BigCommerce (NASDAQ:BIGC) Rating Lowered to “Underweight” at Barclays

BigCommerce (NASDAQ:BIGC) was downgraded by analysts at Barclays from an “equal weight” rating to an “underweight” rating in a research report issued to clients and investors on Friday, MarketBeat reports. They presently have a $7.00 price target on the stock, down from their previous price target of $8.00. Barclays‘s price objective would suggest a potential upside of 14.94% from the stock’s current price.

A number of other equities analysts have also recently issued reports on the stock. Needham & Company LLC restated a “buy” rating and set a $10.00 target price on shares of BigCommerce in a research report on Monday, December 9th. Stifel Nicolaus cut their price objective on BigCommerce from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Thursday, October 3rd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $8.31.

BigCommerce Trading Down 1.6 %

Shares of BIGC stock opened at $6.09 on Friday. BigCommerce has a fifty-two week low of $5.13 and a fifty-two week high of $8.98. 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 business has a fifty day simple moving average of $6.60 and a 200-day simple moving average of $6.46. The stock has a market cap of $477.33 million, a P/E ratio of -16.92 and a beta of 1.18.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Canada Pension Plan Investment Board purchased a new stake in BigCommerce in the second quarter valued at approximately $35,000. Virtu Financial LLC purchased a new position in BigCommerce during the third quarter worth approximately $61,000. AQR Capital Management LLC acquired a new position in shares of BigCommerce in the 2nd quarter valued at $121,000. HighTower Advisors LLC grew its stake in shares of BigCommerce by 16.8% during the 3rd quarter. HighTower Advisors LLC now owns 15,310 shares of the company’s stock valued at $89,000 after buying an additional 2,200 shares during the period. Finally, International Assets Investment Management LLC acquired a new stake in shares of BigCommerce during the 3rd quarter worth $920,000. Hedge funds and other 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.