ChannelAdvisor Corporation’s (ECOM) “Buy” Rating Reiterated at Needham & Company LLC
ChannelAdvisor Corporation (NYSE:ECOM)‘s stock had its “buy” rating restated by research analysts at Needham & Company LLC in a research note issued on Wednesday. They currently have a $18.00 price objective on the software maker’s stock. Needham & Company LLC’s price target points to a potential upside of 60.00% from the company’s current price.
Several other analysts have also commented on the stock. BidaskClub lowered shares of ChannelAdvisor Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, September 27th. KeyCorp reissued a “hold” rating on shares of ChannelAdvisor Corporation in a research note on Friday, August 25th. DA Davidson began coverage on shares of ChannelAdvisor Corporation in a research note on Friday, September 22nd. They set a “neutral” rating and a $12.50 target price for the company. Finally, First Analysis upgraded shares of ChannelAdvisor Corporation from an “equal weight” rating to an “overweight” rating and set a $13.00 price target for the company in a research report on Thursday, August 31st. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $14.50.
ChannelAdvisor Corporation (ECOM) opened at 11.25 on Wednesday. ChannelAdvisor Corporation has a 12 month low of $9.80 and a 12 month high of $15.85. The company’s 50 day moving average price is $11.58 and its 200 day moving average price is $11.32. The firm’s market capitalization is $297.35 million.
ChannelAdvisor Corporation (NYSE:ECOM) last released its earnings results on Thursday, August 3rd. The software maker reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.05). ChannelAdvisor Corporation had a negative net margin of 7.42% and a negative return on equity of 7.63%. The business had revenue of $30.00 million for the quarter, compared to analyst estimates of $28.65 million. During the same period in the prior year, the company earned ($0.11) earnings per share. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. Analysts anticipate that ChannelAdvisor Corporation will post ($0.03) EPS for the current year.
In related news, insider M Scot Wingo sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 29th. The shares were sold at an average price of $10.41, for a total value of $156,150.00. Following the completion of the sale, the insider now owns 837,896 shares in the company, valued at approximately $8,722,497.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Marc Huffman purchased 10,000 shares of ChannelAdvisor Corporation stock in a transaction that occurred on Thursday, August 10th. The stock was purchased at an average price of $10.00 per share, with a total value of $100,000.00. Following the transaction, the director now owns 36,411 shares in the company, valued at approximately $364,110. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 45,000 shares of company stock valued at $512,550. 11.30% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in ECOM. Janus Henderson Group PLC purchased a new stake in ChannelAdvisor Corporation in the 2nd quarter worth approximately $26,368,000. Disciplined Growth Investors Inc. MN lifted its position in ChannelAdvisor Corporation by 214.7% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 639,982 shares of the software maker’s stock worth $7,392,000 after buying an additional 436,618 shares in the last quarter. Archon Capital Management LLC lifted its position in ChannelAdvisor Corporation by 42.5% in the 2nd quarter. Archon Capital Management LLC now owns 588,510 shares of the software maker’s stock worth $6,797,000 after buying an additional 175,467 shares in the last quarter. Renaissance Technologies LLC lifted its position in ChannelAdvisor Corporation by 87.8% in the 1st quarter. Renaissance Technologies LLC now owns 238,076 shares of the software maker’s stock worth $2,655,000 after buying an additional 111,276 shares in the last quarter. Finally, Emerald Advisers Inc. PA lifted its position in ChannelAdvisor Corporation by 10.0% in the 3rd quarter. Emerald Advisers Inc. PA now owns 726,017 shares of the software maker’s stock worth $8,349,000 after buying an additional 66,082 shares in the last quarter. Institutional investors own 81.48% of the company’s stock.
About ChannelAdvisor Corporation
Channeladvisor Corporation is a provider of Software as a service (SaaS) solutions. The Company’s SaaS solutions enable retailer and branded manufacturer customers to integrate, manage and optimize their merchandise sales via hundreds of online channels. The Company’s platform enable its customers to connect with new and existing sources of demand for their products, including e-commerce marketplaces, such as Amazon, eBay, Jet.com, Newegg, Sears and Walmart, search engines and comparison shopping Websites, such as Google, Microsoft’s Bing and Nextag, and social channels, such as Facebook, Instagram and Pinterest.
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