BigCommerce (NASDAQ:BIGC) Issues Earnings Results

BigCommerce (NASDAQ:BIGCGet Rating) released its earnings results on Thursday. The company reported ($0.19) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.05, Briefing.com reports. The company had revenue of $68.20 million for the quarter, compared to analyst estimates of $66.16 million. BigCommerce had a negative net margin of 51.29% and a negative return on equity of 56.69%. The firm’s quarterly revenue was up 38.9% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.15) EPS. BigCommerce updated its FY 2022 guidance to EPS and its Q3 2022 guidance to EPS.

BigCommerce Stock Up 2.6 %

NASDAQ:BIGC traded up $0.47 during trading hours on Friday, hitting $18.82. The stock had a trading volume of 1,107,698 shares, compared to its average volume of 951,332. The company has a current ratio of 6.69, a quick ratio of 6.69 and a debt-to-equity ratio of 3.06. BigCommerce has a 1-year low of $12.71 and a 1-year high of $67.16. The business has a 50 day simple moving average of $17.31 and a two-hundred day simple moving average of $20.74. The company has a market cap of $1.37 billion, a PE ratio of -10.28 and a beta of 0.78.

Insider Buying and Selling at BigCommerce

In other news, CMO Lisa Eggerton sold 3,620 shares of the stock in a transaction that occurred on Friday, May 27th. The stock was sold at an average price of $19.11, for a total transaction of $69,178.20. Following the completion of the transaction, the chief marketing officer now directly owns 117,342 shares in the company, valued at approximately $2,242,405.62. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Jeffrey Gordon Richards sold 5,772 shares of the stock in a transaction that occurred on Monday, May 23rd. The stock was sold at an average price of $19.07, for a total transaction of $110,072.04. Following the completion of the transaction, the director now directly owns 81,490 shares in the company, valued at approximately $1,554,014.30. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CMO Lisa Eggerton sold 3,620 shares of the stock in a transaction that occurred on Friday, May 27th. The shares were sold at an average price of $19.11, for a total value of $69,178.20. Following the transaction, the chief marketing officer now owns 117,342 shares of the company’s stock, valued at $2,242,405.62. The disclosure for this sale can be found here. Insiders sold 59,637 shares of company stock valued at $1,051,165 over the last 90 days. 31.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On BigCommerce

Several large investors have recently added to or reduced their stakes in the company. HighTower Advisors LLC lifted its stake in BigCommerce by 8.2% during the first quarter. HighTower Advisors LLC now owns 18,730 shares of the company’s stock worth $414,000 after purchasing an additional 1,425 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in BigCommerce by 81.9% during the first quarter. Advisors Asset Management Inc. now owns 3,716 shares of the company’s stock worth $81,000 after purchasing an additional 1,673 shares during the last quarter. Rhumbline Advisers lifted its stake in BigCommerce by 4.3% during the first quarter. Rhumbline Advisers now owns 50,210 shares of the company’s stock worth $1,100,000 after purchasing an additional 2,085 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in BigCommerce by 14.1% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 23,621 shares of the company’s stock worth $518,000 after purchasing an additional 2,911 shares during the last quarter. Finally, PDT Partners LLC lifted its stake in BigCommerce by 3.4% during the first quarter. PDT Partners LLC now owns 91,586 shares of the company’s stock worth $2,007,000 after purchasing an additional 2,986 shares during the last quarter. 77.98% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Canaccord Genuity Group reduced their target price on shares of BigCommerce from $32.00 to $29.00 in a report on Tuesday, May 3rd. Jefferies Financial Group reduced their target price on shares of BigCommerce from $25.00 to $21.00 in a report on Monday, May 23rd. Stifel Nicolaus dropped their price objective on shares of BigCommerce from $35.00 to $23.00 in a research note on Tuesday, July 26th. Oppenheimer started coverage on shares of BigCommerce in a research note on Tuesday, July 26th. They set a “market perform” rating for the company. Finally, Morgan Stanley dropped their price objective on shares of BigCommerce from $21.00 to $19.00 and set an “equal weight” rating for the company in a research note on Thursday, July 14th. Seven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $32.81.

About BigCommerce

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BigCommerce Holdings, Inc operates a software-as-a-service platform for small businesses, mid-markets, and large enterprises in the United States, Europe, the Middle East, Africa, the Asia-Pacific, and internationally. The company's platform provides various services for launching and scaling e-commerce operation, including store design, catalog management, hosting, checkout, order management, reporting, and pre-integrations.

See Also

Earnings History for BigCommerce (NASDAQ:BIGC)

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