BigCommerce (NASDAQ:BIGC) Price Target Lowered to $8.00 at Morgan Stanley

BigCommerce (NASDAQ:BIGC) had its target price lowered by stock analysts at Morgan Stanley from $10.00 to $8.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s price objective points to a potential upside of 34.68% from the stock’s previous close.

BIGC has been the subject of several other reports. Needham & Company LLC reissued a “buy” rating and issued a $20.00 price target on shares of BigCommerce in a report on Tuesday, January 30th. Truist Financial lowered their price objective on shares of BigCommerce from $10.00 to $9.00 and set a “hold” rating on the stock in a research report on Friday, February 23rd. The Goldman Sachs Group cut shares of BigCommerce from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $11.50 to $9.50 in a research report on Monday, February 5th. Piper Sandler lowered their price objective on shares of BigCommerce from $11.00 to $9.00 and set a “neutral” rating on the stock in a research report on Friday, February 23rd. Finally, Bank of America restated an “underperform” rating and set a $7.50 price objective (down previously from $11.00) on shares of BigCommerce in a research report on Monday, March 25th. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $10.25.

BigCommerce Stock Up 1.5 %

Shares of NASDAQ:BIGC opened at $5.94 on Wednesday. The firm has a fifty day moving average price of $7.33 and a two-hundred day moving average price of $8.44. The company has a debt-to-equity ratio of 13.30, a current ratio of 4.83 and a quick ratio of 4.83. BigCommerce has a one year low of $5.81 and a one year high of $12.75. The company has a market cap of $455.00 million, a price-to-earnings ratio of -6.91 and a beta of 0.80.

Hedge Funds Weigh In On BigCommerce

A number of large investors have recently added to or reduced their stakes in BIGC. Tower Research Capital LLC TRC raised its position in BigCommerce by 93.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,711 shares of the company’s stock worth $37,000 after purchasing an additional 1,792 shares during the period. Lazard Asset Management LLC purchased a new position in BigCommerce in the 3rd quarter worth $74,000. Advisors Asset Management Inc. raised its position in BigCommerce by 81.9% in the 1st quarter. Advisors Asset Management Inc. now owns 3,716 shares of the company’s stock worth $81,000 after purchasing an additional 1,673 shares during the period. State of Wyoming raised its position in BigCommerce by 291.0% in the 4th quarter. State of Wyoming now owns 10,779 shares of the company’s stock worth $94,000 after purchasing an additional 8,022 shares during the period. Finally, GSA Capital Partners LLP purchased a new position in BigCommerce in the 4th quarter worth $97,000. Hedge funds and other institutional investors own 79.21% of the company’s stock.

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.