ChannelAdvisor Corp (ECOM) is Resumed by Needham to Buy, Price Target at $16

ChannelAdvisor Corp (ECOM) was Resumed by Needham to “Buy” and the brokerage firm has set the Price Target at $16. Needham advised their investors in a research report released on Sep 23, 2016.

On the company’s financial health, ChannelAdvisor Corp reported $-0.11 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $-0.14. The company had revenue of $27.10 million for the quarter, compared to analysts expectations of $26.99 million. The company’s revenue was up 12.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.10 EPS.

ChannelAdvisor Corp opened for trading at $12.4 and hit $12.58 on the upside on Thursday, eventually ending the session at $12.56, with a gain of 2.03% or 0.25 points. The heightened volatility saw the trading volume jump to 89,346 shares. Company has a market cap of $323 M.

In a different news, on Aug 25, 2016, David J Spitz (CEO) purchased 10,000 shares at $12.77 per share price. According to the SEC, on Aug 24, 2016, Mark Cook (CFO) purchased 10,000 shares at $12.26 per share price. On Aug 23, 2016, M Scot Wingo (Executive Chairman) sold 60,000 shares at $12.19 per share price, according to the Form-4 filing with the securities and exchange commission.

ChannelAdvisor Corporation is a provider of Software as a Service (SaaS) solutions. The Company’s SaaS solutions enable its retailer and manufacturer customers to integrate and manage their merchandise sales across various online channels. Through its platform the Company enables its customers to connect with various sources of demand for their products including e-commerce marketplaces such as eBay Amazon Newegg and Sears search engines and comparison shopping Websites such as Google Microsoft’s Bing and Nextag and other channels such as Facebook and Pinterest. The Company’s suite of solutions provides its customers with an integrated user interface to manage their product listings inventory availability pricing optimization search terms data analytics and other functions across the channels. The Company’s suite of solutions includes various modules such as Marketplaces Digital Marketing Where to Buy Webstores Amplifier and Rich Media.

ChannelAdvisor Corp

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