ChannelAdvisor (NYSE:ECOM) Upgraded to “Buy” by DA Davidson

ChannelAdvisor (NYSE:ECOM) was upgraded by stock analysts at DA Davidson from a “neutral” rating to a “buy” rating in a report issued on Tuesday, February 6th, Marketbeat.com reports. The firm presently has a $12.50 price objective on the software maker’s stock. DA Davidson’s target price points to a potential upside of 42.86% from the stock’s previous close. DA Davidson also issued estimates for ChannelAdvisor’s Q1 2018 earnings at ($0.12) EPS, Q2 2018 earnings at ($0.08) EPS, Q3 2018 earnings at ($0.08) EPS, Q4 2018 earnings at $0.00 EPS and FY2022 earnings at $0.16 EPS.

Other analysts also recently issued reports about the stock. Stifel Nicolaus reiterated a “buy” rating and issued a $13.00 price target on shares of ChannelAdvisor in a research report on Friday, November 3rd. Needham & Company LLC reissued a “buy” rating and set a $18.00 target price on shares of ChannelAdvisor in a research note on Wednesday, November 1st. Dougherty & Co assumed coverage on ChannelAdvisor in a research note on Tuesday, December 19th. They set a “neutral” rating for the company. Zacks Investment Research cut shares of ChannelAdvisor from a “hold” rating to a “sell” rating in a research note on Wednesday, January 3rd. Finally, BidaskClub cut shares of ChannelAdvisor from a “hold” rating to a “sell” rating in a research note on Wednesday, October 25th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $12.38.

ChannelAdvisor (NYSE ECOM) opened at $8.75 on Tuesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.94 and a quick ratio of 1.94. ChannelAdvisor has a 52-week low of $8.30 and a 52-week high of $12.65.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Millennium Management LLC boosted its holdings in shares of ChannelAdvisor by 178.0% in the 4th quarter. Millennium Management LLC now owns 261,848 shares of the software maker’s stock valued at $2,357,000 after buying an additional 167,660 shares during the last quarter. Stone Ridge Asset Management LLC acquired a new stake in shares of ChannelAdvisor in the 4th quarter valued at approximately $184,000. Deutsche Bank AG boosted its holdings in shares of ChannelAdvisor by 28.6% in the 4th quarter. Deutsche Bank AG now owns 68,691 shares of the software maker’s stock valued at $616,000 after buying an additional 15,263 shares during the last quarter. potrero capital research llc boosted its holdings in shares of ChannelAdvisor by 251.5% in the 4th quarter. potrero capital research llc now owns 277,840 shares of the software maker’s stock valued at $2,501,000 after buying an additional 198,798 shares during the last quarter. Finally, ArrowMark Colorado Holdings LLC boosted its holdings in shares of ChannelAdvisor by 4.2% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 4,265,810 shares of the software maker’s stock valued at $38,392,000 after buying an additional 173,491 shares during the last quarter. 71.36% of the stock is owned by institutional investors.

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About ChannelAdvisor

Channeladvisor Corporation is a provider of Software as a service (SaaS) solutions. The Company’s SaaS solutions enable retailer and branded manufacturer customers to integrate, manage and optimize their merchandise sales via hundreds of online channels. The Company’s platform enable its customers to connect with new and existing sources of demand for their products, including e-commerce marketplaces, such as Amazon, eBay, Jet.com, Newegg, Sears and Walmart, search engines and comparison shopping Websites, such as Google, Microsoft’s Bing and Nextag, and social channels, such as Facebook, Instagram and Pinterest.

Analyst Recommendations for ChannelAdvisor (NYSE:ECOM)

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