Needham & Company Starts ChannelAdvisor (ECOM) at Buy

June 17, 2013 8:27 AM EDT
Get Alerts ECOM Hot Sheet
Price: $14.90 --0%

Rating Summary:
    2 Buy, 8 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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Needham & Company initiates coverage on recent IPO ChannelAdvisor (NYSE: ECOM) with a Buy rating and $22 price target.

Analyst Michael Huang sid, "We believe ChannelAdvisor is a compelling, secular growth story with accelerating trends, a strong and sustainable competitive position, a large addressable Greenfield market opportunity, and a potentially high leverage, increasingly predictable, network effects model."

He added, "With over $3.5 billion of GMV flowing through its platform and with nearly 2000 customers and 100's of online channel partners now integrated into its vast network, ChannelAdvisor is increasingly benefitting from network effects."

For an analyst ratings summary and ratings history on ChannelAdvisor click here. For more ratings news on ChannelAdvisor click here.

Shares of ChannelAdvisor closed at $15.45 yesterday.

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