B. Riley set a $31.00 target price on ChannelAdvisor (NYSE:ECOM) in a research note released on Tuesday morning. The firm currently has a buy rating on the software maker’s stock.
ECOM has been the topic of several other reports. ValuEngine upgraded ChannelAdvisor from a hold rating to a buy rating in a research note on Monday, October 8th. Zacks Investment Research upgraded ChannelAdvisor from a hold rating to a buy rating and set a $15.00 price objective on the stock in a research note on Wednesday, August 15th. Finally, Needham & Company LLC upped their price objective on ChannelAdvisor from $17.00 to $18.00 and gave the company a buy rating in a research note on Friday, August 10th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $17.71.
Shares of ECOM opened at $11.57 on Tuesday. ChannelAdvisor has a 12-month low of $8.30 and a 12-month high of $15.63. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.83 and a current ratio of 1.83. The stock has a market cap of $320.02 million, a P/E ratio of -21.83 and a beta of 0.32.
ChannelAdvisor (NYSE:ECOM) last issued its quarterly earnings results on Thursday, August 9th. The software maker reported ($0.10) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.10). ChannelAdvisor had a negative return on equity of 12.48% and a negative net margin of 8.13%. The firm had revenue of $32.66 million for the quarter, compared to analyst estimates of $31.46 million. During the same period in the previous year, the company posted ($0.15) earnings per share. The company’s quarterly revenue was up 8.9% compared to the same quarter last year. Analysts anticipate that ChannelAdvisor will post -0.34 EPS for the current fiscal year.
In other news, insider M Scot Wingo sold 47,692 shares of the business’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 value of $620,949.84. Following the transaction, the insider now directly owns 710,502 shares of the company’s stock, valued at approximately $9,250,736.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last quarter, insiders sold 60,192 shares of company stock worth $783,478. Corporate insiders own 7.80% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. Engineers Gate Manager LP acquired a new position in ChannelAdvisor during the 2nd quarter worth $166,000. Russell Investments Group Ltd. lifted its holdings in ChannelAdvisor by 113.5% during the 1st 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 in the last quarter. Cubist Systematic Strategies LLC lifted its holdings in ChannelAdvisor by 51.4% during the 2nd 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 in the last quarter. Strs Ohio acquired a new position in ChannelAdvisor during the 2nd quarter worth $331,000. Finally, Levin Capital Strategies L.P. lifted its holdings in ChannelAdvisor by 142.7% during the 3rd quarter. Levin Capital Strategies L.P. now owns 25,000 shares of the software maker’s stock worth $311,000 after buying an additional 14,700 shares in the last quarter. 73.28% of the stock is currently owned by institutional investors and hedge funds.
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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