BigCommerce (NASDAQ:BIGC – Get 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
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.
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.
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