Bigcommerce (NASDAQ:CMRC) Lowered to “Hold” Rating by Wall Street Zen

Wall Street Zen lowered shares of Bigcommerce (NASDAQ:CMRC) from a buy rating to a hold rating in a research report report published on Saturday.

A number of other equities research analysts also recently weighed in on CMRC. Morgan Stanley decreased their target price on Bigcommerce from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 16th. The Goldman Sachs Group decreased their target price on Bigcommerce from $9.50 to $8.50 and set a “neutral” rating on the stock in a research report on Friday, May 9th. Canaccord Genuity Group reissued a “buy” rating and set a $11.00 target price on shares of Bigcommerce in a research report on Friday. Finally, Barclays decreased their price objective on Bigcommerce from $7.00 to $6.00 and set an “underweight” rating on the stock in a report on Monday, April 21st. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Bigcommerce presently has a consensus rating of “Hold” and a consensus price target of $8.07.

Bigcommerce Stock Up 6.5%

CMRC stock opened at $4.78 on Friday. Bigcommerce has a twelve month low of $4.47 and a twelve month high of $7.99. The company has a market cap of $382.87 million, a PE ratio of -21.73 and a beta of 1.15. The business’s 50-day simple moving average is $5.02 and its 200 day simple moving average is $5.57.

Bigcommerce (NASDAQ:CMRC) last released its earnings results on Thursday, July 31st. The company reported $0.04 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.04. The firm had revenue of $84.43 million for the quarter, compared to analyst estimates of $83.30 million. During the same period last year, the business earned $0.05 earnings per share. The firm’s quarterly revenue was up 3.2% compared to the same quarter last year.

Institutional Investors Weigh In On Bigcommerce

A number of institutional investors have recently added to or reduced their stakes in the stock. CWM LLC boosted its holdings in Bigcommerce by 63.4% during the second quarter. CWM LLC now owns 20,399 shares of the company’s stock valued at $102,000 after purchasing an additional 7,917 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in shares of Bigcommerce in the second quarter valued at approximately $76,000. Rhumbline Advisers raised its stake in shares of Bigcommerce by 3.6% in the first quarter. Rhumbline Advisers now owns 101,451 shares of the company’s stock valued at $584,000 after acquiring an additional 3,535 shares during the last quarter. Acadian Asset Management LLC raised its stake in shares of Bigcommerce by 714.4% in the first quarter. Acadian Asset Management LLC now owns 690,548 shares of the company’s stock valued at $3,976,000 after acquiring an additional 605,753 shares during the last quarter. Finally, S Squared Technology LLC raised its stake in shares of Bigcommerce by 1,137.3% in the first quarter. S Squared Technology LLC now owns 618,662 shares of the company’s stock valued at $3,563,000 after acquiring an additional 568,662 shares during the last quarter. 79.21% of the stock is owned by institutional investors and hedge funds.

Bigcommerce Company Profile

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.