CommerceHub (CHUBA) Downgraded by Zacks Investment Research to Hold
Zacks Investment Research lowered shares of CommerceHub (NASDAQ:CHUBA) from a buy rating to a hold rating in a research note published on Friday.
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. “
A number of other research analysts have also weighed in on CHUBA. First Analysis initiated coverage on CommerceHub in a report on Friday, August 25th. They issued an overweight rating and a $25.00 price objective on the stock. DA Davidson initiated coverage on CommerceHub in a report on Friday, September 22nd. They issued a buy rating and a $27.00 price objective on the stock. Wedbush restated an outperform rating and issued a $26.00 price objective (up previously from $22.00) on shares of CommerceHub in a report on Monday, October 2nd. Finally, Dougherty & Co initiated coverage on CommerceHub in a report on Tuesday, October 31st. They issued a buy rating and a $27.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $25.80.
Several hedge funds and other institutional investors have recently bought and sold shares of CHUBA. Russell Investments Group Ltd. purchased a new position in shares of CommerceHub during the 2nd quarter worth $949,000. NGAM Advisors L.P. purchased a new position in shares of CommerceHub during the 2nd quarter worth $1,558,000. Spark Investment Management LLC purchased a new position in shares of CommerceHub during the 2nd quarter worth $1,804,000. S&CO Inc. purchased a new position in shares of CommerceHub during the 2nd quarter worth $2,104,000. Finally, Sei Investments Co. purchased a new position in shares of CommerceHub during the 2nd quarter worth $808,000. Institutional investors and hedge funds own 29.02% of the company’s stock.
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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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