ChannelAdvisor (NYSE:ECOM) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of ChannelAdvisor (NYSE:ECOM) from a hold rating to a buy rating in a report released on Friday, Zacks.com reports. The brokerage currently has $10.00 price target on the software maker’s stock.

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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 analysts have also weighed in on the stock. B. Riley set a $12.00 price objective on shares of ChannelAdvisor and gave the stock a buy rating in a research note on Friday, September 13th. ValuEngine raised shares of ChannelAdvisor from a sell rating to a hold rating in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $11.01.

NYSE:ECOM traded up $0.13 during mid-day trading on Friday, reaching $9.47. The company’s stock had a trading volume of 54,095 shares, compared to its average volume of 96,257. ChannelAdvisor has a 1 year low of $8.01 and a 1 year high of $13.83. The stock has a fifty day moving average of $9.26 and a 200-day moving average of $9.43. The firm has a market capitalization of $273.98 million, a PE ratio of -36.42 and a beta of 0.41. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.13.

ChannelAdvisor (NYSE:ECOM) last released its quarterly earnings data on Thursday, August 8th. The software maker reported ($0.05) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.08) by $0.03. ChannelAdvisor had a negative net margin of 4.09% and a negative return on equity of 5.35%. The company had revenue of $31.93 million during the quarter, compared to analyst estimates of $31.71 million. During the same period in the prior year, the firm earned ($0.10) earnings per share. The firm’s revenue for the quarter was down 2.2% compared to the same quarter last year. On average, analysts expect that ChannelAdvisor will post 0.04 earnings per share for the current year.

A number of institutional investors have recently made changes to their positions in ECOM. Bessemer Group Inc. raised its holdings in ChannelAdvisor by 10.8% in the second quarter. Bessemer Group Inc. now owns 96,600 shares of the software maker’s stock worth $846,000 after purchasing an additional 9,400 shares in the last quarter. Strs Ohio raised its holdings in ChannelAdvisor by 7.5% in the second quarter. Strs Ohio now owns 52,800 shares of the software maker’s stock worth $462,000 after purchasing an additional 3,700 shares in the last quarter. Swiss National Bank raised its holdings in ChannelAdvisor by 11.3% in the second quarter. Swiss National Bank now owns 48,300 shares of the software maker’s stock worth $423,000 after purchasing an additional 4,900 shares in the last quarter. Stone Ridge Asset Management LLC raised its holdings in ChannelAdvisor by 7.4% in the second quarter. Stone Ridge Asset Management LLC now owns 26,156 shares of the software maker’s stock worth $229,000 after purchasing an additional 1,800 shares in the last quarter. Finally, Wells Fargo & Company MN raised its holdings in ChannelAdvisor by 12.0% in the second quarter. Wells Fargo & Company MN now owns 46,222 shares of the software maker’s stock worth $404,000 after purchasing an additional 4,946 shares in the last quarter. Institutional investors and hedge funds own 81.17% 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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