First Analysis Upgrades ChannelAdvisor Corporation (ECOM) to Overweight
First Analysis upgraded shares of ChannelAdvisor Corporation (NYSE:ECOM) from an equal weight rating to an overweight rating in a research note released on Thursday morning, MarketBeat reports. They currently have $13.00 target price on the software maker’s stock.
A number of other equities research analysts also recently weighed in on the company. BidaskClub downgraded ChannelAdvisor Corporation from a sell rating to a strong sell rating in a report on Saturday, August 26th. KeyCorp reissued a hold rating on shares of ChannelAdvisor Corporation in a report on Friday, August 25th. Robert W. Baird reissued a neutral rating on shares of ChannelAdvisor Corporation in a report on Monday, July 3rd. Zacks Investment Research downgraded ChannelAdvisor Corporation from a buy rating to a hold rating in a report on Wednesday, June 14th. Finally, TheStreet downgraded ChannelAdvisor Corporation from a c- rating to a d+ rating in a report on Monday, June 5th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $14.67.
Shares of ChannelAdvisor Corporation (NYSE ECOM) opened at 11.55 on Thursday. The firm has a 50-day moving average of $10.47 and a 200 day moving average of $11.11. The company’s market cap is $305.28 million. ChannelAdvisor Corporation has a one year low of $9.80 and a one year high of $15.85.
ChannelAdvisor Corporation (NYSE:ECOM) last posted its earnings results on Thursday, August 3rd. The software maker reported ($0.15) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.10) by $0.05. ChannelAdvisor Corporation had a negative return on equity of 7.63% and a negative net margin of 7.42%. The firm had revenue of $30 million for the quarter, compared to analyst estimates of $28.65 million. During the same period in the prior year, the business posted ($0.11) EPS. The firm’s quarterly revenue was up 10.7% compared to the same quarter last year. Equities research analysts anticipate that ChannelAdvisor Corporation will post ($0.02) EPS for the current year.
In related news, Director Marc Huffman purchased 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The shares were bought at an average price of $10.00 per share, for a total transaction of $100,000.00. Following the completion of the transaction, the director now owns 36,411 shares of the company’s stock, valued at $364,110. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider M Scot Wingo sold 15,000 shares of the firm’s stock in a transaction on Monday, June 19th. The stock was sold at an average price of $11.57, for a total value of $173,550.00. Following the completion of the transaction, the insider now owns 867,896 shares in the company, valued at approximately $10,041,556.72. The disclosure for this sale can be found here. Insiders sold 45,000 shares of company stock worth $496,050 in the last 90 days. 11.30% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Tudor Investment Corp ET AL bought a new position in shares of ChannelAdvisor Corporation in the first quarter worth $120,000. Citigroup Inc. increased its position in shares of ChannelAdvisor Corporation by 166.6% in the second quarter. Citigroup Inc. now owns 10,818 shares of the software maker’s stock worth $125,000 after purchasing an additional 6,760 shares during the period. ClariVest Asset Management LLC bought a new position in shares of ChannelAdvisor Corporation in the first quarter worth $136,000. Voya Investment Management LLC bought a new position in shares of ChannelAdvisor Corporation in the second quarter worth $136,000. Finally, Cubist Systematic Strategies LLC bought a new position in shares of ChannelAdvisor Corporation in the second quarter worth $138,000. Institutional investors own 81.72% 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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