Analysts Set BigCommerce Holdings, Inc. (NASDAQ:BIGC) Price Target at $7.58

Shares of BigCommerce Holdings, Inc. (NASDAQ:BIGC) have received a consensus recommendation of “Hold” from the six research firms that are currently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $7.58.

Several brokerages have recently weighed in on BIGC. Morgan Stanley decreased their price target on BigCommerce from $8.00 to $7.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 16th. The Goldman Sachs Group decreased their price target on BigCommerce from $9.50 to $8.50 and set a “neutral” rating for the company in a research note on Friday. Needham & Company LLC reissued a “buy” rating and issued a $10.00 price target on shares of BigCommerce in a research note on Wednesday, March 12th. Finally, Barclays decreased their price target on BigCommerce from $7.00 to $6.00 and set an “underweight” rating for the company in a research note on Monday, April 21st.

Insider Activity at BigCommerce

In other news, Director Ellen F. Siminoff acquired 177,158 shares of the firm’s stock in a transaction dated Thursday, March 6th. The stock was purchased at an average price of $6.64 per share, for a total transaction of $1,176,329.12. Following the completion of the acquisition, the director now directly owns 253,333 shares in the company, valued at $1,682,131.12. The trade was a 232.57% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 4.99% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On BigCommerce

A number of large investors have recently modified their holdings of BIGC. GAMMA Investing LLC lifted its holdings in shares of BigCommerce by 8,196.8% in the 1st quarter. GAMMA Investing LLC now owns 5,144 shares of the company’s stock worth $30,000 after purchasing an additional 5,082 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of BigCommerce in the 4th quarter worth $35,000. New York State Common Retirement Fund lifted its holdings in shares of BigCommerce by 105.3% in the 4th quarter. New York State Common Retirement Fund now owns 8,579 shares of the company’s stock worth $53,000 after purchasing an additional 4,400 shares in the last quarter. Next Level Private LLC bought a new position in shares of BigCommerce in the 1st quarter worth $58,000. Finally, Virtu Financial LLC bought a new position in shares of BigCommerce in the 3rd quarter worth $61,000. 79.21% of the stock is currently owned by institutional investors.

BigCommerce Price Performance

Shares of BIGC opened at $5.16 on Friday. BigCommerce has a 12-month low of $4.85 and a 12-month high of $8.60. The business has a 50-day simple moving average of $5.56 and a two-hundred day simple moving average of $6.17. The company has a quick ratio of 2.81, a current ratio of 2.81 and a debt-to-equity ratio of 7.48. The stock has a market cap of $405.58 million, a PE ratio of -14.74 and a beta of 1.18.

BigCommerce (NASDAQ:BIGC) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.01. The company had revenue of $82.37 million during the quarter, compared to analysts’ expectations of $82.48 million. BigCommerce had a negative return on equity of 52.65% and a negative net margin of 8.12%. The business’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.07 earnings per share. Analysts anticipate that BigCommerce will post -0.16 earnings per share for the current fiscal year.

BigCommerce Company Profile

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.