BigCommerce (NASDAQ:BIGC) Given New $29.00 Price Target at Canaccord Genuity Group

BigCommerce (NASDAQ:BIGCGet Rating) had its price objective decreased by analysts at Canaccord Genuity Group from $32.00 to $29.00 in a note issued to investors on Tuesday, The Fly reports. Canaccord Genuity Group’s price target would indicate a potential upside of 54.34% from the stock’s current price.

Other equities analysts have also issued reports about the company. Zacks Investment Research lowered BigCommerce from a “hold” rating to a “sell” rating in a research note on Tuesday, March 8th. Morgan Stanley dropped their target price on BigCommerce from $57.00 to $26.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 1st. Truist Financial dropped their target price on BigCommerce from $90.00 to $50.00 and set a “buy” rating for the company in a research note on Tuesday, March 1st. The Goldman Sachs Group lowered their price target on BigCommerce from $60.00 to $29.00 and set a “buy” rating for the company in a research report on Tuesday, March 1st. Finally, Piper Sandler lowered their price target on BigCommerce from $40.00 to $32.00 and set an “overweight” rating for the company in a research report on Monday, April 25th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $37.06.

NASDAQ BIGC opened at $18.79 on Tuesday. The stock has a market cap of $1.36 billion, a price-to-earnings ratio of -17.56 and a beta of 0.90. The business has a fifty day moving average of $20.83 and a 200-day moving average of $33.16. BigCommerce has a fifty-two week low of $16.80 and a fifty-two week high of $72.20. The company has a quick ratio of 7.24, a current ratio of 7.24 and a debt-to-equity ratio of 2.43.

BigCommerce (NASDAQ:BIGCGet Rating) last released its earnings results on Monday, May 2nd. The company reported ($0.18) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.26) by $0.08. BigCommerce had a negative return on equity of 27.52% and a negative net margin of 34.88%. During the same period last year, the company earned ($0.12) earnings per share. As a group, analysts anticipate that BigCommerce will post -1.05 EPS for the current year.

In related news, CFO Robert Alvarez sold 5,409 shares of the stock in a transaction dated Thursday, March 3rd. The stock was sold at an average price of $21.98, for a total value of $118,889.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Russell Scott Klein sold 2,500 shares of the stock in a transaction dated Tuesday, February 15th. The shares were sold at an average price of $30.75, for a total value of $76,875.00. The disclosure for this sale can be found here. Insiders sold 214,149 shares of company stock valued at $4,417,437 in the last ninety days. Company insiders own 12.47% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in BigCommerce by 32.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,893 shares of the company’s stock valued at $173,000 after buying an additional 1,196 shares in the last quarter. State Board of Administration of Florida Retirement System raised its position in shares of BigCommerce by 90.0% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 22,275 shares of the company’s stock worth $1,128,000 after purchasing an additional 10,550 shares during the period. Dixon Hughes Goodman Wealth Advisors LLC acquired a new stake in shares of BigCommerce during the 4th quarter worth approximately $35,000. FourThought Financial LLC raised its position in shares of BigCommerce by 60.9% during the 3rd quarter. FourThought Financial LLC now owns 1,110 shares of the company’s stock worth $56,000 after purchasing an additional 420 shares during the period. Finally, Cubist Systematic Strategies LLC raised its position in shares of BigCommerce by 66.4% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 17,807 shares of the company’s stock worth $902,000 after purchasing an additional 7,108 shares during the period. Hedge funds and other institutional investors own 77.98% of the company’s stock.

About BigCommerce (Get Rating)

BigCommerce Holdings, Inc operates a software-as-a-service platform for small businesses, mid-markets, and large enterprises in the United States, Europe, the Middle East, Africa, the Asia-Pacific, and internationally. The company's platform provides various services for launching and scaling e-commerce operation, including store design, catalog management, hosting, checkout, order management, reporting, and pre-integrations.

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