ChannelAdvisor (NYSE:ECOM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday, reports. The firm currently has a $11.00 target price on the software maker’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 11.00% from the stock’s previous close.

According to Zacks, “Channel Advisor Corporation offers cloud-based e-commerce solutions and services. It solutions include marketplaces, comparison shopping, paid search, social campaigns, flex feeds, web stores and rich media. The company serves traditional retailers, online retailers, brand manufacturers and advertising agencies. Channel Advisor Corporation is headquartered in Morrisville, North Carolina. “

Separately, First Analysis reaffirmed a “buy” rating and issued a $11.00 price target on shares of ChannelAdvisor in a research report on Sunday, January 5th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $11.50.

NYSE ECOM traded up $0.15 during trading on Wednesday, hitting $9.91. 98,208 shares of the company traded hands, compared to its average volume of 88,361. ChannelAdvisor has a 12 month low of $8.01 and a 12 month high of $13.83. The business has a fifty day simple moving average of $9.23 and a 200 day simple moving average of $9.19. The company has a current ratio of 2.02, a quick ratio of 2.02 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $274.07 million, a P/E ratio of -38.12 and a beta of 0.37.

ChannelAdvisor (NYSE:ECOM) last posted its earnings results on Thursday, November 7th. The software maker reported $0.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.04. ChannelAdvisor had a positive return on equity of 0.25% and a negative net margin of 1.02%. The company had revenue of $31.68 million for the quarter, compared to analyst estimates of $31.73 million. Equities research analysts predict that ChannelAdvisor will post 0.08 EPS for the current fiscal year.

In other news, Chairman M Scot Wingo sold 10,000 shares of the firm’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $9.01, for a total value of $90,100.00. Following the sale, the chairman now directly owns 577,115 shares of the company’s stock, valued at $5,199,806.15. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last ninety days, insiders sold 35,274 shares of company stock worth $318,819. 8.10% of the stock is currently owned by company insiders.

Large investors have recently modified their holdings of the company. Renaissance Technologies LLC grew its position in shares of ChannelAdvisor by 23.9% in the second quarter. Renaissance Technologies LLC now owns 384,200 shares of the software maker’s stock valued at $3,366,000 after purchasing an additional 74,100 shares during the last quarter. State Street Corp grew its position in ChannelAdvisor by 0.5% during the third quarter. State Street Corp now owns 474,649 shares of the software maker’s stock worth $4,428,000 after buying an additional 2,257 shares in the last quarter. Altai Capital Management L.P. grew its position in ChannelAdvisor by 28.5% during the third quarter. Altai Capital Management L.P. now owns 3,464,638 shares of the software maker’s stock worth $32,325,000 after buying an additional 768,145 shares in the last quarter. Squarepoint Ops LLC grew its position in ChannelAdvisor by 109.8% during the third quarter. Squarepoint Ops LLC now owns 75,571 shares of the software maker’s stock worth $705,000 after buying an additional 39,558 shares in the last quarter. Finally, Mackay Shields LLC acquired a new stake in ChannelAdvisor during the third quarter worth about $137,000. 82.31% of the stock is currently owned by institutional investors.

ChannelAdvisor Company Profile

ChannelAdvisor Corporation provides software-as-a-service solutions in the United States and internationally. Its e-commerce cloud platform helps brands and retailers to improve their online performance by expanding sales channels, connecting with consumers around the world, optimizing their operations for peak performance, and providing actionable analytics to improve competitiveness.

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