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

Needham & Company LLC reiterated their buy rating on shares of BigCommerce (NASDAQ:BIGC) in a report published on Friday, Benzinga reports. Needham & Company LLC currently has a $14.00 price target on the stock.

Other research analysts have also issued research reports about the stock. Morgan Stanley lowered their price objective on shares of BigCommerce from $10.00 to $8.00 and set an equal weight rating on the stock in a research note on Wednesday, April 17th. Barclays boosted their price objective on BigCommerce from $7.00 to $8.00 and gave the stock an equal weight rating in a research note on Friday, May 10th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus price target of $9.50.

BigCommerce Stock Performance

BIGC traded down $0.04 during trading hours on Friday, hitting $5.89. The company’s stock had a trading volume of 449,802 shares, compared to its average volume of 694,655. The company has a current ratio of 4.51, a quick ratio of 5.06 and a debt-to-equity ratio of 13.04. BigCommerce has a fifty-two week low of $5.50 and a fifty-two week high of $12.34. The company has a 50-day simple moving average of $7.87 and a 200 day simple moving average of $7.55. The firm has a market capitalization of $455.15 million, a PE ratio of -9.28 and a beta of 1.00.

BigCommerce (NASDAQ:BIGC) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.02. The business had revenue of $81.83 million for the quarter, compared to analysts’ expectations of $81.13 million. BigCommerce had a negative net margin of 12.68% and a negative return on equity of 82.39%. The company’s revenue was up 8.5% on a year-over-year basis. During the same period in the previous year, the business earned ($0.17) earnings per share. As a group, sell-side analysts expect that BigCommerce will post -0.31 EPS for the current year.

Insiders Place Their Bets

In other news, insider Brent Bellm sold 31,907 shares of the business’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $8.35, for a total transaction of $266,423.45. Following the sale, the insider now directly owns 719,939 shares of the company’s stock, valued at $6,011,490.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Brent Bellm sold 31,907 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $8.35, for a total transaction of $266,423.45. Following the sale, the insider now owns 719,939 shares in the company, valued at $6,011,490.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Brian Singh Dhatt sold 5,787 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $8.35, for a total transaction of $48,321.45. Following the completion of the sale, the chief technology officer now owns 240,841 shares of the company’s stock, valued at approximately $2,011,022.35. The disclosure for this sale can be found here. 9.06% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Acadian Asset Management LLC acquired a new stake in shares of BigCommerce during the 1st quarter valued at $80,000. Versor Investments LP purchased a new stake in shares of BigCommerce during the fourth quarter worth $129,000. Virtu Financial LLC acquired a new stake in BigCommerce during the first quarter valued at $104,000. Bayesian Capital Management LP purchased a new position in BigCommerce in the first quarter valued at about $144,000. Finally, Catalytic Wealth RIA LLC acquired a new position in BigCommerce in the 2nd quarter worth about $188,000. 79.21% of the stock is 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.