Barclays Cuts Commerce.com (NASDAQ:CMRC) Price Target to $2.00

Commerce.com (NASDAQ:CMRC) had its target price trimmed by Barclays from $3.00 to $2.00 in a research note published on Tuesday,Benzinga reports. The brokerage currently has an underweight rating on the stock.

CMRC has been the topic of a number of other reports. Wall Street Zen lowered shares of Commerce.com from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 8th. UBS Group restated a “neutral” rating and set a $3.50 price objective on shares of Commerce.com in a research report on Tuesday, July 21st. Needham & Company LLC restated a “buy” rating and issued a $7.50 target price on shares of Commerce.com in a research note on Thursday, April 30th. The Goldman Sachs Group set a $5.00 target price on shares of Commerce.com in a report on Monday. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Commerce.com in a research note on Friday, July 17th. One analyst has rated the stock with a Buy rating, three have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $4.17.

Commerce.com Trading Up 2.8%

Shares of CMRC stock opened at $2.22 on Tuesday. The company has a market capitalization of $183.17 million, a P/E ratio of -31.71 and a beta of 1.14. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 2.95. The business’s 50 day moving average is $2.86 and its two-hundred day moving average is $2.87. Commerce.com has a twelve month low of $1.95 and a twelve month high of $5.55.

Institutional Trading of Commerce.com

A number of institutional investors have recently modified their holdings of CMRC. Pale Fire Capital SE raised its position in Commerce.com by 294.2% in the first quarter. Pale Fire Capital SE now owns 2,952,094 shares of the company’s stock worth $7,882,000 after acquiring an additional 2,203,169 shares in the last quarter. Geode Capital Management LLC purchased a new stake in shares of Commerce.com during the 4th quarter worth $6,605,000. Marshall Wace LLP purchased a new stake in shares of Commerce.com during the 4th quarter worth $6,188,000. State Street Corp acquired a new position in shares of Commerce.com during the 4th quarter worth $5,867,000. Finally, Potrero Capital Research LLC acquired a new position in shares of Commerce.com during the 4th quarter worth $5,831,000. 79.21% of the stock is currently owned by hedge funds and other institutional investors.

Commerce.com Company Profile

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.