Needham & Company LLC Reaffirms “Buy” Rating for BigCommerce (NASDAQ:BIGC)

BigCommerce (NASDAQ:BIGC)‘s stock had its “buy” rating reissued by equities research analysts at Needham & Company LLC in a research note issued to investors on Friday,Benzinga reports. They currently have a $10.00 target price on the stock. Needham & Company LLC’s price objective would suggest a potential upside of 60.51% from the stock’s previous close.

Separately, Barclays cut shares of BigCommerce from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock 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 issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, BigCommerce presently has a consensus rating of “Hold” and a consensus price target of $8.14.

BigCommerce Trading Down 0.2 %

Shares of NASDAQ:BIGC opened at $6.23 on Friday. The stock has a market capitalization of $488.31 million, a PE ratio of -17.80 and a beta of 1.18. BigCommerce has a 1 year low of $5.13 and a 1 year high of $8.93. The firm has a fifty day moving average price of $6.40 and a 200 day moving average price of $6.19. The company has a current ratio of 2.81, a quick ratio of 2.81 and a debt-to-equity ratio of 7.48.

BigCommerce (NASDAQ:BIGC) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.02 earnings per share (EPS) 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 the consensus estimate of $86.90 million. BigCommerce had a negative return on equity of 52.65% and a negative net margin of 8.12%. Analysts expect that BigCommerce will post -0.16 EPS for the current fiscal year.

Institutional Investors Weigh In On BigCommerce

A number of hedge funds have recently bought and sold shares of BIGC. International Assets Investment Management LLC bought a new stake in BigCommerce during the third quarter valued at about $920,000. Horrell Capital Management Inc. bought a new stake in BigCommerce during the third quarter valued at about $439,000. Harbor Capital Advisors Inc. boosted its holdings in BigCommerce by 93.4% during the third quarter. Harbor Capital Advisors Inc. now owns 17,179 shares of the company’s stock valued at $100,000 after acquiring an additional 8,297 shares during the period. Aigen Investment Management LP bought a new stake in BigCommerce during the third quarter valued at about $105,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in shares of BigCommerce by 196.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 387,745 shares of the company’s stock valued at $2,268,000 after buying an additional 256,783 shares during the last quarter. 79.21% of the stock is currently owned by institutional investors.

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.