B. Riley Reiterates “$31.00” Price Target for ChannelAdvisor (ECOM)

ChannelAdvisor (NYSE:ECOM) has been given a $31.00 price target by investment analysts at B. Riley in a report released on Tuesday. The brokerage currently has a “buy” rating on the software maker’s stock. B. Riley’s price target points to a potential upside of 167.47% from the stock’s current price.

Several other analysts have also issued reports on ECOM. Zacks Investment Research lowered ChannelAdvisor from a “buy” rating to a “hold” rating in a report on Wednesday, July 11th. Needham & Company LLC increased their target price on ChannelAdvisor from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Friday, August 10th. Finally, ValuEngine raised ChannelAdvisor from a “hold” rating to a “buy” rating in a report on Monday, October 8th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $17.71.

Shares of NYSE ECOM opened at $11.59 on Tuesday. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.83 and a quick ratio of 1.83. ChannelAdvisor has a one year low of $8.30 and a one year high of $15.63.

ChannelAdvisor (NYSE:ECOM) last issued its quarterly earnings data on Thursday, August 9th. The software maker reported ($0.10) EPS for the quarter, meeting analysts’ consensus estimates of ($0.10). ChannelAdvisor had a negative return on equity of 12.48% and a negative net margin of 8.13%. The firm had revenue of $32.66 million for the quarter, compared to analyst estimates of $31.46 million. During the same period in the prior year, the firm posted ($0.15) EPS. The company’s revenue for the quarter was up 8.9% on a year-over-year basis. Equities analysts predict that ChannelAdvisor will post -0.34 earnings per share for the current fiscal year.

In related news, insider M Scot Wingo sold 4,700 shares of the company’s stock in a transaction on Tuesday, October 16th. The stock was sold at an average price of $12.06, for a total transaction of $56,682.00. Following the completion of the sale, the insider now directly owns 648,971 shares in the company, valued at approximately $7,826,590.26. The sale was disclosed in a filing with the SEC, which is available through this link. Over the last three months, insiders have sold 60,192 shares of company stock worth $783,478. 7.80% of the stock is currently owned by insiders.

Hedge funds have recently made changes to their positions in the stock. Russell Investments Group Ltd. lifted its position in shares of ChannelAdvisor by 113.5% during the 1st quarter. Russell Investments Group Ltd. now owns 12,990 shares of the software maker’s stock worth $118,000 after buying an additional 6,905 shares during the last quarter. Engineers Gate Manager LP bought a new stake in shares of ChannelAdvisor during the 2nd quarter worth $166,000. Cubist Systematic Strategies LLC lifted its position in shares of ChannelAdvisor by 51.4% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 14,645 shares of the software maker’s stock worth $206,000 after buying an additional 4,975 shares during the last quarter. Levin Capital Strategies L.P. lifted its position in shares of ChannelAdvisor by 142.7% during the 3rd quarter. Levin Capital Strategies L.P. now owns 25,000 shares of the software maker’s stock worth $311,000 after buying an additional 14,700 shares during the last quarter. Finally, Strs Ohio bought a new stake in shares of ChannelAdvisor during the 2nd quarter worth $331,000. Institutional investors and hedge funds own 73.28% 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 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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