BigCommerce (NASDAQ:BIGC) Price Target Cut to $6.00 by Analysts at Barclays

BigCommerce (NASDAQ:BIGC) had its target price reduced by research analysts at Barclays from $7.00 to $6.00 in a research note issued on Monday,Benzinga reports. The firm currently has an “underweight” rating on the stock. Barclays‘s price target indicates a potential upside of 17.88% from the stock’s current price.

Several other research analysts also recently weighed in on the company. Morgan Stanley dropped their price target on BigCommerce from $8.00 to $7.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 16th. Needham & Company LLC reiterated a “buy” rating and issued a $10.00 target price on shares of BigCommerce in a report on Wednesday, March 12th. Two analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, BigCommerce currently has a consensus rating of “Hold” and a consensus target price of $7.40.

BigCommerce Price Performance

BIGC stock opened at $5.09 on Monday. The company has a debt-to-equity ratio of 7.48, a quick ratio of 2.81 and a current ratio of 2.81. The company has a market cap of $400.07 million, a price-to-earnings ratio of -14.54 and a beta of 1.17. The business’s 50-day moving average is $6.06 and its two-hundred day moving average is $6.22. BigCommerce has a fifty-two week low of $4.91 and a fifty-two week high of $8.60.

BigCommerce (NASDAQ:BIGC) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.05). BigCommerce had a negative net margin of 8.12% and a negative return on equity of 52.65%. The company had revenue of $87.03 million for the quarter, compared to the consensus estimate of $86.90 million. As a group, analysts forecast that BigCommerce will post -0.16 earnings per share for the current year.

Insiders Place Their Bets

In other BigCommerce news, Director Ellen F. Siminoff acquired 177,158 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The shares were bought at an average cost of $6.64 per share, with a total value of $1,176,329.12. Following the completion of the acquisition, the director now directly owns 253,333 shares in the company, valued at $1,682,131.12. This represents a 232.57 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 9.06% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in BIGC. GAMMA Investing LLC grew its stake in shares of BigCommerce by 8,196.8% during the first quarter. GAMMA Investing LLC now owns 5,144 shares of the company’s stock worth $30,000 after acquiring an additional 5,082 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in BigCommerce during the fourth quarter valued at approximately $35,000. New York State Common Retirement Fund boosted its holdings in BigCommerce by 105.3% during the fourth quarter. New York State Common Retirement Fund now owns 8,579 shares of the company’s stock worth $53,000 after buying an additional 4,400 shares in the last quarter. Next Level Private LLC purchased a new stake in shares of BigCommerce during the 1st quarter worth about $58,000. Finally, Virtu Financial LLC acquired a new stake in BigCommerce in the third quarter valued at approximately $61,000. 79.21% of the stock is currently owned by hedge funds and other institutional investors.

About BigCommerce

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.