CommerceHub, Inc. (NASDAQ:CHUBA) Rating Increased to Buy at Zacks Investment Research

CommerceHub, Inc. (NASDAQ:CHUBA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Monday, August 7th. The brokerage currently has a $22.00 price objective on the technology company’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 7.16% from the stock’s previous close.

According to Zacks, “CommerceHub, Inc. provides distributed commerce network which connecting supply, demand and delivery for retailers and brands. CommerceHub, Inc. is headquartered in Albany, United States. “

CommerceHub (NASDAQ CHUBA) traded up 1.89% during midday trading on Monday, hitting $20.53. 89,454 shares of the company were exchanged. CommerceHub has a 1-year low of $11.91 and a 1-year high of $21.15. The stock has a market capitalization of $887.90 million and a price-to-earnings ratio of 83.12. The stock has a 50 day moving average of $18.58 and a 200-day moving average of $16.81.

CommerceHub (NASDAQ:CHUBA) last issued its earnings results on Wednesday, August 2nd. The technology company reported $0.05 EPS for the quarter, missing the Zacks’ consensus estimate of $0.08 by $0.03. The business had revenue of $25.21 million during the quarter, compared to analyst estimates of $25.76 million. CommerceHub had a net margin of 10.81% and a return on equity of 36.84%. Equities analysts expect that CommerceHub will post $0.48 earnings per share for the current year.

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Several large investors have recently made changes to their positions in CHUBA. Nationwide Fund Advisors purchased a new stake in shares of CommerceHub during the second quarter worth about $137,000. First Quadrant L P CA purchased a new stake in shares of CommerceHub during the second quarter worth about $154,000. Trexquant Investment LP purchased a new stake in shares of CommerceHub during the second quarter worth about $207,000. Sandia Holdings LLC purchased a new stake in shares of CommerceHub during the second quarter worth about $248,000. Finally, New York State Common Retirement Fund purchased a new stake in shares of CommerceHub during the second quarter worth about $256,000. 80.76% of the stock is owned by hedge funds and other institutional investors.

CommerceHub Company Profile

CommerceHub, Inc is a provider of cloud-based e-commerce fulfillment and marketing solutions that integrate supply, demand and delivery for retailers and consumer brands, manufacturers and distributors. The Company’s end-to-end solutions are provided through the CommerceHub software platform, a hub that streamlines integration and enables transactions among its retailer and supplier customers and their other trading partners, while also enabling them to access the online marketplaces, search engines, social and product advertising and other digital marketing channels where consumers browse and buy.

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