Commerce.com (NASDAQ:CMRC) Given New $7.50 Price Target at Needham & Company LLC

Commerce.com (NASDAQ:CMRC) had its price objective dropped by research analysts at Needham & Company LLC from $10.00 to $7.50 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 162.70% from the company’s current price.

Several other research firms have also issued reports on CMRC. Barclays dropped their price objective on Commerce.com from $3.00 to $2.00 and set an “underweight” rating for the company in a research note on Tuesday, February 17th. Wall Street Zen lowered Commerce.com from a “strong-buy” rating to a “buy” rating in a research note on Saturday, March 7th. Canaccord Genuity Group dropped their price objective on Commerce.com from $11.00 to $6.00 and set a “buy” rating for the company in a research note on Friday, February 13th. Zacks Research lowered Commerce.com from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 22nd. Finally, Morgan Stanley lowered Commerce.com from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $6.50 to $4.00 in a research note on Tuesday, January 20th. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of $5.17.

Commerce.com Price Performance

Commerce.com stock traded up $0.13 during mid-day trading on Wednesday, hitting $2.86. 282,321 shares of the company were exchanged, compared to its average volume of 1,004,546. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 3.89. The business has a fifty day moving average of $2.83 and a 200 day moving average of $3.90. Commerce.com has a 1-year low of $2.41 and a 1-year high of $5.75. The company has a market capitalization of $234.68 million, a PE ratio of -12.41, a price-to-earnings-growth ratio of 0.95 and a beta of 1.16.

Insider Buying and Selling at Commerce.com

In other Commerce.com news, insider Ellen F. Siminoff bought 100,000 shares of the stock in a transaction dated Tuesday, February 17th. The stock was bought at an average cost of $2.94 per share, for a total transaction of $294,000.00. Following the completion of the purchase, the insider owned 353,333 shares in the company, valued at $1,038,799.02. This represents a 39.47% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 9.06% of the company’s stock.

Institutional Trading of Commerce.com

A number of hedge funds and other institutional investors have recently made changes to their positions in CMRC. Geode Capital Management LLC acquired a new stake in shares of Commerce.com in the fourth quarter valued at $6,605,000. Marshall Wace LLP bought a new stake in Commerce.com during the 4th quarter worth about $6,188,000. State Street Corp bought a new stake in Commerce.com during the 4th quarter worth about $5,867,000. Potrero Capital Research LLC acquired a new position in Commerce.com during the 4th quarter valued at about $5,831,000. Finally, M&T Bank Corp acquired a new position in Commerce.com during the 4th quarter valued at about $5,679,000. 79.21% of the stock is currently owned by institutional investors and hedge funds.

Commerce.com 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. As of December 31, 2021, it served approximately 60,000 online stores across industries.