BigCommerce (NASDAQ:BIGC) Earns Buy Rating from Needham & Company LLC

BigCommerce (NASDAQ:BIGC)‘s stock had its “buy” rating reissued by analysts at Needham & Company LLC in a research note issued on Wednesday,Benzinga reports. They currently have a $10.00 price target on the stock. Needham & Company LLC’s target price indicates a potential upside of 64.74% from the stock’s previous close.

Separately, Barclays cut BigCommerce from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $8.00 to $7.00 in a research report on Friday, January 10th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, BigCommerce currently has an average rating of “Hold” and a consensus target price of $7.80.

BigCommerce Stock Up 1.5 %

BigCommerce stock opened at $6.07 on Wednesday. The company has a debt-to-equity ratio of 7.48, a current ratio of 2.81 and a quick ratio of 2.81. The stock has a market capitalization of $477.10 million, a price-to-earnings ratio of -17.34 and a beta of 1.13. BigCommerce has a 1-year low of $5.13 and a 1-year high of $8.60. The business has a fifty day moving average price of $6.46 and a 200-day moving average price of $6.26.

BigCommerce (NASDAQ:BIGC) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.05). The business had revenue of $87.03 million during the quarter, compared to analyst estimates of $86.90 million. BigCommerce had a negative return on equity of 52.65% and a negative net margin of 8.12%. Equities research analysts forecast that BigCommerce will post -0.16 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Ellen F. Siminoff purchased 177,158 shares of the stock in a transaction on Thursday, March 6th. The stock was bought at an average price of $6.64 per share, with a total value of $1,176,329.12. Following the transaction, the director now owns 253,333 shares in the company, valued at $1,682,131.12. The trade was a 232.57 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 9.06% of the stock is currently owned by insiders.

Hedge Funds Weigh In On BigCommerce

A number of institutional investors have recently modified their holdings of BIGC. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of BigCommerce during the 4th quarter valued at about $35,000. New York State Common Retirement Fund raised its stake in shares of BigCommerce by 105.3% during the 4th quarter. New York State Common Retirement Fund now owns 8,579 shares of the company’s stock valued at $53,000 after buying an additional 4,400 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of BigCommerce during the 3rd quarter valued at about $61,000. Headlands Technologies LLC raised its stake in shares of BigCommerce by 260.5% during the 4th quarter. Headlands Technologies LLC now owns 9,938 shares of the company’s stock valued at $61,000 after buying an additional 7,181 shares during the last quarter. Finally, Sanctuary Advisors LLC purchased a new position in shares of BigCommerce during the 4th quarter valued at about $66,000. 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.