Zacks Investment Research Lowers ChannelAdvisor (NYSE:ECOM) to Hold

ChannelAdvisor (NYSE:ECOM) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Friday, 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. “

Several other equities research analysts also recently issued reports on ECOM. Robert W. Baird restated a “hold” rating and set a $12.00 price objective on shares of ChannelAdvisor in a research report on Wednesday. B. Riley raised their price objective on shares of ChannelAdvisor from $12.00 to $14.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, First Analysis restated a “buy” rating and set a $11.00 price objective on shares of ChannelAdvisor in a research report on Sunday, January 5th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. ChannelAdvisor has a consensus rating of “Buy” and a consensus price target of $12.00.

ECOM stock traded down $0.53 during mid-day trading on Friday, hitting $10.82. 219,676 shares of the company were exchanged, compared to its average volume of 105,557. The business has a 50 day simple moving average of $9.60 and a 200-day simple moving average of $9.28. The company has a current ratio of 2.02, a quick ratio of 2.02 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $314.40 million, a PE ratio of -216.36 and a beta of 0.05. ChannelAdvisor has a 1-year low of $8.01 and a 1-year high of $13.83.

ChannelAdvisor (NYSE:ECOM) last issued its quarterly earnings data on Wednesday, February 12th. The software maker reported $0.19 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.19. The firm had revenue of $34.78 million during the quarter, compared to the consensus estimate of $34.32 million. ChannelAdvisor had a negative net margin of 1.02% and a positive return on equity of 0.25%. The business’s revenue for the quarter was up .0% compared to the same quarter last year. During the same period last year, the business posted $0.13 earnings per share. Equities research analysts expect that ChannelAdvisor will post 0.08 earnings per share for the current year.

In other news, Director M Scot Wingo sold 20,000 shares of ChannelAdvisor stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $9.06, for a total value of $181,200.00. Following the completion of the sale, the director now directly owns 537,115 shares in the company, valued at $4,866,261.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 8.10% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its position in ChannelAdvisor by 289.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,028 shares of the software maker’s stock valued at $27,000 after purchasing an additional 2,251 shares in the last quarter. Bank of Montreal Can raised its position in ChannelAdvisor by 32.1% during the fourth quarter. Bank of Montreal Can now owns 4,345 shares of the software maker’s stock valued at $39,000 after purchasing an additional 1,057 shares in the last quarter. Meeder Asset Management Inc. raised its position in ChannelAdvisor by 316.6% during the third quarter. Meeder Asset Management Inc. now owns 4,712 shares of the software maker’s stock valued at $43,000 after purchasing an additional 3,581 shares in the last quarter. Jefferies Group LLC acquired a new position in ChannelAdvisor during the fourth quarter valued at approximately $100,000. Finally, State of Tennessee Treasury Department acquired a new position in ChannelAdvisor during the third quarter valued at approximately $115,000. Institutional investors own 82.56% of the company’s stock.

ChannelAdvisor Company Profile

ChannelAdvisor Corporation provides software-as-a-service solutions in the United States and internationally. Its e-commerce cloud platform helps brands and retailers 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.

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