ChannelAdvisor (NYSE:ECOM) Upgraded to “Hold” by ValuEngine

ValuEngine upgraded shares of ChannelAdvisor (NYSE:ECOM) from a sell rating to a hold rating in a report issued on Thursday morning, ValuEngine reports.

Several other analysts have also recently commented on the company. Needham & Company LLC restated a buy rating and set a $12.00 target price (down previously from $18.00) on shares of ChannelAdvisor in a report on Friday, May 10th. Zacks Investment Research lowered ChannelAdvisor from a buy rating to a hold rating in a research note on Wednesday, July 24th. Finally, First Analysis lowered ChannelAdvisor from a strong-buy rating to an outperform rating and set a $10.02 price target on the stock. in a research note on Friday, May 10th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus price target of $15.76.

NYSE:ECOM traded down $0.39 during trading hours on Thursday, reaching $8.60. The company had a trading volume of 2,982 shares, compared to its average volume of 107,206. The business has a 50-day simple moving average of $9.17. ChannelAdvisor has a one year low of $8.52 and a one year high of $14.50. The firm has a market cap of $250.43 million, a price-to-earnings ratio of -33.24 and a beta of 0.21. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.16.

ChannelAdvisor (NYSE:ECOM) last announced its earnings results on Thursday, May 9th. The software maker reported $0.04 EPS for the quarter, topping the consensus estimate of ($0.13) by $0.17. The company had revenue of $31.57 million for the quarter, compared to analysts’ expectations of $31.79 million. ChannelAdvisor had a negative return on equity of 7.02% and a negative net margin of 5.16%. The business’s revenue for the quarter was up .4% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.02) earnings per share. As a group, equities research analysts predict that ChannelAdvisor will post -0.08 earnings per share for the current year.

Institutional investors and hedge funds have recently modified their holdings of the company. Martingale Asset Management L P acquired a new position in ChannelAdvisor in the first quarter valued at about $1,715,000. Dimensional Fund Advisors LP lifted its stake in ChannelAdvisor by 161.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 157,236 shares of the software maker’s stock valued at $1,785,000 after buying an additional 96,983 shares during the period. Acadian Asset Management LLC lifted its stake in ChannelAdvisor by 95.3% in the first quarter. Acadian Asset Management LLC now owns 192,578 shares of the software maker’s stock valued at $2,346,000 after buying an additional 93,949 shares during the period. Spark Investment Management LLC lifted its stake in ChannelAdvisor by 67.2% in the first quarter. Spark Investment Management LLC now owns 151,500 shares of the software maker’s stock valued at $1,845,000 after buying an additional 60,899 shares during the period. Finally, IndexIQ Advisors LLC acquired a new position in ChannelAdvisor in the first quarter valued at about $570,000. 81.74% 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 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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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