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Fly News Breaks for February 12, 2020
ECOM
Feb 12, 2020 | 17:50 EDT
Baird analyst Colin Sebastian reiterated a Neutral rating and $12 price target on ChannelAdvisor following the company's "decent" fourth quarter results, adding that the guidance suggests a potential return to growth in 2020. Sebastian noted that Q4 results were above consensus expectations, driven by "healthy" underlying growth through key marketplace partners as well as ongoing cost discipline. The analyst added that he is encouraged by signs of progress on key strategic initiatives and the potential for tangible improvement to revenue growth.
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