BigCommerce (NASDAQ:BIGC) Posts Quarterly Earnings Results, Beats Estimates By $0.02 EPS

BigCommerce (NASDAQ:BIGC) released its quarterly earnings data on Thursday. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.03 by $0.02, Briefing.com reports. BigCommerce had a negative net margin of 12.68% and a negative return on equity of 82.39%. The business had revenue of $81.83 million for the quarter, compared to analyst estimates of $81.13 million. During the same period in the previous year, the firm earned ($0.17) EPS. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. BigCommerce updated its FY 2024 guidance to EPS and its Q3 2024 guidance to EPS.

BigCommerce Price Performance

BIGC stock opened at $6.17 on Friday. The stock has a market capitalization of $476.79 million, a price-to-earnings ratio of -9.64 and a beta of 1.00. The company has a quick ratio of 5.06, a current ratio of 4.51 and a debt-to-equity ratio of 13.04. BigCommerce has a 52-week low of $5.62 and a 52-week high of $12.75. The stock’s fifty day simple moving average is $7.92 and its 200-day simple moving average is $7.57.

Analysts Set New Price Targets

BIGC has been the topic of several research reports. Morgan Stanley lowered their price target on shares of BigCommerce from $10.00 to $8.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 17th. Needham & Company LLC reissued a “buy” rating and set a $14.00 price target on shares of BigCommerce in a research report on Friday. Finally, Barclays upped their price objective on BigCommerce from $7.00 to $8.00 and gave the company an “equal weight” rating in a research report on Friday, May 10th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $9.63.

Insider Activity at BigCommerce

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

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.