Barclays Cuts BigCommerce (NASDAQ:BIGC) Price Target to $7.00

BigCommerce (NASDAQ:BIGC) had its price target decreased by Barclays from $10.00 to $7.00 in a research note issued to investors on Monday, Benzinga reports. Barclays currently has an equal weight rating on the stock.

BIGC has been the topic of several other research reports. Needham & Company LLC reiterated a buy rating and issued a $20.00 price objective on shares of BigCommerce in a report on Tuesday, January 30th. Piper Sandler cut their price objective on BigCommerce from $11.00 to $9.00 and set a neutral rating on the stock in a report on Friday, February 23rd. Truist Financial cut their price objective on BigCommerce from $10.00 to $9.00 and set a hold rating on the stock in a report on Friday, February 23rd. The Goldman Sachs Group downgraded BigCommerce from a buy rating to a neutral rating and cut their price objective for the company from $11.50 to $9.50 in a report on Monday, February 5th. Finally, Bank of America restated an underperform rating and set a $7.50 price target (down previously from $11.00) on shares of BigCommerce in a report on Monday, March 25th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of Hold and an average target price of $10.50.

BigCommerce Price Performance

BIGC stock opened at $5.98 on Monday. The company has a current ratio of 4.83, a quick ratio of 4.83 and a debt-to-equity ratio of 13.30. The company has a market capitalization of $458.07 million, a PE ratio of -6.95 and a beta of 0.80. BigCommerce has a 12-month low of $5.95 and a 12-month high of $12.75. The business’s fifty day moving average price is $7.47 and its 200 day moving average price is $8.51.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BIGC. Alliancebernstein L.P. boosted its position in shares of BigCommerce by 84.8% during the 3rd quarter. Alliancebernstein L.P. now owns 5,015,401 shares of the company’s stock worth $74,228,000 after acquiring an additional 2,301,491 shares in the last quarter. Cadian Capital Management LP boosted its position in shares of BigCommerce by 31.0% during the 3rd quarter. Cadian Capital Management LP now owns 6,648,530 shares of the company’s stock worth $65,621,000 after acquiring an additional 1,571,938 shares in the last quarter. Norges Bank acquired a new position in shares of BigCommerce during the 4th quarter worth about $10,236,000. Morgan Stanley boosted its position in shares of BigCommerce by 22.5% in the 3rd quarter. Morgan Stanley now owns 4,266,223 shares of the company’s stock valued at $42,108,000 after purchasing an additional 782,862 shares during the period. Finally, Vanguard Group Inc. boosted its position in shares of BigCommerce by 8.5% in the 4th quarter. Vanguard Group Inc. now owns 9,705,856 shares of the company’s stock valued at $94,438,000 after purchasing an additional 762,437 shares during the period. 79.21% of the stock is owned by institutional investors and hedge funds.

About BigCommerce

BigCommerce Holdings, Inc operates a software-as-a-service platform for enterprises, small businesses, and mid-markets in the United States, North and South America, Europe, the Middle East, Africa, and the AsiaPacific. The company provides a platform for launching and scaling an ecommerce operation, including store design, catalog management, hosting, checkout, order management, reporting, and pre-integration into third-party services.