BigCommerce (NASDAQ:BIGC) PT Lowered to $10.00

BigCommerce (NASDAQ:BIGC) had its price objective cut by equities researchers at Truist Financial from $12.00 to $10.00 in a research note issued on Thursday, Benzinga reports. The firm currently has a “hold” rating on the stock. Truist Financial’s target price suggests a potential upside of 18.76% from the company’s previous close.

A number of other research firms have also recently issued reports on BIGC. UBS Group assumed coverage on shares of BigCommerce in a report on Friday, September 22nd. They issued a “neutral” rating and a $12.00 price target for the company. Piper Sandler increased their price objective on shares of BigCommerce from $9.00 to $11.00 and gave the stock a “neutral” rating in a research note on Monday, August 7th. Needham & Company LLC reiterated a “buy” rating and issued a $20.00 price objective on shares of BigCommerce in a research note on Thursday. Barclays increased their price objective on shares of BigCommerce from $10.00 to $12.00 and gave the stock an “equal weight” rating in a research note on Friday, August 4th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $10.00 price objective on shares of BigCommerce in a research note on Friday, August 4th. Eight equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $11.82.

BigCommerce Trading Up 0.2 %

NASDAQ BIGC opened at $8.42 on Thursday. The company has a fifty day simple moving average of $9.77 and a two-hundred day simple moving average of $9.48. The stock has a market cap of $632.34 million, a P/E ratio of -6.63 and a beta of 0.82. BigCommerce has a 12-month low of $6.81 and a 12-month high of $13.39. The company has a current ratio of 4.06, a quick ratio of 4.06 and a debt-to-equity ratio of 12.59.

BigCommerce (NASDAQ:BIGC) last posted its quarterly earnings results on Wednesday, November 8th. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.04. The business had revenue of $78.05 million during the quarter, compared to analysts’ expectations of $78.12 million. BigCommerce had a negative net margin of 31.74% and a negative return on equity of 166.44%. The business’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter last year, the company posted ($0.30) earnings per share. On average, analysts forecast that BigCommerce will post -0.67 earnings per share for the current year.

Institutional Trading of BigCommerce

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BIGC. American International Group Inc. grew its position in shares of BigCommerce by 3.1% in the second quarter. American International Group Inc. now owns 32,358 shares of the company’s stock valued at $322,000 after purchasing an additional 974 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of BigCommerce by 5.4% in the second quarter. The Manufacturers Life Insurance Company now owns 27,061 shares of the company’s stock valued at $269,000 after purchasing an additional 1,377 shares during the period. Swiss National Bank grew its position in shares of BigCommerce by 1.0% in the third quarter. Swiss National Bank now owns 139,300 shares of the company’s stock valued at $1,375,000 after purchasing an additional 1,400 shares during the period. HighTower Advisors LLC grew its position in shares of BigCommerce by 8.2% in the first quarter. HighTower Advisors LLC now owns 18,730 shares of the company’s stock valued at $414,000 after purchasing an additional 1,425 shares during the period. Finally, Advisors Asset Management Inc. grew its position in shares of BigCommerce by 81.9% in the first quarter. Advisors Asset Management Inc. now owns 3,716 shares of the company’s stock valued at $81,000 after purchasing an additional 1,673 shares during the period. Institutional investors and hedge funds own 72.92% of the company’s stock.

BigCommerce Company Profile

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.