Needham & Company LLC Reaffirms Buy Rating for BigCommerce (NASDAQ:BIGC)

Needham & Company LLC reaffirmed their buy rating on shares of BigCommerce (NASDAQ:BIGC) in a report issued on Friday, Benzinga reports. Needham & Company LLC currently has a $14.00 price target on the stock.

Several other brokerages have also recently weighed in on BIGC. Barclays increased their price objective on shares of BigCommerce from $7.00 to $8.00 and gave the stock an equal weight rating in a research note on Friday, May 10th. Morgan Stanley decreased their target price on shares of BigCommerce from $10.00 to $8.00 and set an equal weight rating on the stock in a research note on Wednesday, April 17th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of Hold and a consensus price target of $9.63.

BigCommerce Price Performance

Shares of BigCommerce stock opened at $6.17 on Friday. The company has a current ratio of 4.51, a quick ratio of 5.06 and a debt-to-equity ratio of 13.04. The company has a 50-day moving average of $7.92 and a 200 day moving average of $7.57. BigCommerce has a 1 year low of $5.62 and a 1 year high of $12.75.

BigCommerce (NASDAQ:BIGC) last announced its quarterly earnings data on Thursday, May 9th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.04. BigCommerce had a negative net margin of 12.68% and a negative return on equity of 82.39%. The company had revenue of $80.36 million for the quarter, compared to the consensus estimate of $77.46 million. As a group, analysts anticipate that BigCommerce will post -0.31 EPS for the current fiscal year.

Insiders Place Their Bets

In other BigCommerce news, insider Brent Bellm sold 31,907 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $8.35, for a total transaction of $266,423.45. Following the sale, the insider now owns 719,939 shares in the company, valued at approximately $6,011,490.65. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, insider Brent Bellm sold 31,907 shares of BigCommerce stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $8.35, for a total transaction of $266,423.45. Following the sale, the insider now owns 719,939 shares in the company, valued at $6,011,490.65. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CTO Brian Singh Dhatt sold 5,787 shares of BigCommerce stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $8.35, for a total transaction of $48,321.45. Following the sale, the chief technology officer now owns 240,841 shares in the company, valued at approximately $2,011,022.35. The disclosure for this sale can be found here. 9.06% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Rhumbline Advisers grew its holdings in shares of BigCommerce by 8.4% in the second quarter. Rhumbline Advisers now owns 101,556 shares of the company’s stock valued at $819,000 after purchasing an additional 7,849 shares in the last quarter. Catalytic Wealth RIA LLC purchased a new position in BigCommerce during the second quarter worth $188,000. Virtu Financial LLC purchased a new position in BigCommerce during the first quarter worth $104,000. Bayesian Capital Management LP purchased a new position in BigCommerce during the first quarter worth $144,000. Finally, Price T Rowe Associates Inc. MD boosted its stake in BigCommerce by 6.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 50,794 shares of the company’s stock worth $350,000 after buying an additional 3,188 shares during the period. 79.21% of the stock is owned by hedge funds and other institutional investors.

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.