BigCommerce (NASDAQ:BIGC) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of BigCommerce (NASDAQ:BIGCGet Rating) from a sell rating to a buy rating in a research note released on Tuesday morning, Zacks.com reports. Zacks Investment Research currently has $21.00 target price on the stock.

According to Zacks, “BigCommerce Holdings Inc. provides software-as-a-service ecommerce platform. It operates principally in San Francisco, Sydney and London. BigCommerce Holdings Inc. is headquartered in Austin. “

BIGC has been the topic of a number of other reports. Stifel Nicolaus reduced their target price on shares of BigCommerce from $50.00 to $35.00 and set a buy rating on the stock in a research note on Monday, March 21st. Wedbush reduced their target price on shares of BigCommerce from $45.00 to $30.00 and set an outperform rating on the stock in a research note on Tuesday, March 1st. Truist Financial reduced their target price on shares of BigCommerce from $90.00 to $50.00 and set a buy rating on the stock in a research note on Tuesday, March 1st. Piper Sandler reduced their target price on shares of BigCommerce from $40.00 to $32.00 and set an overweight rating on the stock in a research note on Monday, April 25th. Finally, Bank of America dropped their price target on shares of BigCommerce from $60.00 to $50.00 and set a buy rating for the company in a research report on Tuesday, March 1st. Seven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Buy and an average price target of $36.12.

NASDAQ:BIGC opened at $20.14 on Tuesday. The company’s 50-day moving average price is $20.77 and its 200-day moving average price is $32.94. The company has a current ratio of 7.24, a quick ratio of 7.24 and a debt-to-equity ratio of 2.43. The company has a market cap of $1.46 billion, a P/E ratio of -18.82 and a beta of 0.90. BigCommerce has a twelve month low of $16.80 and a twelve month high of $72.20.

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

In related news, insider Russell Scott Klein sold 2,500 shares of BigCommerce stock in a transaction that occurred on Tuesday, February 15th. The shares were sold at an average price of $30.75, for a total value of $76,875.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Robert Alvarez sold 50,000 shares of BigCommerce stock in a transaction that occurred on Friday, April 1st. The stock was sold at an average price of $22.09, for a total transaction of $1,104,500.00. Following the completion of the transaction, the chief financial officer now owns 183,497 shares of the company’s stock, valued at approximately $4,053,448.73. 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 quarter. 12.47% of the stock is owned by insiders.

Several large investors have recently modified their holdings of BIGC. Wells Fargo & Company MN lifted its position in shares of BigCommerce by 21.3% during the 2nd quarter. Wells Fargo & Company MN now owns 18,966 shares of the company’s stock worth $1,231,000 after buying an additional 3,325 shares during the last quarter. Morgan Stanley raised its position in BigCommerce by 69.4% in the 2nd quarter. Morgan Stanley now owns 337,579 shares of the company’s stock valued at $21,916,000 after purchasing an additional 138,319 shares during the last quarter. SG Americas Securities LLC purchased a new stake in BigCommerce in the 3rd quarter valued at $559,000. Deutsche Bank AG raised its position in BigCommerce by 19.6% in the 3rd quarter. Deutsche Bank AG now owns 38,804 shares of the company’s stock valued at $1,964,000 after purchasing an additional 6,372 shares during the last quarter. Finally, Advisor Group Holdings Inc. raised its position in BigCommerce by 1.8% in the 3rd quarter. Advisor Group Holdings Inc. now owns 17,943 shares of the company’s stock valued at $908,000 after purchasing an additional 313 shares during the last quarter. Institutional investors and hedge funds 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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