ChannelAdvisor (NYSE:ECOM) had its price objective increased by Needham & Company LLC from $12.00 to $17.00 in a research report report published on Friday morning, MarketBeat reports. Needham & Company LLC currently has a buy rating on the software maker’s stock.
Other analysts also recently issued reports about the company. First Analysis reiterated a buy rating and set a $13.00 target price on shares of ChannelAdvisor in a research note on Monday, April 23rd. ValuEngine downgraded ChannelAdvisor from a sell rating to a strong sell rating in a research note on Friday, February 2nd. TheStreet upgraded ChannelAdvisor from a d+ rating to a c- rating in a research note on Wednesday, May 9th. Zacks Investment Research upgraded ChannelAdvisor from a hold rating to a buy rating and set a $13.00 price target on the stock in a research note on Tuesday, April 24th. Finally, DA Davidson raised their price target on ChannelAdvisor from $11.50 to $13.00 and gave the stock a buy rating in a research note on Monday, April 23rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of Buy and an average target price of $14.33.
Shares of ECOM opened at $14.75 on Friday. ChannelAdvisor has a 12 month low of $14.20 and a 12 month high of $14.65. The firm has a market cap of $405.27 million, a price-to-earnings ratio of -27.83 and a beta of 0.05.
ChannelAdvisor (NYSE:ECOM) last issued its earnings results on Thursday, May 10th. The software maker reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.17) by $0.15. ChannelAdvisor had a negative return on equity of 14.23% and a negative net margin of 9.28%. The business had revenue of $31.40 million for the quarter, compared to the consensus estimate of $29.97 million. During the same period last year, the business posted ($0.10) EPS. The company’s revenue was up 11.0% compared to the same quarter last year. equities research analysts anticipate that ChannelAdvisor will post -0.48 earnings per share for the current year.
In related news, CFO Mark Cook bought 5,500 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were bought at an average cost of $8.87 per share, with a total value of $48,785.00. Following the acquisition, the chief financial officer now owns 158,945 shares in the company, valued at $1,409,842.15. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider M Scot Wingo sold 40,000 shares of the firm’s stock in a transaction on Friday, March 16th. The stock was sold at an average price of $9.15, for a total value of $366,000.00. The disclosure for this sale can be found here. Company insiders own 7.80% of the company’s stock.
A number of institutional investors have recently made changes to their positions in ECOM. Archon Capital Management LLC raised its holdings in ChannelAdvisor by 26.8% in the 4th quarter. Archon Capital Management LLC now owns 1,065,346 shares of the software maker’s stock worth $9,588,000 after purchasing an additional 225,472 shares during the period. potrero capital research llc raised its holdings in ChannelAdvisor by 251.5% in the 4th quarter. potrero capital research llc now owns 277,840 shares of the software maker’s stock worth $2,501,000 after purchasing an additional 198,798 shares during the period. ArrowMark Colorado Holdings LLC raised its holdings in ChannelAdvisor by 4.2% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 4,265,810 shares of the software maker’s stock worth $38,392,000 after purchasing an additional 173,491 shares during the period. Millennium Management LLC raised its holdings in ChannelAdvisor by 178.0% in the 4th quarter. Millennium Management LLC now owns 261,848 shares of the software maker’s stock worth $2,357,000 after purchasing an additional 167,660 shares during the period. Finally, Cortina Asset Management LLC raised its holdings in ChannelAdvisor by 22.8% in the 4th quarter. Cortina Asset Management LLC now owns 617,251 shares of the software maker’s stock worth $5,555,000 after purchasing an additional 114,435 shares during the period. 74.32% of the stock is currently owned by 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 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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