In a report issued on July 24, Zach Cummins from B.Riley FBR reiterated a Buy rating on ChannelAdvisor (ECOM), with a price target of $18.00. The company’s shares closed last Friday at $19.52, close to its 52-week high of $22.00.
According to TipRanks.com, Cummins is a 4-star analyst with an average return of 12.3% and a 44.2% success rate. Cummins covers the Technology sector, focusing on stocks such as ServiceSource International, American Software, and Shotspotter.
Currently, the analyst consensus on ChannelAdvisor is a Moderate Buy with an average price target of $19.00, a 6.4% upside from current levels. In a report issued on July 24, Needham also reiterated a Buy rating on the stock with a $21.00 price target.
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ChannelAdvisor’s market cap is currently $553.7M and has a P/E ratio of 72.30. The company has a Price to Book ratio of 7.05.
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ChannelAdvisor Corp. provides software as a service solution that enables the retailer and branded manufacturer customers to integrate, manage and optimize their merchandise sales across hundreds of online channels. Its customers utilize platform to connect with new and existing sources of demand for their products through channels such as Amazon, eBay, Facebook, Google and Walmart. The firm also offers solutions that allow brands to send their web visitors or digital marketing audiences directly to authorize resellers and to gain insight into consumer behaviour. The company was founded by M. Scot Wingo and Aris Antanas Buinevicius in June 2001 and is headquartered in Morrisville, NC.
