BigCommerce Holdings, Inc. (NASDAQ:BIGC) Receives $8.81 Average Target Price from Brokerages

BigCommerce Holdings, Inc. (NASDAQ:BIGC) has earned an average recommendation of “Hold” from the eight brokerages that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $8.81.

A number of research analysts have recently weighed in on the stock. Barclays dropped their price objective on shares of 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 price target on BigCommerce from $8.00 to $6.00 and set an “underperform” rating for the company in a research report on Thursday, August 29th. Needham & Company LLC restated a “buy” rating and issued a $14.00 price objective on shares of BigCommerce in a research report on Thursday, October 3rd. Finally, Stifel Nicolaus dropped their price objective on BigCommerce from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Thursday, October 3rd.

Institutional Investors Weigh In On BigCommerce

Hedge funds and other institutional investors have recently made changes to their positions in the business. The Manufacturers Life Insurance Company boosted its stake in BigCommerce by 8.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 27,167 shares of the company’s stock worth $219,000 after buying an additional 2,056 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of BigCommerce by 6.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 50,794 shares of the company’s stock worth $350,000 after acquiring an additional 3,188 shares during the period. Canada Pension Plan Investment Board acquired a new stake in shares of BigCommerce in the second quarter worth approximately $35,000. Rhumbline Advisers grew its holdings in 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 during the period. Finally, Acadian Asset Management LLC purchased a new stake in BigCommerce in the first quarter valued at approximately $80,000. Hedge funds and other institutional investors own 79.21% of the company’s stock.

BigCommerce Trading Up 7.5 %

Shares of BigCommerce stock opened at $6.04 on Wednesday. The company has a 50-day moving average of $5.79 and a two-hundred day moving average of $6.79. 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 stock has a market cap of $466.74 million, a PE ratio of -9.44 and a beta of 0.98.

BigCommerce (NASDAQ:BIGC) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.02. The firm had revenue of $81.83 million during the quarter, compared to the consensus estimate of $81.13 million. BigCommerce had a negative return on equity of 82.39% and a negative net margin of 12.68%. BigCommerce’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period last year, the business posted ($0.17) EPS. On average, research analysts anticipate that BigCommerce will post -0.3 EPS for the current fiscal year.

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.