BigCommerce (NASDAQ:BIGC) PT Lowered to $7.00 at Barclays

BigCommerce (NASDAQ:BIGC) had its target price lowered by Barclays from $8.00 to $7.00 in a research note released on Monday morning, Benzinga reports. The firm currently has an equal weight rating on the stock.

Other equities research analysts have also recently issued reports about the company. Morgan Stanley lowered their price objective on BigCommerce from $10.00 to $8.00 and set an equal weight rating on the stock in a research note on Wednesday, April 17th. Needham & Company LLC restated a buy rating and issued a $14.00 price objective on shares of BigCommerce in a report on Friday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, BigCommerce presently has an average rating of Hold and a consensus target price of $9.50.

BigCommerce Stock Down 0.8 %

NASDAQ BIGC traded down $0.05 on Monday, reaching $5.88. The company had a trading volume of 702,773 shares, compared to its average volume of 696,341. BigCommerce has a 52-week low of $5.50 and a 52-week high of $12.34. The stock has a market capitalization of $454.38 million, a P/E ratio of -9.28 and a beta of 1.00. The company’s fifty day moving average is $7.87 and its 200 day moving average is $7.55. The company has a quick ratio of 5.06, a current ratio of 4.51 and a debt-to-equity ratio of 13.04.

BigCommerce (NASDAQ:BIGC) last announced its earnings results on Thursday, August 1st. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.02. BigCommerce had a negative return on equity of 82.39% and a negative net margin of 12.68%. The firm had revenue of $81.83 million during the quarter, compared to analyst estimates of $81.13 million. During the same period last year, the firm posted ($0.17) EPS. The business’s revenue was up 8.5% compared to the same quarter last year. Sell-side analysts anticipate that BigCommerce will post -0.31 earnings per share for the current fiscal year.

Insider Transactions at BigCommerce

In other BigCommerce news, insider Brent Bellm sold 31,907 shares of the stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $8.35, for a total transaction of $266,423.45. Following the transaction, the insider now directly owns 719,939 shares in the company, valued at approximately $6,011,490.65. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other BigCommerce news, CTO Brian Singh Dhatt sold 5,787 shares of the stock in a transaction dated 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 directly owns 240,841 shares of the company’s stock, valued at $2,011,022.35. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Brent Bellm sold 31,907 shares of the firm’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 completion of the sale, the insider now owns 719,939 shares of the company’s stock, valued at $6,011,490.65. The disclosure for this sale can be found here. Corporate insiders own 9.06% of the company’s stock.

Institutional Investors Weigh In On BigCommerce

Institutional investors have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of BigCommerce by 2.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 102,469 shares of the company’s stock valued at $997,000 after buying an additional 2,308 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of BigCommerce by 6.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 50,794 shares of the company’s stock worth $350,000 after purchasing an additional 3,188 shares during the last quarter. Clearbridge Investments LLC increased its stake in BigCommerce by 0.6% during the 4th quarter. Clearbridge Investments LLC now owns 1,296,400 shares of the company’s stock worth $12,614,000 after buying an additional 7,254 shares in the last quarter. Rhumbline Advisers raised its stake in BigCommerce by 8.4% during the second quarter. Rhumbline Advisers now owns 101,556 shares of the company’s stock worth $819,000 after purchasing an additional 7,849 shares during the period. Finally, Acadian Asset Management LLC purchased a new stake in BigCommerce in the first quarter valued at $80,000. Institutional investors and hedge funds own 79.21% of the company’s stock.

BigCommerce Company Profile

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.