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

Zacks Investment Research cut shares of ChannelAdvisor (NYSE:ECOM) from a buy rating to a hold rating in a report published on Thursday morning, 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. “

ECOM has been the topic of several other research reports. Needham & Company LLC reaffirmed a buy rating and issued a $42.00 target price (down previously from $45.00) on shares of Synaptics in a report on Friday, May 10th. First Analysis cut shares of ChannelAdvisor from a strong-buy rating to an outperform rating and set a $10.02 target price on the stock. in a report on Friday, May 10th. Finally, ValuEngine cut shares of Zumiez from a hold rating to a sell rating in a report on Tuesday, July 2nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $15.76.

Shares of NYSE:ECOM opened at $9.16 on Thursday. The company has a 50 day moving average price of $9.10. The firm has a market capitalization of $255.16 million, a PE ratio of -35.23 and a beta of 0.25. ChannelAdvisor has a fifty-two week low of $8.52 and a fifty-two week high of $15.00. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.16.

ChannelAdvisor (NYSE:ECOM) last issued its earnings results on Thursday, May 9th. The software maker reported $0.04 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.13) by $0.17. The firm had revenue of $31.57 million for the quarter, compared to analysts’ expectations of $31.79 million. ChannelAdvisor had a negative net margin of 5.16% and a negative return on equity of 7.02%. The firm’s revenue was up .4% compared to the same quarter last year. During the same quarter last year, the company earned ($0.02) earnings per share. On average, research analysts predict that ChannelAdvisor will post -0.08 EPS for the current fiscal year.

A number of large investors have recently modified their holdings of the stock. Martingale Asset Management L P acquired a new stake in ChannelAdvisor in the first quarter valued at $1,715,000. Dimensional Fund Advisors LP lifted its holdings in ChannelAdvisor by 161.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 157,236 shares of the software maker’s stock valued at $1,785,000 after acquiring an additional 96,983 shares during the period. Acadian Asset Management LLC lifted its holdings in ChannelAdvisor by 95.3% in the first quarter. Acadian Asset Management LLC now owns 192,578 shares of the software maker’s stock valued at $2,346,000 after acquiring an additional 93,949 shares during the period. Spark Investment Management LLC lifted its holdings in ChannelAdvisor by 67.2% in the first quarter. Spark Investment Management LLC now owns 151,500 shares of the software maker’s stock valued at $1,845,000 after acquiring an additional 60,899 shares during the period. Finally, IndexIQ Advisors LLC acquired a new stake in ChannelAdvisor in the first quarter valued at $570,000. 81.74% of the stock is currently owned by hedge funds and other institutional investors.

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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