RTTNews | Sep 17, 2021 10:39AM EDT

10:39 Friday, September 17, 2021 (RTTNews.com) - Shares of cloud-based e-commerce solutions provider ChannelAdvisor Corporation (ECOM) are up more than 6% Friday morning after the company announced its long term financial targets and share buyback program.

ChannelAdvisor expects revenue of at least $250 million and adjusted EBITDA of minimum $50 million for its year ending December 31, 2025.

For the year 2020, the company had posted revenue of 145.1 million, up 12% year-over-year.

The company's Board authorized a share buyback of up to $25 million through August 2022.

Share purchases will be executed opportunistically, with the aim of maximizing return on investment, the company said.

ECOM touched a new high of $29.28, before slipping to trade at $28.59 currently.

Read the original article on RTTNews ( https://www.rttnews.com/3226599/channeladvisor-rises-6-on-share-buyback.aspx)

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com All Rights Reserved