real-time news and commentary for investors
Monday, Aug 12
ChannelAdvisor surges for third day on Q2 results momentum
- ChannelAdvisor (ECOM +12.2%) closed up on heavy volume for the third consecutive day following its Q2 beat. ECOM is up 41.3% since Q2 results were delivered.
- The company announced earlier today sporting/outdoor goods retailer AltaTac grew its marketplace sales 373% Y/Y using ChannelAdvisor's Marketplaces SaaS product. The story feeds into the positive sentiment the stock has seen since Thursday's results.
- A number of analysts hiked PTs last week: Raymond Jones to $23.50 ($20 previous), BMO Capital to $24 ($21 previous), Stifel to $25 ($22 previous), and Needham to $25 (from $22 previous).