DA Davidson Cuts CommerceHub (CHUBA) Price Target to $23.00

CommerceHub (NASDAQ:CHUBA) had its target price cut by research analysts at DA Davidson to $23.00 in a research report issued on Friday, March 2nd. The brokerage presently has a “buy” rating on the technology company’s stock. DA Davidson’s target price points to a potential upside of 2.27% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the company. Zacks Investment Research cut CommerceHub from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. CIBC started coverage on CommerceHub in a report on Friday, December 22nd. They issued a “market perform” rating on the stock. Oppenheimer started coverage on CommerceHub in a report on Friday, December 22nd. They issued a “market perform” rating on the stock. BidaskClub cut CommerceHub from a “hold” rating to a “sell” rating in a report on Friday, January 19th. Finally, Northland Securities started coverage on shares of CommerceHub in a research note on Thursday, December 28th. They issued an “outperform” rating and a $28.00 target price on the stock. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $26.17.

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Shares of CommerceHub (CHUBA) traded down $0.07 on Friday, reaching $22.49. The company’s stock had a trading volume of 663,133 shares, compared to its average volume of 431,151. CommerceHub has a 12 month low of $14.94 and a 12 month high of $24.53. The firm has a market cap of $980.60, a P/E ratio of 102.23, a P/E/G ratio of 3.21 and a beta of -0.17.

Hedge funds have recently added to or reduced their stakes in the company. Wells Fargo & Company MN purchased a new stake in shares of CommerceHub during the 2nd quarter valued at approximately $810,000. Goldman Sachs Group Inc. purchased a new stake in shares of CommerceHub during the 2nd quarter valued at approximately $317,000. Mesirow Financial Investment Management Inc. purchased a new stake in shares of CommerceHub during the 4th quarter valued at approximately $495,000. Macquarie Group Ltd. purchased a new stake in shares of CommerceHub during the 3rd quarter valued at approximately $943,000. Finally, Russell Investments Group Ltd. raised its position in shares of CommerceHub by 143.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 132,752 shares of the technology company’s stock valued at $2,996,000 after buying an additional 78,291 shares during the period. 30.24% of the stock is currently owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for CommerceHub (NASDAQ:CHUBA)

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