ChannelAdvisor (NYSE:ECOM) Downgraded by Zacks Investment Research

ChannelAdvisor (NYSE:ECOM) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Thursday, 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 subject of several other research reports. First Analysis downgraded shares of ChannelAdvisor from a “strong-buy” rating to an “outperform” rating and set a $10.02 price objective for the company. in a research note on Friday, May 10th. ValuEngine downgraded shares of Zumiez from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $42.00 price objective (down previously from $45.00) on shares of Synaptics in a research note on Friday, May 10th. 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’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $16.01.

Shares of ChannelAdvisor stock traded down $0.22 on Thursday, reaching $9.18. 58,100 shares of the stock were exchanged, compared to its average volume of 105,611. The firm’s 50 day simple moving average is $9.16. ChannelAdvisor has a one year low of $8.52 and a one year high of $15.50. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.92 and a current ratio of 1.92. The stock has a market cap of $255.62 million, a price-to-earnings ratio of -35.31 and a beta of 0.25.

ChannelAdvisor (NYSE:ECOM) last issued its quarterly earnings results on Thursday, May 9th. The software maker reported $0.04 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.13) by $0.17. The company had revenue of $31.57 million during the quarter, compared to the consensus estimate 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 quarterly revenue was up .4% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.02) EPS. As a group, research analysts predict that ChannelAdvisor will post -0.08 earnings per share for the current fiscal year.

In related news, insider M Scot Wingo sold 5,442 shares of the stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $12.02, for a total value of $65,412.84. Following the completion of the transaction, the insider now owns 583,831 shares of the company’s stock, valued at approximately $7,017,648.62. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 8.10% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in ECOM. Cannell Capital LLC increased its position in ChannelAdvisor by 1,760.7% in the 4th quarter. Cannell Capital LLC now owns 625,156 shares of the software maker’s stock valued at $7,096,000 after acquiring an additional 591,559 shares during the period. Martingale Asset Management L P acquired a new position in ChannelAdvisor in the 1st quarter valued at approximately $1,715,000. Dimensional Fund Advisors LP increased its position in ChannelAdvisor by 161.0% in the 4th 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 increased its position in ChannelAdvisor by 95.3% in the 1st 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. Finally, Spark Investment Management LLC increased its position in ChannelAdvisor by 67.2% in the 1st 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. Hedge funds and other institutional investors own 81.83% 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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