BigCommerce (NASDAQ:BIGC) PT Lowered to $8.00 at Morgan Stanley

BigCommerce (NASDAQ:BIGC) had its target price lowered by Morgan Stanley from $10.00 to $8.00 in a research note released on Wednesday morning, Benzinga reports. The brokerage currently has an equal weight rating on the stock.

A number of other research analysts have also issued reports on the stock. The Goldman Sachs Group lowered shares of BigCommerce from a buy rating to a neutral rating and decreased their target price for the stock from $11.50 to $9.50 in a research report on Monday, February 5th. Bank of America reiterated an underperform rating and set a $7.50 price target (down previously from $11.00) on shares of BigCommerce in a research report on Monday, March 25th. Piper Sandler reduced their price target on shares of BigCommerce from $11.00 to $9.00 and set a neutral rating on the stock in a research report on Friday, February 23rd. Needham & Company LLC reiterated a buy rating and set a $20.00 price target on shares of BigCommerce in a research report on Tuesday, January 30th. Finally, Barclays reduced their price target on shares of BigCommerce from $10.00 to $7.00 and set an equal weight rating on the stock in a research report on Monday, April 15th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, BigCommerce currently has an average rating of Hold and a consensus price target of $10.25.

BigCommerce Stock Performance

Shares of NASDAQ:BIGC opened at $5.89 on Wednesday. The company’s 50 day moving average price is $7.27 and its two-hundred day moving average price is $8.42. BigCommerce has a 12-month low of $5.81 and a 12-month high of $12.75. The firm has a market cap of $451.17 million, a PE ratio of -6.85 and a beta of 0.80. The company has a quick ratio of 4.83, a current ratio of 4.83 and a debt-to-equity ratio of 13.30.

Institutional Trading of BigCommerce

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in BigCommerce by 8.5% in the fourth quarter. Vanguard Group Inc. now owns 9,705,856 shares of the company’s stock valued at $94,438,000 after buying an additional 762,437 shares in the last quarter. Cadian Capital Management LP boosted its position in BigCommerce by 13.6% in the fourth quarter. Cadian Capital Management LP now owns 7,553,280 shares of the company’s stock valued at $73,493,000 after buying an additional 904,750 shares in the last quarter. Alliancebernstein L.P. boosted its position in BigCommerce by 84.8% in the third quarter. Alliancebernstein L.P. now owns 5,015,401 shares of the company’s stock valued at $74,228,000 after buying an additional 2,301,491 shares in the last quarter. Morgan Stanley raised its stake in shares of BigCommerce by 22.5% during the third quarter. Morgan Stanley now owns 4,266,223 shares of the company’s stock valued at $42,108,000 after acquiring an additional 782,862 shares during the last quarter. Finally, Wasatch Advisors LP raised its stake in shares of BigCommerce by 1.9% during the first quarter. Wasatch Advisors LP now owns 2,277,520 shares of the company’s stock valued at $20,361,000 after acquiring an additional 41,787 shares during the last quarter. 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.