ChannelAdvisor Corporation (NYSE:ECOM) was upgraded by equities research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research note issued to investors on Wednesday, September 6th.
Several other brokerages also recently commented on ECOM. TheStreet downgraded ChannelAdvisor Corporation from a “c-” rating to a “d+” rating in a report on Monday, June 5th. ValuEngine downgraded ChannelAdvisor Corporation from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. First Analysis downgraded ChannelAdvisor Corporation from an “overweight” rating to an “equal weight” rating in a report on Tuesday, May 9th. Zacks Investment Research downgraded ChannelAdvisor Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, June 14th. Finally, Robert W. Baird reissued a “neutral” rating on shares of ChannelAdvisor Corporation in a report on Monday, July 3rd. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $14.67.
ChannelAdvisor Corporation (NYSE:ECOM) traded down 0.90% during mid-day trading on Wednesday, hitting $11.00. The company had a trading volume of 54,298 shares. The stock’s 50 day moving average price is $10.52 and its 200 day moving average price is $11.13. ChannelAdvisor Corporation has a 52-week low of $9.80 and a 52-week high of $15.85. The firm’s market cap is $290.74 million.
ChannelAdvisor Corporation (NYSE:ECOM) last announced its earnings results on Thursday, August 3rd. The software maker reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.05). The business had revenue of $30.00 million during the quarter, compared to analyst estimates of $28.65 million. ChannelAdvisor Corporation had a negative return on equity of 7.63% and a negative net margin of 7.42%. The firm’s revenue was up 10.7% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.11) earnings per share. On average, equities research analysts predict that ChannelAdvisor Corporation will post ($0.02) EPS for the current fiscal year.
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In other ChannelAdvisor Corporation news, Director Marc Huffman bought 10,000 shares of the company’s stock in a transaction on Thursday, August 10th. The stock was bought at an average price of $10.00 per share, for a total transaction of $100,000.00. Following the transaction, the director now owns 36,411 shares of the company’s stock, valued at approximately $364,110. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider M Scot Wingo sold 15,000 shares of the company’s stock in a transaction on Monday, July 17th. The shares were sold at an average price of $11.09, for a total transaction of $166,350.00. Following the sale, the insider now owns 852,896 shares of the company’s stock, valued at approximately $9,458,616.64. The disclosure for this sale can be found here. Insiders sold a total of 45,000 shares of company stock valued at $496,050 in the last 90 days. 11.30% of the stock is currently owned by corporate insiders.
Several hedge funds have recently made changes to their positions in the company. Shapiro Capital Management LLC grew its holdings in shares of ChannelAdvisor Corporation by 0.6% in the 2nd quarter. Shapiro Capital Management LLC now owns 3,779,475 shares of the software maker’s stock valued at $43,653,000 after buying an additional 22,458 shares during the period. Janus Henderson Group PLC acquired a new position in shares of ChannelAdvisor Corporation in the 2nd quarter valued at $26,368,000. Vanguard Group Inc. grew its holdings in shares of ChannelAdvisor Corporation by 5.8% in the 2nd quarter. Vanguard Group Inc. now owns 1,055,788 shares of the software maker’s stock valued at $12,194,000 after buying an additional 57,863 shares during the period. Disciplined Growth Investors Inc. MN grew its holdings in shares of ChannelAdvisor Corporation by 214.7% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 639,982 shares of the software maker’s stock valued at $7,392,000 after buying an additional 436,618 shares during the period. Finally, Archon Capital Management LLC grew its holdings in shares of ChannelAdvisor Corporation by 42.5% in the 2nd quarter. Archon Capital Management LLC now owns 588,510 shares of the software maker’s stock valued at $6,797,000 after buying an additional 175,467 shares during the period. 81.72% of the stock is owned by institutional investors.
About ChannelAdvisor Corporation
Channeladvisor Corporation is a provider of Software as a service (SaaS) solutions. The Company’s SaaS solutions enable retailer and branded manufacturer customers to integrate, manage and optimize their merchandise sales via hundreds of online channels. The Company’s platform enable its customers to connect with new and existing sources of demand for their products, including e-commerce marketplaces, such as Amazon, eBay, Jet.com, Newegg, Sears and Walmart, search engines and comparison shopping Websites, such as Google, Microsoft’s Bing and Nextag, and social channels, such as Facebook, Instagram and Pinterest.
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