ChannelAdvisor (ECOM) Given a $31.00 Price Target at B. Riley

B. Riley set a $31.00 target price on ChannelAdvisor (NYSE:ECOM) in a report published on Tuesday morning. The brokerage currently has a buy rating on the software maker’s stock.

A number of other brokerages also recently weighed in on ECOM. Zacks Investment Research downgraded shares of ChannelAdvisor from a strong-buy rating to a hold rating in a research note on Wednesday, October 10th. ValuEngine downgraded shares of ChannelAdvisor from a buy rating to a hold rating in a research note on Thursday, August 23rd. Finally, Needham & Company LLC raised their target price on shares of ChannelAdvisor from $17.00 to $18.00 and gave the company a buy rating in a research note on Friday, August 10th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. ChannelAdvisor presently has an average rating of Buy and an average target price of $17.71.

Shares of ChannelAdvisor stock traded down $0.15 on Tuesday, reaching $11.38. The stock had a trading volume of 300 shares, compared to its average volume of 66,944. ChannelAdvisor has a 1 year low of $8.30 and a 1 year high of $15.63. The company has a market cap of $315.66 million, a price-to-earnings ratio of -21.64 and a beta of 0.32. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.02.

ChannelAdvisor (NYSE:ECOM) last announced its quarterly earnings results on Thursday, November 8th. The software maker reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.06. ChannelAdvisor had a negative net margin of 8.13% and a negative return on equity of 12.48%. The firm had revenue of $32.30 million for the quarter, compared to the consensus estimate of $31.64 million. During the same period in the prior year, the firm posted ($0.15) earnings per share. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. On average, sell-side analysts predict that ChannelAdvisor will post -0.34 earnings per share for the current year.

In other ChannelAdvisor news, insider M Scot Wingo sold 47,692 shares of the stock in a transaction that occurred on Wednesday, August 29th. The shares were sold at an average price of $13.02, for a total transaction of $620,949.84. Following the transaction, the insider now directly owns 710,502 shares in the company, valued at $9,250,736.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 60,192 shares of company stock worth $783,478 over the last quarter. Company insiders own 7.80% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of ECOM. Millennium Management LLC grew its position in ChannelAdvisor by 157.0% during the second quarter. Millennium Management LLC now owns 275,386 shares of the software maker’s stock valued at $3,869,000 after acquiring an additional 168,252 shares during the last quarter. BlackRock Inc. grew its position in ChannelAdvisor by 9.3% during the second quarter. BlackRock Inc. now owns 1,696,552 shares of the software maker’s stock valued at $23,837,000 after acquiring an additional 144,646 shares during the last quarter. Acadian Asset Management LLC bought a new position in ChannelAdvisor during the second quarter valued at approximately $1,199,000. JPMorgan Chase & Co. grew its position in ChannelAdvisor by 137.6% during the third quarter. JPMorgan Chase & Co. now owns 132,916 shares of the software maker’s stock valued at $1,655,000 after acquiring an additional 76,980 shares during the last quarter. Finally, EAM Investors LLC bought a new position in ChannelAdvisor during the second quarter valued at approximately $738,000. Institutional investors and hedge funds own 73.28% 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 retailers and branded manufacturers 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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Analyst Recommendations for ChannelAdvisor (NYSE:ECOM)

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