Amber Road (NYSE:AMBR) was downgraded by analysts at Canaccord Genuity from a “buy” rating to a “hold” rating in a research note issued to investors on Friday, February 16th, MarketBeat reports. They currently have a $10.00 price target on the software maker’s stock, up from their prior price target of $9.74. Canaccord Genuity’s price objective indicates a potential upside of 5.49% from the stock’s current price.
Separately, Needham & Company LLC reiterated a “buy” rating and issued a $11.00 target price on shares of Amber Road in a research note on Wednesday, November 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. Amber Road currently has an average rating of “Hold” and an average target price of $11.75.
Shares of Amber Road (AMBR) traded up $0.01 during trading hours on Friday, reaching $9.48. 38,803 shares of the company were exchanged, compared to its average volume of 228,154. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $257.47, a PE ratio of -9.88 and a beta of 0.35. Amber Road has a 1 year low of $6.14 and a 1 year high of $10.29.
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Penbrook Management LLC acquired a new stake in shares of Amber Road during the 4th quarter worth approximately $597,000. Millennium Management LLC lifted its position in shares of Amber Road by 47.6% in the fourth quarter. Millennium Management LLC now owns 43,781 shares of the software maker’s stock worth $321,000 after purchasing an additional 14,114 shares in the last quarter. Cramer Rosenthal Mcglynn LLC lifted its position in shares of Amber Road by 22.6% in the fourth quarter. Cramer Rosenthal Mcglynn LLC now owns 1,246,867 shares of the software maker’s stock worth $9,152,000 after purchasing an additional 230,260 shares in the last quarter. Goldman Sachs Group Inc. bought a new stake in shares of Amber Road in the fourth quarter worth $168,000. Finally, Deutsche Bank AG lifted its position in shares of Amber Road by 80.8% in the fourth quarter. Deutsche Bank AG now owns 151,340 shares of the software maker’s stock worth $1,110,000 after purchasing an additional 67,624 shares in the last quarter. 73.75% of the stock is owned by institutional investors.
About Amber Road
Amber Road, Inc is a provider of cloud-based global trade management (GTM) solutions. The Company’s GTM solutions include modules for logistics contract and rate management, supply chain visibility and event management, international trade compliance, and Global Knowledge trade content database to importers and exporters, non-vessel owning common carriers (resellers), and ocean carriers.
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