Zacks Investment Research Upgrades CommerceHub, Inc. (CHUBA) to Buy
CommerceHub, Inc. (NASDAQ:CHUBA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The firm currently has a $24.00 price objective on the technology company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 12.94% from the company’s previous close.
According to Zacks, “CommerceHub, Inc. provides distributed commerce network which connecting supply, demand and delivery for retailers and brands. CommerceHub, Inc. is headquartered in Albany, United States. “
CHUBA has been the topic of several other reports. DA Davidson began coverage on CommerceHub in a research report on Friday, September 22nd. They issued a “buy” rating and a $27.00 price objective on the stock. Dougherty & Co began coverage on CommerceHub in a research report on Tuesday, October 31st. They issued a “buy” rating and a $27.00 price objective on the stock. First Analysis assumed coverage on CommerceHub in a research report on Friday, August 25th. They issued an “overweight” rating and a $25.00 price objective on the stock. Finally, Wedbush reiterated an “outperform” rating and issued a $26.00 target price (up from $22.00) on shares of CommerceHub in a research report on Monday, October 2nd. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $25.80.
Shares of CommerceHub (NASDAQ:CHUBA) traded down $0.08 during trading on Tuesday, hitting $21.25. The stock had a trading volume of 131,300 shares, compared to its average volume of 87,721. CommerceHub has a fifty-two week low of $13.74 and a fifty-two week high of $24.53. The stock has a market capitalization of $922.46 and a P/E ratio of 71.10.
Several large investors have recently bought and sold shares of the stock. Nationwide Fund Advisors purchased a new stake in CommerceHub during the second quarter valued at approximately $137,000. First Quadrant L P CA purchased a new stake in CommerceHub during the second quarter valued at approximately $154,000. Trexquant Investment LP purchased a new stake in CommerceHub during the second quarter valued at approximately $207,000. Hosking Partners LLP purchased a new stake in CommerceHub during the third quarter valued at approximately $217,000. Finally, Diligent Investors LLC purchased a new stake in CommerceHub during the third quarter valued at approximately $223,000. Institutional investors own 25.70% of the company’s stock.
CommerceHub Company Profile
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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