Needham Believes ChannelAdvisor (ECOM) Won’t Stop Here


Needham analyst Ryan MacDonald reiterated a Buy rating on ChannelAdvisor (ECOM) today and set a price target of $16.00. The company’s shares closed last Tuesday at $12.70, close to its 52-week high of $13.17.

According to TipRanks.com, MacDonald is a 5-star analyst with an average return of 25.4% and a 73.6% success rate. MacDonald covers the Technology sector, focusing on stocks such as Verint Systems, Coupa Software, and Liveperson.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for ChannelAdvisor with a $15.00 average price target, a 16.5% upside from current levels. In a report issued on May 7, B.Riley FBR also reiterated a Buy rating on the stock with a $14.00 price target.

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ChannelAdvisor’s market cap is currently $368.8M and has a P/E ratio of 46.60. The company has a Price to Book ratio of 4.55.

Based on the recent corporate insider activity of 30 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.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.

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