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. “
Several other research firms have also recently weighed in on ECOM. Needham & Company LLC started coverage on ChannelAdvisor Corp. in a research report on Friday, September 23rd. They set a buy rating and a $16.00 price objective for the company. Pacific Crest restated a hold rating on shares of ChannelAdvisor Corp. in a research note on Friday, August 5th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $15.50.
ChannelAdvisor Corp. (NYSE:ECOM) opened at 12.34 on Wednesday. The stock has a 50 day moving average price of $12.38 and a 200 day moving average price of $13.05. ChannelAdvisor Corp. has a 12 month low of $8.71 and a 12 month high of $15.91. The firm’s market cap is $317.09 million.
ChannelAdvisor Corp. (NYSE:ECOM) last posted its quarterly earnings data on Thursday, August 4th. The company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.03. ChannelAdvisor Corp. had a negative return on equity of 19.19% and a negative net margin of 15.63%. The business earned $27.10 million during the quarter, compared to analysts’ expectations of $26.99 million. During the same quarter in the previous year, the firm earned ($0.10) EPS. The firm’s revenue was up 12.0% compared to the same quarter last year. On average, equities analysts expect that ChannelAdvisor Corp. will post ($0.25) earnings per share for the current fiscal year.
In other news, insider M Scot Wingo sold 60,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $12.19, for a total value of $731,400.00. Following the sale, the insider now directly owns 1,030,505 shares in the company, valued at approximately $12,561,855.95. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Mark Cook acquired 10,000 shares of the stock in a transaction dated Tuesday, August 23rd. The stock was bought at an average price of $12.26 per share, for a total transaction of $122,600.00. Following the completion of the purchase, the chief financial officer now owns 100,529 shares in the company, valued at approximately $1,232,485.54. The disclosure for this purchase can be found here. Corporate insiders own 11.60% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the stock. State Board of Administration of Florida Retirement System raised its stake in ChannelAdvisor Corp. by 0.9% in the second quarter. State Board of Administration of Florida Retirement System now owns 18,984 shares of the company’s stock valued at $275,000 after buying an additional 164 shares in the last quarter. Royal Bank of Canada raised its stake in 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 in the last quarter. Nationwide Fund Advisors raised its stake in ChannelAdvisor Corp. by 3.8% in the second quarter. Nationwide Fund Advisors now owns 15,259 shares of the company’s stock valued at $221,000 after buying an additional 563 shares in the last quarter. American International Group Inc. raised its stake in ChannelAdvisor Corp. by 5.2% in the second quarter. American International Group Inc. now owns 13,359 shares of the company’s stock valued at $194,000 after buying an additional 663 shares in the last quarter. Finally, BlackRock Advisors LLC raised its stake in ChannelAdvisor Corp. by 9.1% in the second quarter. BlackRock Advisors LLC now owns 10,884 shares of the company’s stock valued at $158,000 after buying an additional 910 shares in 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for ChannelAdvisor Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ChannelAdvisor Corp. and related companies with MarketBeat.com's FREE daily email newsletter.