BigCommerce (NASDAQ:BIGC - Get Rating) was downgraded by equities research analysts at Bank of America from a "buy" rating to a "neutral" rating in a report released on Wednesday, The Fly reports.
Several other research firms also recently weighed in on BIGC. Needham & Company LLC started coverage on shares of BigCommerce in a report on Friday, December 16th. They issued a "buy" rating and a $20.00 target price for the company. Piper Sandler lowered their target price on shares of BigCommerce from $18.00 to $16.00 and set an "overweight" rating for the company in a research note on Friday, December 16th. KeyCorp reduced their price target on shares of BigCommerce from $25.00 to $15.00 and set an "overweight" rating for the company in a research report on Monday, November 7th. The Goldman Sachs Group reduced their target price on shares of BigCommerce from $26.00 to $23.00 and set a "buy" rating for the company in a report on Monday, November 7th. Finally, Barclays cut their price target on shares of BigCommerce from $20.00 to $18.00 and set an "equal weight" rating for the company in a report on Tuesday, October 18th. Nine analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $22.90.
BigCommerce Price Performance
Shares of BIGC opened at $8.39 on Wednesday. The business's 50-day moving average is $9.55 and its two-hundred day moving average is $14.10. The company has a quick ratio of 5.66, a current ratio of 5.66 and a debt-to-equity ratio of 5.18. BigCommerce has a fifty-two week low of $7.74 and a fifty-two week high of $37.45.
BigCommerce (NASDAQ:BIGC - Get Rating) last posted its quarterly earnings data on Thursday, November 3rd. The company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.33) by $0.03. BigCommerce had a negative return on equity of 89.29% and a negative net margin of 51.99%. The company had revenue of $72.39 million for the quarter, compared to analysts' expectations of $69.68 million. On average, sell-side analysts forecast that BigCommerce will post -1.24 EPS for the current fiscal year.
Institutional Trading of BigCommerce
Institutional investors have recently added to or reduced their stakes in the business. Advisors Asset Management Inc. lifted its stake in BigCommerce by 81.9% in the first quarter. Advisors Asset Management Inc. now owns 3,716 shares of the company's stock valued at $81,000 after acquiring an additional 1,673 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich lifted its stake in BigCommerce by 351.3% in the third quarter. Bank Julius Baer & Co. Ltd Zurich now owns 5,831 shares of the company's stock valued at $86,000 after acquiring an additional 4,539 shares during the last quarter. Essex Investment Management Co. LLC lifted its stake in shares of BigCommerce by 29.6% in the third quarter. Essex Investment Management Co. LLC now owns 6,069 shares of the company's stock worth $90,000 after buying an additional 1,385 shares during the last quarter. Cullen Frost Bankers Inc. acquired a new stake in shares of BigCommerce in the third quarter worth $104,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of BigCommerce by 37.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,704 shares of the company's stock worth $109,000 after buying an additional 1,811 shares during the last quarter. 72.36% of the stock is currently owned by institutional investors and hedge funds.
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.
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