BigCommerce Holdings, Inc. (NASDAQ:BIGC) Receives Average Recommendation of “Hold” from Brokerages

BigCommerce Holdings, Inc. (NASDAQ:BIGC) has received an average recommendation of “Hold” from the eight ratings firms that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and one has given a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $9.63.

A number of research firms have commented on BIGC. Morgan Stanley lowered their price objective on BigCommerce from $10.00 to $8.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 17th. Piper Sandler dropped their price objective on shares of BigCommerce from $11.00 to $9.00 and set a “neutral” rating for the company in a research note on Friday, February 23rd. Barclays boosted their price objective on BigCommerce from $7.00 to $8.00 and gave the stock an “equal weight” rating in a research report on Friday, May 10th. Needham & Company LLC reaffirmed a “buy” rating and issued a $14.00 price objective on shares of BigCommerce in a research note on Friday, May 10th. Finally, Bank of America reiterated an “underperform” rating and set a $7.50 target price (down from $11.00) on shares of BigCommerce in a research report on Monday, March 25th.

BigCommerce Stock Performance

Shares of NASDAQ BIGC opened at $8.14 on Thursday. BigCommerce has a one year low of $5.62 and a one year high of $12.75. The company has a debt-to-equity ratio of 12.63, a current ratio of 5.06 and a quick ratio of 5.06. The firm has a market cap of $629.06 million, a price-to-earnings ratio of -12.72 and a beta of 1.00. The stock’s fifty day moving average price is $7.02 and its two-hundred day moving average price is $7.91.

BigCommerce (NASDAQ:BIGC) last released its quarterly earnings results on Thursday, May 9th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.04. BigCommerce had a negative net margin of 15.39% and a negative return on equity of 109.97%. The business had revenue of $80.36 million for the quarter, compared to the consensus estimate of $77.46 million. On average, equities analysts forecast that BigCommerce will post -0.28 EPS for the current year.

Insider Buying and Selling at BigCommerce

In other BigCommerce news, insider Brent Bellm sold 31,907 shares of the firm’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $8.35, for a total value of $266,423.45. Following the transaction, the insider now directly owns 719,939 shares of the company’s stock, valued at $6,011,490.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Brent Bellm sold 31,907 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $8.35, for a total transaction of $266,423.45. Following the transaction, the insider now directly owns 719,939 shares of the company’s stock, valued at $6,011,490.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Brian Singh Dhatt sold 5,787 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $8.35, for a total transaction of $48,321.45. Following the transaction, the chief technology officer now directly owns 240,841 shares in the company, valued at $2,011,022.35. The disclosure for this sale can be found here. Insiders own 9.06% of the company’s stock.

Hedge Funds Weigh In On BigCommerce

Institutional investors have recently modified their holdings of the business. Cadian Capital Management LP lifted its stake in BigCommerce by 31.0% in the third quarter. Cadian Capital Management LP now owns 6,648,530 shares of the company’s stock valued at $65,621,000 after purchasing an additional 1,571,938 shares during the last quarter. Norges Bank purchased a new position in BigCommerce in the fourth quarter valued at approximately $10,236,000. Vanguard Group Inc. lifted its stake in BigCommerce by 8.5% in the fourth quarter. Vanguard Group Inc. now owns 9,705,856 shares of the company’s stock valued at $94,438,000 after purchasing an additional 762,437 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in BigCommerce by 94.8% in the third quarter. Jacobs Levy Equity Management Inc. now owns 706,676 shares of the company’s stock valued at $6,975,000 after purchasing an additional 343,855 shares during the last quarter. Finally, Steward Partners Investment Solutions LLC purchased a new position in BigCommerce in the fourth quarter valued at approximately $3,184,000. 79.21% of the stock is owned by institutional investors.

About BigCommerce

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.