Zacks Investment Research upgraded shares of ChannelAdvisor (NYSE:ECOM) from a hold rating to a buy rating in a report released on Wednesday morning. Zacks Investment Research currently has $13.00 target price on the software maker’s stock.

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. “

A number of other equities analysts have also recently issued reports on the stock. B. Riley set a $31.00 price objective on shares of ChannelAdvisor and gave the company a buy rating in a research report on Tuesday, November 6th. ValuEngine raised shares of ChannelAdvisor from a hold rating to a buy rating in a research note on Monday, October 8th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. ChannelAdvisor has an average rating of Buy and a consensus price target of $17.43.

ChannelAdvisor stock traded down $0.09 during mid-day trading on Wednesday, reaching $11.24. The company’s stock had a trading volume of 46,961 shares, compared to its average volume of 89,275. ChannelAdvisor has a 12-month low of $8.45 and a 12-month high of $15.63. The firm has a market capitalization of $313.00 million, a price-to-earnings ratio of -21.21 and a beta of 0.10. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 0.02.

ChannelAdvisor (NYSE:ECOM) last posted its quarterly earnings data on Thursday, November 8th. The software maker reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.06. The company had revenue of $32.30 million during the quarter, compared to the consensus estimate of $31.64 million. ChannelAdvisor had a negative net margin of 6.64% and a negative return on equity of 10.13%. The firm’s revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.15) EPS. On average, equities research analysts forecast that ChannelAdvisor will post -0.34 EPS for the current year.

In other news, insider M Scot Wingo sold 3,600 shares of the firm’s stock in a transaction dated Tuesday, December 4th. The shares were sold at an average price of $10.64, for a total value of $38,304.00. Following the completion of the sale, the insider now owns 644,607 shares in the company, valued at approximately $6,858,618.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 7.80% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of ECOM. BlackRock Inc. boosted its stake in ChannelAdvisor by 0.6% in the 3rd quarter. BlackRock Inc. now owns 1,705,886 shares of the software maker’s stock worth $21,238,000 after purchasing an additional 9,334 shares in the last quarter. Vanguard Group Inc grew its holdings in shares of ChannelAdvisor by 3.5% during the third quarter. Vanguard Group Inc now owns 1,206,443 shares of the software maker’s stock worth $15,019,000 after buying an additional 40,794 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of ChannelAdvisor by 3.5% during the third quarter. Vanguard Group Inc. now owns 1,206,443 shares of the software maker’s stock worth $15,019,000 after buying an additional 40,794 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of ChannelAdvisor by 42.3% during the 3rd quarter. Renaissance Technologies LLC now owns 375,659 shares of the software maker’s stock valued at $4,677,000 after acquiring an additional 111,659 shares during the last quarter. Finally, Northern Trust Corp boosted its position in shares of ChannelAdvisor by 2.1% during the 2nd quarter. Northern Trust Corp now owns 320,067 shares of the software maker’s stock valued at $4,497,000 after acquiring an additional 6,441 shares during the last quarter. 74.60% 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.

See Also: NASDAQ

Get a free copy of the Zacks research report on ChannelAdvisor (ECOM)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for ChannelAdvisor (NYSE:ECOM)

Receive News & Ratings for ChannelAdvisor Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ChannelAdvisor and related companies with MarketBeat.com's FREE daily email newsletter.