ChannelAdvisor (NYSE:ECOM) Rating Lowered to Hold at Zacks Investment Research

ChannelAdvisor (NYSE:ECOM) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report issued on Wednesday, 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. B. Riley set a $12.00 price objective on ChannelAdvisor and gave the company a “buy” rating in a research note on Friday, September 13th. ValuEngine upgraded ChannelAdvisor from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $11.01.

ChannelAdvisor stock traded down $0.09 during midday trading on Wednesday, reaching $8.99. 38,400 shares of the stock traded hands, compared to its average volume of 99,185. The company has a 50-day simple moving average of $9.21 and a two-hundred day simple moving average of $9.83. ChannelAdvisor has a 12-month low of $8.01 and a 12-month high of $13.83. The firm has a market cap of $256.87 million, a PE ratio of -34.58 and a beta of 0.38. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.13.

ChannelAdvisor (NYSE:ECOM) last announced its earnings results on Thursday, August 8th. The software maker reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.03. ChannelAdvisor had a negative return on equity of 5.35% and a negative net margin of 4.09%. The company had revenue of $31.93 million during the quarter, compared to analysts’ expectations of $31.71 million. During the same period last year, the business posted ($0.10) EPS. ChannelAdvisor’s revenue for the quarter was down 2.2% on a year-over-year basis. Equities research analysts anticipate that ChannelAdvisor will post 0.04 earnings per share for the current year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Needham Investment Management LLC acquired a new position in ChannelAdvisor during the second quarter worth approximately $832,000. Marshall Wace LLP acquired a new position in ChannelAdvisor during the second quarter worth approximately $602,000. AQR Capital Management LLC increased its position in ChannelAdvisor by 189.2% during the second quarter. AQR Capital Management LLC now owns 230,103 shares of the software maker’s stock worth $2,016,000 after buying an additional 150,531 shares during the period. Algert Global LLC acquired a new position in ChannelAdvisor during the second quarter worth approximately $187,000. Finally, Vanguard Group Inc. increased its position in ChannelAdvisor by 8.9% during the second quarter. Vanguard Group Inc. now owns 1,404,036 shares of the software maker’s stock worth $12,300,000 after buying an additional 115,238 shares during the period. 81.37% of the stock is currently owned by institutional investors.

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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