ChannelAdvisor (NYSE:ECOM – Get Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Monday, Zacks.com reports.
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, Needham & Company LLC reduced their price objective on shares of ChannelAdvisor from $35.00 to $26.00 in a research note on Friday, February 11th.
NYSE ECOM opened at $15.88 on Monday. The firm has a market capitalization of $479.40 million, a PE ratio of 10.59 and a beta of 0.86. The company has a 50 day simple moving average of $19.37. ChannelAdvisor has a 12-month low of $15.60 and a 12-month high of $29.42.
ChannelAdvisor (NYSE:ECOM – Get Rating) last issued its quarterly earnings data on Thursday, February 10th. The software maker reported $0.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.05. ChannelAdvisor had a net margin of 28.15% and a return on equity of 10.97%. The business had revenue of $45.40 million during the quarter, compared to analysts’ expectations of $44.25 million. During the same period in the previous year, the company earned $0.20 earnings per share. ChannelAdvisor’s revenue for the quarter was up 12.7% on a year-over-year basis. As a group, equities research analysts anticipate that ChannelAdvisor will post 0.5 earnings per share for the current fiscal year.
In other news, Director Timothy V. Williams sold 3,320 shares of the business’s stock in a transaction on Thursday, March 3rd. The shares were sold at an average price of $18.13, for a total value of $60,191.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.20% of the stock is currently owned by insiders.
A number of hedge funds have recently made changes to their positions in ECOM. Summit Creek Advisors LLC increased its position in ChannelAdvisor by 42.2% during the third quarter. Summit Creek Advisors LLC now owns 921,786 shares of the software maker’s stock worth $23,257,000 after acquiring an additional 273,447 shares during the period. Bank of New York Mellon Corp increased its position in ChannelAdvisor by 13.1% during the third quarter. Bank of New York Mellon Corp now owns 1,442,984 shares of the software maker’s stock worth $36,407,000 after acquiring an additional 167,523 shares during the period. Royce & Associates LP increased its position in ChannelAdvisor by 57.6% during the fourth quarter. Royce & Associates LP now owns 436,164 shares of the software maker’s stock worth $10,765,000 after acquiring an additional 159,364 shares during the period. Millennium Management LLC increased its holdings in ChannelAdvisor by 142.1% in the 4th quarter. Millennium Management LLC now owns 269,772 shares of the software maker’s stock valued at $6,658,000 after buying an additional 158,360 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its holdings in ChannelAdvisor by 115.1% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 286,403 shares of the software maker’s stock valued at $7,226,000 after buying an additional 153,247 shares during the period. 89.93% of the stock is currently owned by institutional investors and hedge funds.
ChannelAdvisor Company Profile (Get Rating)
ChannelAdvisor Corp. provides software as a service solution. It enables the retailer and branded manufacturer customers to integrate, manage and optimize their merchandise sales across hundreds of online channels. Its customers utilize platform to connect with new and existing sources of demand for their products through channels such as Amazon, eBay, Facebook, Google and Walmart.
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