Shares of ChannelAdvisor Corp (NYSE:ECOM) have earned a consensus recommendation of “Buy” from the eleven ratings firms that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and six have issued a buy recommendation on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $15.86.

Several equities research analysts recently issued reports on ECOM shares. Zacks Investment Research raised ChannelAdvisor from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research report on Wednesday, August 15th. Needham & Company LLC upped their price target on ChannelAdvisor from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Friday, August 10th. B. Riley set a $18.00 price target on ChannelAdvisor and gave the company a “buy” rating in a research report on Friday, August 10th. First Analysis set a $17.00 price target on ChannelAdvisor and gave the company a “buy” rating in a research report on Wednesday, June 13th. Finally, ValuEngine lowered ChannelAdvisor from a “buy” rating to a “hold” rating in a research report on Thursday, August 23rd.

In related news, insider M Scot Wingo sold 47,692 shares of the company’s stock in a transaction that occurred on Wednesday, August 29th. The stock was sold at an average price of $13.02, for a total transaction of $620,949.84. Following the sale, the insider now directly owns 710,502 shares of the company’s stock, valued at approximately $9,250,736.04. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 7.80% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Cubist Systematic Strategies LLC increased its position in ChannelAdvisor by 51.4% in the second quarter. Cubist Systematic Strategies LLC now owns 14,645 shares of the software maker’s stock worth $206,000 after buying an additional 4,975 shares during the period. Russell Investments Group Ltd. increased its position in ChannelAdvisor by 113.5% in the first quarter. Russell Investments Group Ltd. now owns 12,990 shares of the software maker’s stock worth $118,000 after buying an additional 6,905 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its position in ChannelAdvisor by 13.6% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 69,346 shares of the software maker’s stock worth $974,000 after buying an additional 8,325 shares during the period. Rhumbline Advisers increased its position in ChannelAdvisor by 40.4% in the second quarter. Rhumbline Advisers now owns 32,176 shares of the software maker’s stock worth $452,000 after buying an additional 9,262 shares during the period. Finally, Engineers Gate Manager LP acquired a new stake in ChannelAdvisor in the second quarter worth $166,000. 73.12% of the stock is currently owned by hedge funds and other institutional investors.

ChannelAdvisor stock opened at $11.30 on Friday. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.02. ChannelAdvisor has a 52 week low of $8.30 and a 52 week high of $15.63.

ChannelAdvisor (NYSE:ECOM) last released its earnings results on Thursday, August 9th. The software maker reported ($0.10) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.10). The company had revenue of $32.66 million during the quarter, compared to analysts’ expectations of $31.46 million. ChannelAdvisor had a negative return on equity of 12.48% and a negative net margin of 8.13%. The business’s revenue was up 8.9% on a year-over-year basis. During the same period in the prior year, the business posted ($0.15) EPS. equities research analysts forecast that ChannelAdvisor will post -0.34 EPS for the current year.

About ChannelAdvisor

ChannelAdvisor Corporation provides software-as-a-service solutions in the United States and internationally. Its e-commerce cloud platform helps retailers and branded manufacturers 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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Analyst Recommendations for ChannelAdvisor (NYSE:ECOM)

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