Needham Gives a Buy Rating to ChannelAdvisor (ECOM)

In a report released today, Ryan MacDonald from Needham assigned a Buy rating to ChannelAdvisor (ECOMResearch Report), with a price target of $22.00. The company’s shares closed last Wednesday at $18.52.

According to, MacDonald is a top 100 analyst with an average return of 46.6% and a 84.5% success rate. MacDonald covers the Technology sector, focusing on stocks such as Coupa Software, Verint Systems, and Veeva Systems.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for ChannelAdvisor with a $20.00 average price target.

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ChannelAdvisor’s market cap is currently $537.1M and has a P/E ratio of 29.30. The company has a Price to Book ratio of 6.18.

Based on the recent corporate insider activity of 37 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling 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.