Zacks Investment Research upgraded shares of CommerceHub, Inc. (NASDAQ:CHUBA) from a hold rating to a buy rating in a report issued on Tuesday morning. Zacks Investment Research currently has $24.00 price target on the technology company’s stock.
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. “
CHUBA has been the subject of a number of other reports. First Analysis initiated coverage on shares of CommerceHub in a research note on Friday, August 25th. They set an overweight rating and a $25.00 price objective for the company. DA Davidson initiated coverage on shares of CommerceHub in a research note on Friday, September 22nd. They set a buy rating and a $27.00 price objective for the company. Dougherty & Co initiated coverage on shares of CommerceHub in a research note on Tuesday, October 31st. They set a buy rating and a $27.00 price objective for the company. Finally, Wedbush reissued an outperform rating and set a $26.00 price objective (up from $22.00) on shares of CommerceHub in a research note on Monday, October 2nd. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $25.80.
CommerceHub (NASDAQ:CHUBA) traded up $0.31 during mid-day trading on Tuesday, hitting $22.32. 89,325 shares of the stock were exchanged, compared to its average volume of 88,223. CommerceHub has a 52 week low of $13.74 and a 52 week high of $24.53. The firm has a market cap of $911.40 and a P/E ratio of 71.10.
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Several hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC acquired a new position in shares of CommerceHub during the 2nd quarter valued at $28,465,000. Vaughan Nelson Investment Management L.P. acquired a new position in shares of CommerceHub during the 2nd quarter valued at $18,142,000. Vanguard Group Inc. acquired a new position in shares of CommerceHub during the 2nd quarter valued at $18,087,000. Pembroke Management LTD lifted its holdings in shares of CommerceHub by 2.6% during the 3rd quarter. Pembroke Management LTD now owns 911,782 shares of the technology company’s stock valued at $20,579,000 after acquiring an additional 23,100 shares in the last quarter. Finally, Neuberger Berman Group LLC acquired a new position in shares of CommerceHub during the 3rd quarter valued at $11,072,000. 25.70% of the stock is owned by institutional investors.
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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