BigCommerce (NASDAQ:BIGC) Sees Strong Trading Volume

BigCommerce Holdings, Inc. (NASDAQ:BIGC) shares saw strong trading volume on Wednesday . 1,162,264 shares were traded during mid-day trading, an increase of 74% from the previous session’s volume of 667,832 shares.The stock last traded at $6.76 and had previously closed at $6.94.

Wall Street Analysts Forecast Growth

BIGC has been the topic of several analyst reports. Bank of America reissued an “underperform” rating and set a $7.50 target price (down from $11.00) on shares of BigCommerce in a report on Monday, March 25th. Truist Financial reduced their price objective on shares of BigCommerce from $10.00 to $9.00 and set a “hold” rating on the stock in a research note on Friday, February 23rd. Needham & Company LLC restated a “buy” rating and issued a $20.00 target price on shares of BigCommerce in a research report on Tuesday, January 30th. 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. Finally, Morgan Stanley lowered their price objective on shares of BigCommerce from $10.00 to $8.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 17th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $10.25.

BigCommerce Trading Up 12.6 %

The business’s 50 day simple moving average is $6.68 and its two-hundred day simple moving average is $8.08. The stock has a market cap of $576.80 million, a P/E ratio of -8.76 and a beta of 0.84. 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 Investors Weigh In On BigCommerce

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its position in BigCommerce by 8.4% in the third quarter. Vanguard Group Inc. now owns 8,943,419 shares of the company’s stock valued at $88,272,000 after purchasing an additional 693,728 shares during the last quarter. CenterBook Partners LP raised its holdings in BigCommerce by 112.8% in the 3rd quarter. CenterBook Partners LP now owns 393,835 shares of the company’s stock valued at $3,887,000 after buying an additional 208,778 shares during the last quarter. Corton Capital Inc. boosted its position in BigCommerce by 16.2% during the 3rd quarter. Corton Capital Inc. now owns 29,487 shares of the company’s stock worth $291,000 after buying an additional 4,101 shares during the period. Charles Schwab Investment Management Inc. boosted its position in BigCommerce by 6.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 508,357 shares of the company’s stock worth $5,017,000 after buying an additional 30,722 shares during the period. Finally, Deutsche Bank AG grew its holdings in BigCommerce by 3.9% during the 3rd quarter. Deutsche Bank AG now owns 115,968 shares of the company’s stock worth $1,145,000 after acquiring an additional 4,380 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.