ChannelAdvisor Corp. (ECOM) Downgraded by Zacks Investment Research
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. “
Separately, Pacific Crest reissued a hold rating on shares of ChannelAdvisor Corp. in a research report on Friday, August 5th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of Hold and an average price target of $15.33.
ChannelAdvisor Corp. (NYSE:ECOM) opened at 12.01 on Thursday. The firm’s 50-day moving average is $12.84 and its 200 day moving average is $12.94. The stock’s market cap is $308.61 million. ChannelAdvisor Corp. has a one year low of $8.71 and a one year high of $15.91.
ChannelAdvisor Corp. (NYSE:ECOM) last released its quarterly earnings results on Thursday, August 4th. The company reported ($0.11) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.14) by $0.03. The business earned $27.10 million during the quarter, compared to analyst estimates of $26.99 million. ChannelAdvisor Corp. had a negative net margin of 15.63% and a negative return on equity of 19.19%. The company’s quarterly revenue was up 12.0% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.10) earnings per share. On average, analysts anticipate that ChannelAdvisor Corp. will post ($0.25) EPS for the current fiscal year.
In other ChannelAdvisor Corp. news, CFO Mark Cook purchased 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 23rd. The shares were bought at an average price of $12.26 per share, for a total transaction of $122,600.00. Following the acquisition, the chief financial officer now owns 100,529 shares in the company, valued at $1,232,485.54. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider M Scot Wingo sold 60,000 shares of the stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $12.19, for a total transaction of $731,400.00. Following the completion of the transaction, the insider now owns 1,030,505 shares in the company, valued at approximately $12,561,855.95. The disclosure for this sale can be found here. 11.60% of the stock is currently owned by corporate insiders.
Institutional investors have recently modified their holdings of the company. Royal Bank of Canada increased its position in shares of ChannelAdvisor Corp. by 2.8% in the first quarter. Royal Bank of Canada now owns 12,054 shares of the company’s stock valued at $136,000 after buying an additional 328 shares during the period. BlackRock Group LTD boosted its stake in shares of ChannelAdvisor Corp. by 78.5% in the second quarter. BlackRock Group LTD now owns 9,805 shares of the company’s stock worth $142,000 after buying an additional 4,311 shares during the last quarter. Mizuho Securities USA Inc. purchased a new stake in shares of ChannelAdvisor Corp. during the second quarter worth approximately $145,000. BlackRock Advisors LLC boosted its stake in shares of ChannelAdvisor Corp. by 9.1% in the second quarter. BlackRock Advisors LLC now owns 10,884 shares of the company’s stock worth $158,000 after buying an additional 910 shares during the last quarter. Finally, American International Group Inc. boosted its stake in shares of ChannelAdvisor Corp. by 5.2% in the second quarter. American International Group Inc. now owns 13,359 shares of the company’s stock worth $194,000 after buying an additional 663 shares during the last quarter. Institutional investors own 83.87% of the company’s stock.
ChannelAdvisor Corp. Company Profile
ChannelAdvisor Corporation is a provider of software as a service (SaaS) solutions. The Company’s SaaS solutions enable its retailer and manufacturer customers to integrate and manage their merchandise sales across various online channels. Through its platform, the Company enables its customers to connect with various sources of demand for their products, including e-commerce marketplaces, such as Amazon, eBay, Jet.com, Newegg and Sears, search engines and comparison shopping Websites, such as Google, Microsoft’s Bing and Nextag, and other channels, such as Facebook and Pinterest.
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