ChannelAdvisor (NYSE:ECOM) Upgraded by William Blair to “Outperform”

William Blair upgraded shares of ChannelAdvisor (NYSE:ECOM) from a market perform rating to an outperform rating in a report issued on Friday morning, AR Network reports. William Blair currently has $16.72 target price on the software maker’s stock.

Several other brokerages also recently commented on ECOM. Needham & Company LLC raised their price objective on shares of ChannelAdvisor from $16.00 to $21.00 and gave the stock a buy rating in a research report on Friday, July 24th. TheStreet raised shares of ChannelAdvisor from a c+ rating to a b rating in a research report on Friday, August 7th. Zacks Investment Research downgraded shares of ChannelAdvisor from a buy rating to a sell rating in a research report on Tuesday, October 6th. B. Riley raised their price objective on shares of ChannelAdvisor from $18.00 to $25.50 in a research report on Tuesday, August 4th. Finally, Robert W. Baird raised their price objective on shares of ChannelAdvisor from $18.00 to $20.00 in a research report on Friday, August 7th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of Buy and a consensus price target of $19.37.

ChannelAdvisor stock opened at $17.30 on Friday. ChannelAdvisor has a 52-week low of $4.39 and a 52-week high of $22.32. The firm has a 50 day moving average price of $15.20 and a two-hundred day moving average price of $14.23. The firm has a market cap of $490.71 million, a price-to-earnings ratio of 30.89 and a beta of 1.02.

ChannelAdvisor (NYSE:ECOM) last released its quarterly earnings results on Thursday, August 6th. The software maker reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.05. The firm had revenue of $37.44 million during the quarter, compared to analyst estimates of $37.32 million. ChannelAdvisor had a net margin of 11.88% and a return on equity of 17.00%. The company’s revenue was up 17.3% compared to the same quarter last year. During the same quarter last year, the business earned ($0.05) EPS. Equities research analysts expect that ChannelAdvisor will post 0.53 EPS for the current fiscal year.

In related news, Director M Scot Wingo sold 55,000 shares of ChannelAdvisor stock in a transaction on Friday, August 14th. The shares were sold at an average price of $17.01, for a total value of $935,550.00. Also, CEO David J. Spitz sold 75,000 shares of the firm’s stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $16.94, for a total value of $1,270,500.00. Following the transaction, the chief executive officer now owns 483,560 shares in the company, valued at $8,191,506.40. The disclosure for this sale can be found here. In the last three months, insiders sold 303,216 shares of company stock valued at $4,734,732. 8.10% of the stock is currently owned by insiders.

A number of large investors have recently modified their holdings of ECOM. Goldman Sachs Group Inc. lifted its stake in ChannelAdvisor by 247.0% during the 2nd quarter. Goldman Sachs Group Inc. now owns 324,555 shares of the software maker’s stock valued at $5,141,000 after acquiring an additional 231,025 shares in the last quarter. ClariVest Asset Management LLC bought a new position in ChannelAdvisor during the 2nd quarter valued at $3,473,000. Prudential Financial Inc. lifted its stake in ChannelAdvisor by 1,358.8% during the 2nd quarter. Prudential Financial Inc. now owns 218,847 shares of the software maker’s stock valued at $3,466,000 after acquiring an additional 203,845 shares in the last quarter. AJO LP lifted its stake in ChannelAdvisor by 2,734.0% during the 2nd quarter. AJO LP now owns 186,760 shares of the software maker’s stock valued at $2,958,000 after acquiring an additional 180,170 shares in the last quarter. Finally, Nuveen Asset Management LLC lifted its stake in ChannelAdvisor by 84.3% during the 2nd quarter. Nuveen Asset Management LLC now owns 379,003 shares of the software maker’s stock valued at $6,003,000 after acquiring an additional 173,364 shares in the last quarter. Institutional investors and hedge funds own 86.26% 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 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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Analyst Recommendations for ChannelAdvisor (NYSE:ECOM)

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