Bank of America Cuts BigCommerce (NASDAQ:BIGC) Price Target to $6.00

BigCommerce (NASDAQ:BIGC) had its price objective cut by Bank of America from $8.00 to $6.00 in a research note published on Thursday morning, Benzinga reports. They currently have an underperform rating on the stock.

Several other equities analysts have also weighed in on BIGC. Needham & Company LLC reissued a buy rating and set a $14.00 price objective on shares of BigCommerce in a report on Wednesday. Barclays dropped their price target on BigCommerce from $8.00 to $7.00 and set an equal weight rating on the stock in a research report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Hold and a consensus price target of $9.31.

BigCommerce Trading Down 0.3 %

Shares of BigCommerce stock opened at $5.86 on Thursday. The firm has a market cap of $452.83 million, a PE ratio of -9.16 and a beta of 1.00. BigCommerce has a 1 year low of $5.35 and a 1 year high of $11.20. The company has a debt-to-equity ratio of 13.04, a current ratio of 4.51 and a quick ratio of 5.06. The stock has a fifty day moving average price of $7.02 and a 200-day moving average price of $7.21.

BigCommerce (NASDAQ:BIGC) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02. The business had revenue of $81.83 million during the quarter, compared to the consensus estimate of $81.13 million. BigCommerce had a negative net margin of 12.68% and a negative return on equity of 82.39%. The firm’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the company posted ($0.17) earnings per share. Equities research analysts anticipate that BigCommerce will post -0.31 EPS for the current year.

Hedge Funds Weigh In On BigCommerce

A number of large investors have recently made changes to their positions in the stock. Norges Bank purchased a new stake in BigCommerce during the 4th quarter worth about $10,236,000. Cadian Capital Management LP boosted its position in shares of BigCommerce by 13.6% in the fourth quarter. Cadian Capital Management LP now owns 7,553,280 shares of the company’s stock valued at $73,493,000 after acquiring an additional 904,750 shares during the period. Vanguard Group Inc. grew its stake in BigCommerce by 8.5% during the fourth quarter. Vanguard Group Inc. now owns 9,705,856 shares of the company’s stock valued at $94,438,000 after acquiring an additional 762,437 shares in the last quarter. Divisar Capital Management LLC purchased a new position in BigCommerce during the second quarter valued at approximately $4,274,000. Finally, Steward Partners Investment Solutions LLC bought a new stake in BigCommerce during the 4th quarter worth approximately $3,184,000. 79.21% of the stock is owned by 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.