of the transaction, the insider now owns 852,896 shares in the company, valued at $9,458,616.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Marc Huffman purchased 10,000 shares of ChannelAdvisor Corporation stock in a transaction dated Thursday, August 10th. The stock was bought at an average price of $10.00 per share, with a total value of $100,000.00. Following the acquisition, the director now directly owns 36,411 shares of the company’s stock, valued at $364,110. The disclosure for this purchase can be found here. 11.30% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Disciplined Growth Investors Inc. MN boosted its position in ChannelAdvisor Corporation by 214.7% in the second quarter. Disciplined Growth Investors Inc. MN now owns 639,982 shares of the software maker’s stock valued at $7,392,000 after buying an additional 436,618 shares during the period. The Manufacturers Life Insurance Company boosted its position in ChannelAdvisor Corporation by 15.4% in the second quarter. The Manufacturers Life Insurance Company now owns 20,982 shares of the software maker’s stock valued at $242,000 after buying an additional 2,794 shares during the period. Cubist Systematic Strategies LLC bought a new position in ChannelAdvisor Corporation during the second quarter valued at $138,000. State Street Corp boosted its position in ChannelAdvisor Corporation by 8.4% in the second quarter. State Street Corp now owns 411,406 shares of the software maker’s stock valued at $4,750,000 after buying an additional 31,727 shares during the period. Finally, Janus Henderson Group PLC bought a new position in ChannelAdvisor Corporation during the second quarter valued at $26,368,000. Institutional investors own 80.12% of the company’s stock.
ChannelAdvisor Corporation Company Profile
Channeladvisor Corporation is a provider of Software as a service (SaaS) solutions. The Company’s SaaS solutions enable retailer and branded manufacturer customers to integrate, manage and optimize their merchandise sales via hundreds of online channels. The Company’s platform enable its customers to connect with new and existing sources of demand for their products, including e-commerce marketplaces, such as Amazon, eBay, Jet.com, Newegg, Sears and Walmart, search engines and comparison shopping Websites, such as Google, Microsoft’s Bing and Nextag, and social channels, such as Facebook, Instagram and Pinterest.
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