Amber Road Inc. (NYSE: AMBR) has not had a great year, down over half from the start of 2015 and down almost 75% from its 52-week high. Now the company announced on Thursday that its global trade management solutions tool has been selected by Amway.
By landing Amway, Amber Road will score the number one direct sales channel in America for its Supply Chain Visibility tool for monitoring and processing air and ocean shipments and to improve its supply chain data reliability.
Amway may be privately held, but it has $10.8 billion in direct sales of consumer products. Amway’s global footprint is currently over 100 countries and territories, and the company claims some 20,000 employees and still claims millions of Amway direct sales representatives.
Amber Road did not disclose the size of this contract, but landing a name this big was enough to drive shares on the news. The stock opened at $4.69 on Thursday after closing at $4.65 on Wednesday, but the low was $4.57 and then shares went up 1% so far on the day at $4.70.
Amber Road is still losing money from operations and is expected to for 2015 and for 2016. Its revenues were $64.8 million in 2014, and the consensus estimates from Thomson Reuters are for revenues to be $69 million in 2015 and almost $80 million in 2016.
Amber Road still has a consensus target price of $11.33 from a handful of analysts and has a 52-week range of $4.04 to $18.09.
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