ChannelAdvisor (NYSE:ECOM) Lifted to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of ChannelAdvisor (NYSE:ECOM) from a hold rating to a buy rating in a research note released on Friday, Zacks.com reports. Zacks Investment Research 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. “

Several other equities analysts have also recently issued reports on ECOM. ValuEngine upgraded ChannelAdvisor from a sell rating to a hold rating in a report on Thursday, August 1st. B. Riley set a $12.00 price target on ChannelAdvisor and gave the company a buy rating in a report on Friday, September 13th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. ChannelAdvisor presently has a consensus rating of Buy and a consensus price target of $11.01.

ChannelAdvisor stock traded down $0.47 during mid-day trading on Friday, hitting $9.00. The stock had a trading volume of 338,361 shares, compared to its average volume of 97,367. The stock has a 50-day simple moving average of $9.26 and a two-hundred day simple moving average of $9.41. The stock has a market capitalization of $273.98 million, a PE ratio of -34.62 and a beta of 0.41. ChannelAdvisor has a 12 month low of $8.01 and a 12 month high of $13.83. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.13.

ChannelAdvisor (NYSE:ECOM) last posted its quarterly earnings results on Thursday, August 8th. The software maker reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter last year, the business earned ($0.10) earnings per share. Sell-side analysts expect that ChannelAdvisor will post 0.04 earnings per share for the current fiscal year.

Large investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC lifted its stake in ChannelAdvisor by 23.9% in the second 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 period. Acadian Asset Management LLC lifted its stake in ChannelAdvisor by 16.7% in the second quarter. Acadian Asset Management LLC now owns 224,778 shares of the software maker’s stock valued at $1,969,000 after buying an additional 32,200 shares during the period. Menta Capital LLC acquired a new position in ChannelAdvisor in the second quarter valued at about $157,000. Campbell & CO Investment Adviser LLC acquired a new position in ChannelAdvisor in the third quarter valued at about $173,000. Finally, Bessemer Group Inc. lifted its stake in ChannelAdvisor by 10.8% in the second quarter. Bessemer Group Inc. now owns 96,600 shares of the software maker’s stock valued at $846,000 after buying an additional 9,400 shares during the period. 81.17% of the stock is currently owned by hedge funds and other institutional investors.

ChannelAdvisor Company Profile

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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