Needham & Company LLC Has Lowered Expectations for Commerce.com (NASDAQ:CMRC) Stock Price

Commerce.com (NASDAQ:CMRC) had its price objective reduced by analysts at Needham & Company LLC from $10.00 to $7.50 in a report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s price target would indicate a potential upside of 180.90% from the stock’s previous close.

Several other research analysts have also recently weighed in on the stock. Morgan Stanley cut shares of Commerce.com from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $6.50 to $4.00 in a report on Tuesday, January 20th. Barclays reduced their price target on shares of Commerce.com from $3.00 to $2.00 and set an “underweight” rating for the company in a report on Tuesday, February 17th. Zacks Research cut shares of Commerce.com from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 22nd. Weiss Ratings restated a “sell (e+)” rating on shares of Commerce.com in a report on Wednesday, January 21st. Finally, Wall Street Zen cut shares of Commerce.com from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 7th. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Commerce.com currently has an average rating of “Reduce” and a consensus price target of $5.17.

Commerce.com Stock Down 2.2%

Commerce.com stock opened at $2.67 on Wednesday. The stock has a market capitalization of $219.47 million, a PE ratio of -11.61, a price-to-earnings-growth ratio of 0.96 and a beta of 1.16. Commerce.com has a twelve month low of $2.41 and a twelve month high of $5.59. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 3.89. The company has a 50 day moving average of $2.81 and a 200-day moving average of $3.88.

Insider Buying and Selling

In other Commerce.com news, insider Ellen F. Siminoff bought 100,000 shares of Commerce.com stock in a transaction that occurred on Tuesday, February 17th. The stock was acquired at an average price of $2.94 per share, for a total transaction of $294,000.00. Following the completion of the acquisition, the insider owned 353,333 shares of the company’s stock, valued at $1,038,799.02. This trade represents a 39.47% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 9.06% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in CMRC. AQR Capital Management LLC boosted its holdings in Commerce.com by 2,028.0% during the first quarter. AQR Capital Management LLC now owns 278,583 shares of the company’s stock worth $1,605,000 after purchasing an additional 265,492 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Commerce.com by 15.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 83,826 shares of the company’s stock valued at $483,000 after acquiring an additional 11,509 shares during the last quarter. Pallas Capital Advisors LLC acquired a new stake in Commerce.com in the fourth quarter valued at $50,000. CWM LLC acquired a new stake in Commerce.com in the fourth quarter valued at $159,000. Finally, M&T Bank Corp acquired a new stake in Commerce.com in the fourth quarter valued at $5,679,000. Institutional investors and hedge funds own 79.21% of the company’s stock.

About Commerce.com

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. As of December 31, 2021, it served approximately 60,000 online stores across industries.