Seeking Alpha

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).
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