BigCommerce (NASDAQ:BIGC) Trading Up 9.9% – Should You Buy?

BigCommerce Holdings, Inc. (NASDAQ:BIGC) was up 9.9% during trading on Thursday . The company traded as high as $7.00 and last traded at $7.00. Approximately 433,388 shares were traded during trading, a decline of 46% from the average daily volume of 795,848 shares. The stock had previously closed at $6.37.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on BIGC. Bank of America cut their price objective on shares of BigCommerce from $8.00 to $6.00 and set an “underperform” rating on the stock in a report on Thursday, August 29th. Stifel Nicolaus dropped their price target on BigCommerce from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Thursday, October 3rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $14.00 price objective on shares of BigCommerce in a research note on Thursday, October 3rd. Finally, Barclays dropped their target price on shares of BigCommerce from $8.00 to $7.00 and set an “equal weight” rating for the company in a research report on Monday, August 5th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $8.81.

BigCommerce Price Performance

The company has a debt-to-equity ratio of 7.48, a quick ratio of 2.81 and a current ratio of 2.81. The firm has a 50 day moving average price of $5.83 and a two-hundred day moving average price of $6.73.

Institutional Trading of BigCommerce

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Canada Pension Plan Investment Board acquired a new stake in BigCommerce during the second quarter valued at approximately $35,000. Virtu Financial LLC acquired a new stake in shares of BigCommerce during the 3rd quarter valued at approximately $61,000. Acadian Asset Management LLC acquired a new stake in shares of BigCommerce during the 1st quarter valued at approximately $80,000. AQR Capital Management LLC bought a new position in BigCommerce during the second quarter worth $121,000. Finally, HighTower Advisors LLC boosted its holdings in BigCommerce by 16.8% in the third quarter. HighTower Advisors LLC now owns 15,310 shares of the company’s stock worth $89,000 after purchasing an additional 2,200 shares during the period. Institutional investors own 79.21% of the company’s stock.

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.