Zacks Investment Research Downgrades BigCommerce (NASDAQ:BIGC) to Hold

Zacks Investment Research downgraded shares of BigCommerce (NASDAQ:BIGCGet Rating) from a buy rating to a hold rating in a research report report published on Thursday morning, Zacks.com reports.

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. “

Several other brokerages also recently issued reports on BIGC. Berenberg Bank assumed coverage on BigCommerce in a research report on Tuesday, March 15th. They issued a hold rating and a $21.00 price target on the stock. Canaccord Genuity Group lowered their price target on BigCommerce from $32.00 to $29.00 in a research report on Tuesday. Wedbush lowered their price target on BigCommerce from $45.00 to $30.00 and set an outperform rating on the stock in a research report on Tuesday, March 1st. Canaccord Genuity Group lowered their price target on BigCommerce from $70.00 to $32.00 and set a buy rating on the stock in a research report on Tuesday, March 1st. Finally, Stifel Nicolaus lowered their price target on BigCommerce from $50.00 to $35.00 and set a buy rating on the stock in a research report on Monday, March 21st. Eight analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of Buy and a consensus price target of $36.12.

NASDAQ BIGC opened at $18.91 on Thursday. BigCommerce has a fifty-two week low of $16.80 and a fifty-two week high of $72.20. The stock’s 50-day moving average is $20.56 and its two-hundred day moving average is $32.45. The company has a debt-to-equity ratio of 2.43, a quick ratio of 7.24 and a current ratio of 7.24.

BigCommerce (NASDAQ:BIGCGet Rating) last posted its earnings results on Monday, May 2nd. The company reported ($0.18) earnings per share for the quarter, beating the consensus estimate of ($0.26) by $0.08. BigCommerce had a negative return on equity of 37.46% and a negative net margin of 43.96%. During the same quarter last year, the company earned ($0.12) EPS. On average, equities research analysts expect that BigCommerce will post -1.07 EPS for the current fiscal year.

In related news, insider Russell Scott Klein sold 2,500 shares of the company’s stock in a transaction 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jeffrey Gordon Richards sold 32,000 shares of the company’s stock in a transaction on Monday, March 7th. The stock was sold at an average price of $20.99, for a total transaction of $671,680.00. The disclosure for this sale can be found here. Insiders sold a total of 214,149 shares of company stock valued at $4,417,437 in the last three months. 31.70% of the stock is owned by company insiders.

A number of large investors have recently modified their holdings of the business. Royce & Associates LP bought a new stake in BigCommerce during the 1st quarter worth about $355,000. New York State Common Retirement Fund raised its holdings in shares of BigCommerce by 7.3% in the 1st quarter. New York State Common Retirement Fund now owns 295,192 shares of the company’s stock valued at $6,468,000 after purchasing an additional 20,150 shares during the period. Advisor Group Holdings Inc. raised its holdings in shares of BigCommerce by 55.6% in the 1st quarter. Advisor Group Holdings Inc. now owns 16,229 shares of the company’s stock valued at $463,000 after purchasing an additional 5,796 shares during the period. FDx Advisors Inc. raised its holdings in shares of BigCommerce by 63.4% in the 1st quarter. FDx Advisors Inc. now owns 10,063 shares of the company’s stock valued at $220,000 after purchasing an additional 3,906 shares during the period. Finally, SG Americas Securities LLC bought a new stake in shares of BigCommerce in the 1st quarter valued at about $351,000. 77.98% of the stock is currently owned by hedge funds and other institutional investors.

BigCommerce Company Profile (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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