CommerceHub, Inc. (NASDAQ:CHUBA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday. The brokerage currently has a $24.00 price objective on the technology company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 13.26% from the company’s current price.

According to Zacks, “CommerceHub, Inc. provides distributed commerce network which connecting supply, demand and delivery for retailers and brands. CommerceHub, Inc. is headquartered in Albany, United States. “

Other equities analysts have also issued reports about the company. Dougherty & Co assumed coverage on CommerceHub in a research report on Tuesday, October 31st. They set a “buy” rating and a $27.00 target price on the stock. Wedbush reissued an “outperform” rating and issued a $26.00 price target (up from $22.00) on shares of CommerceHub in a research report on Monday, October 2nd. DA Davidson assumed coverage on CommerceHub in a research report on Friday, September 22nd. They issued a “buy” rating and a $27.00 price target for the company. Finally, First Analysis assumed coverage on CommerceHub in a research report on Friday, August 25th. They issued an “overweight” rating and a $25.00 price target for the company. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $25.80.

Shares of CommerceHub (NASDAQ CHUBA) traded up $0.25 during trading hours on Tuesday, hitting $21.19. The stock had a trading volume of 195,900 shares, compared to its average volume of 87,531. CommerceHub has a one year low of $13.24 and a one year high of $24.53. The firm has a market capitalization of $905.59 and a price-to-earnings ratio of 69.80.

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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FMR LLC purchased a new stake in CommerceHub in the 2nd quarter valued at $28,465,000. Vaughan Nelson Investment Management L.P. purchased a new stake in CommerceHub in the 2nd quarter valued at $18,142,000. Vanguard Group Inc. purchased a new stake in CommerceHub in the 2nd quarter valued at $18,087,000. Pembroke Management LTD raised its position in CommerceHub by 2.6% in the 3rd quarter. Pembroke Management LTD now owns 911,782 shares of the technology company’s stock valued at $20,579,000 after buying an additional 23,100 shares during the last quarter. Finally, Employees Retirement System of Texas purchased a new stake in CommerceHub in the 2nd quarter valued at $7,090,000. 25.70% of the stock is owned by institutional investors and hedge funds.

CommerceHub Company Profile

CommerceHub, Inc is a provider of cloud-based e-commerce fulfillment and marketing solutions that integrate supply, demand and delivery for retailers and consumer brands, manufacturers and distributors. The Company’s end-to-end solutions are provided through the CommerceHub software platform, a hub that streamlines integration and enables transactions among its retailer and supplier customers and their other trading partners, while also enabling them to access the online marketplaces, search engines, social and product advertising and other digital marketing channels where consumers browse and buy.

Analyst Recommendations for CommerceHub (NASDAQ:CHUBA)

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