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Fly News Breaks for May 11, 2018
ECOM
May 11, 2018 | 09:33 EDT
Needham analyst Scott Berg raised his price target on ChannelAdvisor to $17 and kept his Buy rating after its Q1 results came in better than the pre-announcement. The analyst says that variable revenues outperformed, which indicates that the company's re-pricing module could mitigate the possibility of reduced 1st party sales. Berg adds that the "strong execution" in Q1 appears to have been sustained into early Q1, forecasting a return to a "more consistent double digit revenue growth rate exiting FY18".
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