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

Zacks Investment Research downgraded shares of ChannelAdvisor (NYSE:ECOM) from a buy rating to a hold rating in a research note issued to investors 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. “

A number of other brokerages also recently commented on ECOM. Needham & Company LLC reiterated a buy rating and issued a $42.00 target price (down from $45.00) on shares of Synaptics in a report on Friday, May 10th. First Analysis downgraded shares of ChannelAdvisor from a strong-buy rating to an outperform rating and set a $10.02 target price for the company. in a report on Friday, May 10th. Finally, ValuEngine downgraded shares of Zumiez from a hold rating to a sell rating in a report on Tuesday, July 2nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. The company presently has an average rating of Hold and an average price target of $15.76.

Shares of ECOM opened at $9.16 on Thursday. The stock has a market capitalization of $255.16 million, a price-to-earnings ratio of -35.23 and a beta of 0.25. ChannelAdvisor has a 12-month low of $8.52 and a 12-month high of $15.00. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.92 and a quick ratio of 1.92. The company’s fifty day moving average is $9.10.

ChannelAdvisor (NYSE:ECOM) last issued its earnings results on Thursday, May 9th. The software maker reported $0.04 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.13) by $0.17. The firm had revenue of $31.57 million during the quarter, compared to analyst estimates of $31.79 million. ChannelAdvisor had a negative net margin of 5.16% and a negative return on equity of 7.02%. The business’s revenue was up .4% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.02) earnings per share. As a group, equities analysts forecast that ChannelAdvisor will post -0.08 EPS for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the company. Legal & General Group Plc increased its holdings in ChannelAdvisor by 44.9% in the 4th quarter. Legal & General Group Plc now owns 5,349 shares of the software maker’s stock worth $61,000 after buying an additional 1,658 shares during the period. BNP Paribas Arbitrage SA increased its holdings in ChannelAdvisor by 77,442.9% in the 1st quarter. BNP Paribas Arbitrage SA now owns 5,428 shares of the software maker’s stock worth $66,000 after buying an additional 5,421 shares during the period. Metropolitan Life Insurance Co. NY increased its holdings in ChannelAdvisor by 404.2% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 8,859 shares of the software maker’s stock worth $101,000 after buying an additional 7,102 shares during the period. Bank of America Corp DE increased its holdings in ChannelAdvisor by 74.1% in the 4th quarter. Bank of America Corp DE now owns 22,553 shares of the software maker’s stock worth $256,000 after buying an additional 9,598 shares during the period. Finally, American Century Companies Inc. purchased a new stake in ChannelAdvisor in the 4th quarter worth approximately $256,000. Hedge funds and other institutional investors own 81.74% of the company’s stock.

About ChannelAdvisor

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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