ChannelAdvisor Corp. (NYSE:ECOM) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday.
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. “
A number of other analysts have also recently commented on ECOM. Needham & Company LLC began coverage on ChannelAdvisor Corp. in a research report on Friday, September 23rd. They issued a “buy” rating and a $16.00 price target on the stock. Pacific Crest reaffirmed a “hold” rating on shares of ChannelAdvisor Corp. in a research report on Friday, August 5th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $15.50.
ChannelAdvisor Corp. (NYSE:ECOM) opened at 12.61 on Wednesday. ChannelAdvisor Corp. has a 12-month low of $8.71 and a 12-month high of $15.91. The company’s market capitalization is $324.03 million. The stock has a 50 day moving average price of $12.38 and a 200-day moving average price of $13.04.
ChannelAdvisor Corp. (NYSE:ECOM) last issued its quarterly earnings results on Thursday, August 4th. The company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.03. ChannelAdvisor Corp. had a negative return on equity of 19.19% and a negative net margin of 15.63%. The firm had revenue of $27.10 million for the quarter, compared to analysts’ expectations of $26.99 million. During the same period in the previous year, the firm posted ($0.10) EPS. The business’s revenue for the quarter was up 12.0% compared to the same quarter last year. Equities analysts predict that ChannelAdvisor Corp. will post ($0.25) EPS for the current fiscal year.
In other ChannelAdvisor Corp. news, insider M Scot Wingo sold 60,000 shares of the business’s stock in a transaction on Tuesday, August 23rd. The shares were sold at an average price of $12.19, for a total transaction of $731,400.00. Following the completion of the sale, the insider now directly owns 1,030,505 shares in the company, valued at approximately $12,561,855.95. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Mark Cook bought 10,000 shares of the firm’s stock in a transaction on Tuesday, August 23rd. The shares were bought at an average price of $12.26 per share, with a total value of $122,600.00. Following the completion of the purchase, the chief financial officer now owns 100,529 shares in the company, valued at approximately $1,232,485.54. The disclosure for this purchase can be found here. 11.60% of the stock is owned by corporate insiders.
Large investors have recently made changes to their positions in the stock. Riverbridge Partners LLC raised its stake in shares of ChannelAdvisor Corp. by 15.1% in the second quarter. Riverbridge Partners LLC now owns 1,869,355 shares of the company’s stock worth $27,087,000 after buying an additional 245,387 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of ChannelAdvisor Corp. by 4.8% in the second quarter. Vanguard Group Inc. now owns 1,228,181 shares of the company’s stock worth $17,796,000 after buying an additional 56,445 shares in the last quarter. BlackRock Fund Advisors raised its stake in shares of ChannelAdvisor Corp. by 7.2% in the second quarter. BlackRock Fund Advisors now owns 603,579 shares of the company’s stock worth $8,746,000 after buying an additional 40,561 shares in the last quarter. Spark Investment Management LLC bought a new stake in shares of ChannelAdvisor Corp. during the second quarter worth $508,000. Finally, Janus Capital Management LLC raised its stake in shares of ChannelAdvisor Corp. by 1.5% in the second quarter. Janus Capital Management LLC now owns 2,231,740 shares of the company’s stock worth $32,338,000 after buying an additional 33,569 shares in the last quarter. Institutional investors and hedge funds own 83.87% of the company’s stock.
About ChannelAdvisor Corp.
ChannelAdvisor Corporation is a provider of software as a service (SaaS) solutions. The Company’s SaaS solutions enable its retailer and manufacturer customers to integrate and manage their merchandise sales across various online channels. Through its platform, the Company enables its customers to connect with various sources of demand for their products, including e-commerce marketplaces, such as Amazon, eBay, Jet.com, Newegg and Sears, search engines and comparison shopping Websites, such as Google, Microsoft’s Bing and Nextag, and other channels, such as Facebook and Pinterest.
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