BigCommerce’s (BIGC) “Buy” Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of BigCommerce (NASDAQ:BIGC) in a research note released on Friday,Benzinga reports. They currently have a $10.00 target price on the stock.

Separately, Barclays downgraded BigCommerce from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $8.00 to $7.00 in a report on Friday, January 10th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $8.14.

BigCommerce Price Performance

BigCommerce stock opened at $6.23 on Friday. The firm has a fifty day moving average of $6.40 and a 200-day moving average of $6.18. BigCommerce has a 52-week low of $5.13 and a 52-week high of $8.93. The company has a quick ratio of 2.81, a current ratio of 2.81 and a debt-to-equity ratio of 7.48. The firm has a market capitalization of $488.31 million, a P/E ratio of -17.31 and a beta of 1.18.

BigCommerce (NASDAQ:BIGC) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.05). BigCommerce had a negative net margin of 8.43% and a negative return on equity of 58.18%. The company had revenue of $87.03 million during the quarter, compared to analyst estimates of $86.90 million. As a group, analysts predict that BigCommerce will post -0.25 EPS for the current year.

Institutional Trading of BigCommerce

Several large investors have recently modified their holdings of the business. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of BigCommerce in the fourth quarter worth about $35,000. New York State Common Retirement Fund increased its holdings in BigCommerce by 105.3% during the 4th quarter. New York State Common Retirement Fund now owns 8,579 shares of the company’s stock worth $53,000 after purchasing an additional 4,400 shares during the last quarter. Headlands Technologies LLC increased its holdings in BigCommerce by 260.5% during the 4th quarter. Headlands Technologies LLC now owns 9,938 shares of the company’s stock worth $61,000 after purchasing an additional 7,181 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of BigCommerce in the 3rd quarter valued at approximately $61,000. Finally, Sanctuary Advisors LLC purchased a new position in shares of BigCommerce during the 4th quarter valued at approximately $66,000. 79.21% of the stock is currently owned by institutional investors and hedge funds.

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.