Zacks Investment Research Lowers ChannelAdvisor (NYSE:ECOM) to Hold

Zacks Investment Research lowered shares of ChannelAdvisor (NYSE:ECOM) from a buy rating to a hold rating in a research report report published on Thursday, Zacks.com reports.

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. “

Several other brokerages have also weighed in on ECOM. Needham & Company LLC reiterated a buy rating and set a $42.00 price objective (down previously from $45.00) on shares of Synaptics in a report on Friday, May 10th. ValuEngine lowered shares of Zumiez from a hold rating to a sell rating in a report on Tuesday, July 2nd. Finally, First Analysis lowered shares of ChannelAdvisor from a strong-buy rating to an outperform rating and set a $10.02 price objective on the stock. in a report on Friday, May 10th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. The company has a consensus rating of Hold and a consensus price target of $16.01.

ECOM stock opened at $9.39 on Thursday. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.16. ChannelAdvisor has a 12-month low of $8.52 and a 12-month high of $15.50. The firm has a fifty day moving average price of $9.15.

ChannelAdvisor (NYSE:ECOM) last announced its quarterly earnings data on Thursday, May 9th. The software maker reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.17. ChannelAdvisor had a negative net margin of 5.16% and a negative return on equity of 7.02%. The firm had revenue of $31.57 million for the quarter, compared to analyst estimates of $31.79 million. During the same quarter in the prior year, the business earned ($0.02) earnings per share. The business’s quarterly revenue was up .4% compared to the same quarter last year. Equities analysts anticipate that ChannelAdvisor will post -0.08 earnings per share for the current fiscal year.

In other news, insider M Scot Wingo sold 5,442 shares of the company’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $12.02, for a total transaction of $65,412.84. Following the transaction, the insider now owns 583,831 shares in the company, valued at $7,017,648.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 8.10% of the stock is currently owned by corporate insiders.

Several large investors have recently bought and sold shares of ECOM. Cannell Capital LLC increased its position in shares of ChannelAdvisor by 1,760.7% during the fourth quarter. Cannell Capital LLC now owns 625,156 shares of the software maker’s stock worth $7,096,000 after acquiring an additional 591,559 shares in the last quarter. Martingale Asset Management L P bought a new stake in shares of ChannelAdvisor during the first quarter worth about $1,715,000. Dimensional Fund Advisors LP increased its position in shares of ChannelAdvisor by 161.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 157,236 shares of the software maker’s stock worth $1,785,000 after acquiring an additional 96,983 shares in the last quarter. Acadian Asset Management LLC increased its position in shares of ChannelAdvisor by 95.3% during the first quarter. Acadian Asset Management LLC now owns 192,578 shares of the software maker’s stock worth $2,346,000 after acquiring an additional 93,949 shares in the last quarter. Finally, Spark Investment Management LLC increased its position in shares of ChannelAdvisor by 67.2% during the first quarter. Spark Investment Management LLC now owns 151,500 shares of the software maker’s stock worth $1,845,000 after acquiring an additional 60,899 shares in the last quarter. 81.83% of the stock is owned by institutional investors.

About ChannelAdvisor

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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