BigCommerce (NASDAQ:BIGC) Price Target Lowered to $7.00 at Barclays

BigCommerce (NASDAQ:BIGC) had its price objective decreased by Barclays from $8.00 to $7.00 in a report issued on Monday morning, Benzinga reports. Barclays currently has an equal weight rating on the stock.

A number of other research analysts have also issued reports on BIGC. Needham & Company LLC reiterated a buy rating and set a $14.00 target price on shares of BigCommerce in a research report on Friday. Morgan Stanley lowered their price target on BigCommerce from $10.00 to $8.00 and set an equal weight rating for the company in a research report on Wednesday, April 17th. 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’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Hold and an average target price of $9.50.

BigCommerce Stock Down 0.8 %

NASDAQ BIGC traded down $0.05 on Monday, hitting $5.88. The stock had a trading volume of 702,773 shares, compared to its average volume of 696,341. The company has a debt-to-equity ratio of 13.04, a current ratio of 4.51 and a quick ratio of 5.06. The stock has a market cap of $454.38 million, a price-to-earnings ratio of -9.28 and a beta of 1.00. BigCommerce has a 52-week low of $5.50 and a 52-week high of $12.34. The business’s fifty day moving average price is $7.87 and its 200 day moving average price is $7.55.

BigCommerce (NASDAQ:BIGC) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02. The business had revenue of $81.83 million for the quarter, compared to analyst estimates of $81.13 million. BigCommerce had a negative return on equity of 82.39% and a negative net margin of 12.68%. The company’s revenue was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.17) earnings per share. Equities research analysts anticipate that BigCommerce will post -0.31 earnings per share for the current year.

Insider Buying and Selling

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

Institutional Trading of BigCommerce

Several institutional investors have recently modified their holdings of BIGC. Rhumbline Advisers boosted its holdings in shares of BigCommerce by 8.4% during the 2nd quarter. Rhumbline Advisers now owns 101,556 shares of the company’s stock worth $819,000 after buying an additional 7,849 shares during the period. Catalytic Wealth RIA LLC bought a new stake in BigCommerce in the 2nd quarter valued at $188,000. Virtu Financial LLC bought a new stake in BigCommerce in the 1st quarter valued at $104,000. Bayesian Capital Management LP bought a new stake in BigCommerce in the 1st quarter valued at $144,000. Finally, Price T Rowe Associates Inc. MD boosted its holdings in BigCommerce by 6.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 50,794 shares of the company’s stock valued at $350,000 after purchasing an additional 3,188 shares during the period. Institutional investors and hedge funds own 79.21% 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.