BigCommerce (NASDAQ:BIGC) Stock Rating Upgraded by Wall Street Zen

Wall Street Zen upgraded shares of BigCommerce (NASDAQ:BIGC) from a buy rating to a strong-buy rating in a research report sent to investors on Saturday morning.

BIGC has been the topic of a number of other reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $10.00 price target on shares of BigCommerce in a research note on Wednesday, March 12th. The Goldman Sachs Group decreased their price target on shares of BigCommerce from $9.50 to $8.50 and set a “neutral” rating on the stock in a research note on Friday, May 9th. Morgan Stanley decreased their price target on shares of BigCommerce from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 16th. Finally, Barclays decreased their price target on shares of BigCommerce from $7.00 to $6.00 and set an “underweight” rating on the stock in a research note on Monday, April 21st. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, BigCommerce has an average rating of “Hold” and a consensus price target of $7.58.

BigCommerce Trading Up 3.1%

BIGC stock opened at $4.92 on Friday. The company’s 50-day simple moving average is $5.15 and its 200-day simple moving average is $5.97. The company has a quick ratio of 2.81, a current ratio of 2.81 and a debt-to-equity ratio of 7.48. BigCommerce has a 52-week low of $4.74 and a 52-week high of $8.50. The firm has a market cap of $394.08 million, a P/E ratio of -14.06 and a beta of 1.16.

BigCommerce (NASDAQ:BIGC) last posted its earnings results on Thursday, May 8th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.01. BigCommerce had a negative net margin of 8.12% and a negative return on equity of 52.65%. The business had revenue of $82.37 million for the quarter, compared to analyst estimates of $82.48 million. During the same period in the prior year, the company posted $0.07 EPS. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. As a group, equities analysts forecast that BigCommerce will post -0.16 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Rhumbline Advisers lifted its stake in BigCommerce by 3.6% in the 1st quarter. Rhumbline Advisers now owns 101,451 shares of the company’s stock worth $584,000 after purchasing an additional 3,535 shares in the last quarter. Acadian Asset Management LLC lifted its stake in BigCommerce by 714.4% in the 1st quarter. Acadian Asset Management LLC now owns 690,548 shares of the company’s stock worth $3,976,000 after purchasing an additional 605,753 shares in the last quarter. S Squared Technology LLC lifted its stake in BigCommerce by 1,137.3% in the 1st quarter. S Squared Technology LLC now owns 618,662 shares of the company’s stock worth $3,563,000 after purchasing an additional 568,662 shares in the last quarter. Teza Capital Management LLC purchased a new position in BigCommerce in the 1st quarter worth approximately $107,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in BigCommerce by 15.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 83,826 shares of the company’s stock worth $483,000 after purchasing an additional 11,509 shares in the last quarter. 79.21% of the stock is owned by hedge funds and other institutional investors.

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.