BigCommerce (NASDAQ:BIGC) PT Lowered to $8.00

BigCommerce (NASDAQ:BIGC) had its target price cut by research analysts at Stifel Nicolaus from $10.00 to $8.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ price objective would suggest a potential upside of 36.99% from the company’s previous close.

Other equities research analysts have also recently issued reports about the company. Barclays dropped their price objective on BigCommerce from $8.00 to $7.00 and set an “equal weight” rating for the company in a research note on Monday, August 5th. Bank of America dropped their target price on BigCommerce from $8.00 to $6.00 and set an “underperform” rating for the company in a research report on Thursday, August 29th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $14.00 price objective on shares of BigCommerce in a research note on Wednesday, August 28th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $8.81.

BigCommerce Stock Up 3.9 %

Shares of NASDAQ:BIGC opened at $5.84 on Thursday. The business has a 50-day moving average price of $5.98 and a 200 day moving average price of $6.87. BigCommerce has a 12-month low of $5.35 and a 12-month high of $10.29. The company has a current ratio of 4.51, a quick ratio of 4.51 and a debt-to-equity ratio of 13.04. The company has a market capitalization of $451.29 million, a price-to-earnings ratio of -9.13 and a beta of 0.98.

BigCommerce (NASDAQ:BIGC) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.02. The business had revenue of $81.83 million for 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 business’s revenue was up 8.5% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.17) EPS. Sell-side analysts expect that BigCommerce will post -0.3 EPS for the current year.

Institutional Trading of BigCommerce

A number of large investors have recently made changes to their positions in BIGC. Canada Pension Plan Investment Board purchased a new position in BigCommerce in the second quarter worth approximately $35,000. Acadian Asset Management LLC acquired a new stake in shares of BigCommerce in the 1st quarter valued at $80,000. Virtu Financial LLC acquired a new stake in shares of BigCommerce in the 1st quarter valued at $104,000. AQR Capital Management LLC purchased a new stake in shares of BigCommerce during the 2nd quarter worth $121,000. Finally, Bayesian Capital Management LP acquired a new position in shares of BigCommerce during the first quarter worth $144,000. 79.21% of the stock is currently 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.