BigCommerce (NASDAQ:BIGC) Price Target Cut to $7.00

Market Beat
2024.08.06 15:50

Barclays reduced the target price for BigCommerce stock from $8.00 to $7.00 and gave it an "equal weight" rating. Other analysts also weighed in on the stock, with Needham & Company LLC reiterating a "buy" rating and Morgan Stanley dropping their price objective. BigCommerce had its target price lowered due to its recent earnings report, which beat the consensus estimate. The company's stock remained flat at $5.93 on Monday.

BigCommerce (NASDAQ:BIGC - Get Free Report) had its target price lowered by stock analysts at Barclays from $8.00 to $7.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Barclays's target price indicates a potential upside of 18.04% from the company's previous close.

  • BigCommerce Stock Dip is a Big Opportunity

Several other analysts also recently weighed in on the stock. Needham & Company LLC reiterated a "buy" rating and issued a $14.00 target price on shares of BigCommerce in a report on Friday. Morgan Stanley dropped their price objective on BigCommerce from $10.00 to $8.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 17th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, BigCommerce presently has an average rating of "Hold" and an average target price of $9.50.

Read Our Latest Analysis on BIGC

BigCommerce Stock Performance

  • BigCommerce NASDAQ: BIGC Stock Providing Big Opportunities After Earnings Plunge

Shares of BigCommerce stock remained flat at $5.93 during trading hours on Monday. The stock had a trading volume of 182,917 shares, compared to its average volume of 692,728. The company has a market cap of $458.24 million, a PE ratio of -9.27 and a beta of 1.00. The company has a debt-to-equity ratio of 13.04, a quick ratio of 5.06 and a current ratio of 4.51. BigCommerce has a twelve month low of $5.50 and a twelve month high of $12.34. The company's fifty day simple moving average is $7.87 and its two-hundred day simple moving average is $7.55.

BigCommerce (NASDAQ:BIGC - Get Free Report) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.02. The firm had revenue of $81.83 million for the quarter, compared to analyst estimates of $81.13 million. BigCommerce had a negative net margin of 12.68% and a negative return on equity of 82.39%. BigCommerce's revenue was up 8.5% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.17) EPS. On average, sell-side analysts expect that BigCommerce will post -0.31 earnings per share for the current fiscal year.

Insider Activity

  • BigCommerce NASDAQ: BIGC Stock Breaking Out: The Next Big Thing in E-commerce?

In related news, CTO Brian Singh Dhatt sold 5,787 shares of the business's stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $8.35, for a total transaction of $48,321.45. Following the completion of the transaction, the chief technology officer now directly owns 240,841 shares of the company's stock, valued at approximately $2,011,022.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Brent Bellm sold 31,907 shares of BigCommerce stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $8.35, for a total transaction of $266,423.45. Following the completion of the sale, the insider now directly owns 719,939 shares of the company's stock, valued at approximately $6,011,490.65. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Brian Singh Dhatt sold 5,787 shares of the company's stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $8.35, for a total value of $48,321.45. Following the transaction, the chief technology officer now directly owns 240,841 shares of the company's stock, valued at $2,011,022.35. The disclosure for this sale can be found here. Insiders own 9.06% of the company's stock.

Hedge Funds Weigh In On BigCommerce

Several hedge funds have recently made changes to their positions in BIGC. Acadian Asset Management LLC acquired a new stake in BigCommerce during the 1st quarter worth $80,000. Versor Investments LP purchased a new stake in shares of BigCommerce in the fourth quarter valued at about $129,000. Virtu Financial LLC acquired a new stake in shares of BigCommerce during the first quarter worth about $104,000. Bayesian Capital Management LP purchased a new position in shares of BigCommerce during the first quarter worth about $144,000. Finally, Catalytic Wealth RIA LLC acquired a new position in BigCommerce in the 2nd quarter valued at about $188,000. Hedge funds and other institutional investors own 79.21% of the company's stock.

BigCommerce Company Profile

(Get Free Report)

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.

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