Commerce.com (NASDAQ:CMRC) Receives Hold Rating from Canaccord Genuity Group

Commerce.com (NASDAQ:CMRC)‘s stock had its “hold” rating reaffirmed by Canaccord Genuity Group in a report issued on Friday,Benzinga reports. They presently have a $3.00 price target on the stock, down from their prior price target of $6.00. Canaccord Genuity Group’s target price would indicate a potential upside of 29.31% from the stock’s previous close.

A number of other equities research analysts also recently issued reports on CMRC. UBS Group reiterated a “neutral” rating and issued a $3.50 price objective on shares of Commerce.com in a research report on Tuesday, July 21st. Needham & Company LLC restated a “buy” rating and set a $7.50 target price on shares of Commerce.com in a research report on Thursday, April 30th. Zacks Research cut Commerce.com from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. Barclays raised their price target on Commerce.com from $2.00 to $3.00 and gave the company an “underweight” rating in a report on Monday, May 11th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Commerce.com in a report on Friday, July 17th. One research analyst has rated the stock with a Buy rating, three have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $4.20.

Commerce.com Stock Down 32.0%

Shares of NASDAQ:CMRC opened at $2.32 on Friday. The firm has a fifty day moving average price of $2.95 and a two-hundred day moving average price of $2.91. The company has a debt-to-equity ratio of 3.26, a current ratio of 1.98 and a quick ratio of 1.98. Commerce.com has a one year low of $1.95 and a one year high of $5.55. The company has a market cap of $191.43 million, a price-to-earnings ratio of -12.89 and a beta of 1.14.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Quarry LP purchased a new stake in Commerce.com during the fourth quarter valued at about $27,000. New York State Common Retirement Fund bought a new position in shares of Commerce.com during the 4th quarter valued at about $35,000. Williams & Novak LLC purchased a new position in shares of Commerce.com during the 2nd quarter valued at about $38,000. T3 Companies LLC bought a new stake in Commerce.com in the 4th quarter worth approximately $41,000. Finally, Avondale Wealth Management bought a new stake in Commerce.com in the 4th quarter worth approximately $41,000. Institutional investors own 79.21% of the company’s stock.

About Commerce.com

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.