BigCommerce (NASDAQ:BIGC) PT Lowered to $70.00

BigCommerce (NASDAQ:BIGC) had its price objective reduced by Piper Sandler from $83.00 to $70.00 in a research note issued to investors on Wednesday morning, The Fly reports. They currently have an overweight rating on the stock.

Other equities research analysts have also issued reports about the stock. Stifel Nicolaus decreased their target price on shares of BigCommerce from $85.00 to $75.00 and set a buy rating on the stock in a research report on Monday, October 11th. Zacks Investment Research upgraded shares of BigCommerce from a sell rating to a hold rating in a research report on Wednesday, October 6th. Wedbush upgraded shares of BigCommerce from a neutral rating to an outperform rating and set a $50.00 target price on the stock in a research report on Wednesday, December 22nd. They noted that the move was a valuation call. The Goldman Sachs Group began coverage on shares of BigCommerce in a research report on Monday, December 13th. They issued a buy rating and a $60.00 price objective on the stock. Finally, Bank of America began coverage on shares of BigCommerce in a research report on Wednesday, December 8th. They issued a buy rating and a $66.00 price objective on the stock. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, BigCommerce has an average rating of Buy and an average price target of $66.00.

Shares of BigCommerce stock opened at $31.10 on Wednesday. The company has a quick ratio of 9.44, a current ratio of 9.44 and a debt-to-equity ratio of 2.08. The firm’s fifty day simple moving average is $42.41 and its 200-day simple moving average is $52.73. BigCommerce has a 12 month low of $30.22 and a 12 month high of $96.66.

BigCommerce (NASDAQ:BIGC) last announced its quarterly earnings data on Thursday, November 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.08. The company had revenue of $59.29 million for the quarter, compared to analysts’ expectations of $54.84 million. BigCommerce had a negative net margin of 28.59% and a negative return on equity of 21.94%. BigCommerce’s revenue was up 49.2% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.16) EPS. Equities analysts predict that BigCommerce will post -0.63 EPS for the current year.

In other news, CTO Brian Singh Dhatt sold 15,000 shares of the firm’s stock in a transaction dated Monday, December 27th. The stock was sold at an average price of $37.88, for a total transaction of $568,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Robert Alvarez sold 10,000 shares of the firm’s stock in a transaction dated Monday, October 18th. The stock was sold at an average price of $54.79, for a total value of $547,900.00. The disclosure for this sale can be found here. Insiders have sold 131,450 shares of company stock worth $6,947,223 over the last three months. Corporate insiders own 31.70% of the company’s stock.

Several hedge funds have recently modified their holdings of the stock. FourThought Financial LLC raised its stake in shares of BigCommerce by 30.4% in the 4th quarter. FourThought Financial LLC now owns 1,447 shares of the company’s stock valued at $51,000 after acquiring an additional 337 shares in the last quarter. Mountain Capital Investment Advisors Inc acquired a new stake in shares of BigCommerce during the 4th quarter worth approximately $569,000. UBS Asset Management Americas Inc. boosted its stake in BigCommerce by 34.8% in the 3rd quarter. UBS Asset Management Americas Inc. now owns 40,337 shares of the company’s stock valued at $2,043,000 after buying an additional 10,412 shares in the last quarter. First Mercantile Trust Co. acquired a new stake in BigCommerce in the 3rd quarter valued at $97,000. Finally, Bank of New York Mellon Corp boosted its stake in BigCommerce by 28.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 583,722 shares of the company’s stock valued at $29,560,000 after buying an additional 128,925 shares in the last quarter. 76.01% of the stock is currently owned by institutional investors and hedge funds.

BigCommerce Company Profile

BigCommerce Holdings, Inc operates a software-as-a-service platform for small businesses, mid-markets, and large enterprises in the United States. The company's platform provides various services for launching and scaling ecommerce operation, including store design, catalog management, hosting, checkout, order management, reporting, and pre-integrations.

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