BigCommerce (NASDAQ:BIGC) Receives “Buy” Rating from Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of BigCommerce (NASDAQ:BIGC) in a research note released on Wednesday morning,Benzinga reports. Needham & Company LLC currently has a $10.00 price objective on the stock.

Separately, Barclays cut shares of BigCommerce from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $8.00 to $7.00 in a report on Friday, January 10th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, BigCommerce has an average rating of “Hold” and a consensus price target of $7.80.

BigCommerce Trading Down 2.6 %

NASDAQ:BIGC opened at $5.98 on Wednesday. The company has a current ratio of 2.81, a quick ratio of 2.81 and a debt-to-equity ratio of 7.48. The stock has a market capitalization of $470.03 million, a price-to-earnings ratio of -17.09 and a beta of 1.13. The firm has a fifty day simple moving average of $6.46 and a two-hundred day simple moving average of $6.26. BigCommerce has a 12 month low of $5.13 and a 12 month high of $8.60.

BigCommerce (NASDAQ:BIGC) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.05). The business had revenue of $87.03 million for the quarter, compared to analyst estimates of $86.90 million. BigCommerce had a negative net margin of 8.12% and a negative return on equity of 52.65%. Analysts expect that BigCommerce will post -0.16 EPS for the current fiscal year.

Insider Activity at BigCommerce

In other news, Director Ellen F. Siminoff purchased 177,158 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The shares were bought at an average cost of $6.64 per share, with a total value of $1,176,329.12. Following the completion of the transaction, the director now directly owns 253,333 shares of the company’s stock, valued at approximately $1,682,131.12. This trade represents a 232.57 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 9.06% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in BIGC. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of BigCommerce during the fourth quarter valued at about $35,000. New York State Common Retirement Fund raised its position in BigCommerce by 105.3% in the fourth quarter. New York State Common Retirement Fund now owns 8,579 shares of the company’s stock worth $53,000 after acquiring an additional 4,400 shares during the period. Virtu Financial LLC bought a new stake in BigCommerce in the third quarter worth about $61,000. Headlands Technologies LLC raised its position in BigCommerce by 260.5% in the fourth quarter. Headlands Technologies LLC now owns 9,938 shares of the company’s stock worth $61,000 after acquiring an additional 7,181 shares during the period. Finally, Sanctuary Advisors LLC bought a new stake in BigCommerce in the fourth quarter worth about $66,000. 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.