Zacks Investment Research upgraded shares of ChannelAdvisor (NYSE:ECOM) from a hold rating to a buy rating in a report published on Thursday morning, Zacks.com reports. The firm currently has $10.00 price objective on the software maker’s stock.
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. “
Other equities research analysts have also recently issued research reports about the company. ValuEngine upgraded ChannelAdvisor from a sell rating to a hold rating in a report on Thursday, August 1st. First Analysis cut ChannelAdvisor from a strong-buy rating to an outperform rating and set a $10.02 target price on the stock. in a report on Friday, May 10th. Finally, Needham & Company LLC reiterated a buy rating and set a $12.00 target price (down previously from $18.00) on shares of ChannelAdvisor in a report on Friday, May 10th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of $15.76.
ECOM opened at $8.92 on Thursday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.92 and a current ratio of 1.85. The stock’s 50 day simple moving average is $9.14 and its 200 day simple moving average is $10.65. ChannelAdvisor has a 1-year low of $8.01 and a 1-year high of $14.36.
ChannelAdvisor (NYSE:ECOM) last released its quarterly earnings results on Thursday, August 8th. The software maker reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.03. The business had revenue of $31.93 million for the quarter, compared to analysts’ expectations of $31.71 million. ChannelAdvisor had a negative return on equity of 5.35% and a negative net margin of 4.09%. The company’s revenue was down 2.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.10) EPS.
A number of large investors have recently made changes to their positions in the business. BlackRock Inc. grew its holdings in ChannelAdvisor by 8.5% during the 2nd quarter. BlackRock Inc. now owns 1,844,294 shares of the software maker’s stock valued at $16,156,000 after buying an additional 145,212 shares during the last quarter. Vanguard Group Inc. grew its holdings in ChannelAdvisor by 8.9% during the 2nd quarter. Vanguard Group Inc. now owns 1,404,036 shares of the software maker’s stock valued at $12,300,000 after buying an additional 115,238 shares during the last quarter. Renaissance Technologies LLC grew its holdings in ChannelAdvisor by 23.9% during the 2nd quarter. Renaissance Technologies LLC now owns 384,200 shares of the software maker’s stock valued at $3,366,000 after buying an additional 74,100 shares during the last quarter. Geode Capital Management LLC grew its holdings in ChannelAdvisor by 4.3% during the 4th quarter. Geode Capital Management LLC now owns 271,091 shares of the software maker’s stock valued at $3,076,000 after buying an additional 11,196 shares during the last quarter. Finally, AQR Capital Management LLC grew its holdings in ChannelAdvisor by 189.2% during the 2nd quarter. AQR Capital Management LLC now owns 230,103 shares of the software maker’s stock valued at $2,016,000 after buying an additional 150,531 shares during the last quarter. Hedge funds and other institutional investors own 84.27% of the company’s stock.
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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