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

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

Other equities analysts have also recently issued reports about the stock. ValuEngine raised shares of ChannelAdvisor from a sell rating to a hold rating in a research note on Thursday, August 1st. B. Riley set a $12.00 target price on shares of ChannelAdvisor and gave the company a buy rating in a research note on Friday, September 13th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of Buy and an average target price of $11.01.

ECOM opened at $8.99 on Wednesday. The stock has a market capitalization of $257.99 million, a price-to-earnings ratio of -34.58 and a beta of 0.38. The company has a fifty day moving average of $9.21 and a 200 day moving average of $9.83. ChannelAdvisor has a fifty-two week low of $8.01 and a fifty-two week high of $13.83. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.85 and a current ratio of 1.85.

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

Large investors have recently modified their holdings of the business. Bank of Montreal Can grew its stake in shares of ChannelAdvisor by 236.2% in the 2nd quarter. Bank of Montreal Can now owns 3,180 shares of the software maker’s stock worth $28,000 after buying an additional 2,234 shares in the last quarter. Prudential Financial Inc. purchased a new position in shares of ChannelAdvisor in the 2nd quarter worth $113,000. Menta Capital LLC purchased a new position in shares of ChannelAdvisor in the 2nd quarter worth $157,000. Algert Global LLC purchased a new position in shares of ChannelAdvisor in the 2nd quarter worth $187,000. Finally, Grantham Mayo Van Otterloo & Co. LLC purchased a new position in shares of ChannelAdvisor in the 2nd quarter worth $208,000. 81.37% of the stock is owned by institutional investors and hedge funds.

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.

Featured Article: The mechanics of the bid-ask spread in trading

Get a free copy of the Zacks research report on ChannelAdvisor (ECOM)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for ChannelAdvisor Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ChannelAdvisor and related companies with MarketBeat.com's FREE daily email newsletter.