B.Riley FBR analyst Zach Cummins reiterated a Buy rating on ChannelAdvisor (ECOM) today and set a price target of $16.00. The company’s shares closed last Thursday at $11.52, close to its 52-week high of $12.04.
According to TipRanks.com, Cummins has currently 0 stars on a ranking scale of 0-5 stars, with an average return of -7.9% and a 39.5% success rate. Cummins covers the Technology sector, focusing on stocks such as ServiceSource International, American Software, and Liveperson.
Currently, the analyst consensus on ChannelAdvisor is a Moderate Buy with an average price target of $14.00, implying a 27.5% upside from current levels. In a report released yesterday, Needham also reiterated a Buy rating on the stock with a $14.00 price target.
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The company has a one-year high of $12.04 and a one-year low of $4.40. Currently, ChannelAdvisor has an average volume of 202.2K.
Based on the recent corporate insider activity of 29 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ECOM in relation to earlier this year.
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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.
