BigCommerce (NASDAQ:BIGC) Price Target Cut to $8.00 by Analysts at Morgan Stanley

BigCommerce (NASDAQ:BIGC) had its target price decreased by Morgan Stanley from $10.00 to $8.00 in a research report sent to investors on Wednesday morning, Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

Several other research firms also recently issued reports on BIGC. The Goldman Sachs Group downgraded shares of BigCommerce from a buy rating to a neutral rating and dropped their price target for the company from $11.50 to $9.50 in a research note on Monday, February 5th. Piper Sandler dropped their price target on shares of BigCommerce from $11.00 to $9.00 and set a neutral rating for the company in a research note on Friday, February 23rd. Bank of America reaffirmed an underperform rating and set a $7.50 price target (down previously from $11.00) on shares of BigCommerce in a research note on Monday, March 25th. Needham & Company LLC reaffirmed a buy rating and set a $20.00 price target on shares of BigCommerce in a research note on Tuesday, January 30th. Finally, Barclays lowered their target price on shares of BigCommerce from $10.00 to $7.00 and set an equal weight rating for the company in a research note on Monday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Hold and a consensus price target of $10.25.

BigCommerce Stock Performance

Shares of BigCommerce stock opened at $5.85 on Wednesday. BigCommerce has a fifty-two week low of $5.81 and a fifty-two week high of $12.75. The company has a debt-to-equity ratio of 13.30, a current ratio of 4.83 and a quick ratio of 4.83. The firm has a market capitalization of $448.11 million, a P/E ratio of -6.80 and a beta of 0.80. The company’s 50 day moving average price is $7.38 and its two-hundred day moving average price is $8.46.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BIGC. Vanguard Group Inc. grew its position in shares of BigCommerce by 8.5% during the 4th quarter. Vanguard Group Inc. now owns 9,705,856 shares of the company’s stock valued at $94,438,000 after acquiring an additional 762,437 shares during the period. Cadian Capital Management LP grew its position in shares of BigCommerce by 13.6% during the 4th quarter. Cadian Capital Management LP now owns 7,553,280 shares of the company’s stock valued at $73,493,000 after acquiring an additional 904,750 shares during the period. Alliancebernstein L.P. grew its position in shares of BigCommerce by 84.8% during the 3rd quarter. Alliancebernstein L.P. now owns 5,015,401 shares of the company’s stock valued at $74,228,000 after acquiring an additional 2,301,491 shares during the period. Morgan Stanley grew its position in shares of BigCommerce by 22.5% during the 3rd quarter. Morgan Stanley now owns 4,266,223 shares of the company’s stock valued at $42,108,000 after acquiring an additional 782,862 shares during the period. Finally, Wasatch Advisors LP lifted its stake in shares of BigCommerce by 1.9% during the 1st quarter. Wasatch Advisors LP now owns 2,277,520 shares of the company’s stock valued at $20,361,000 after buying an additional 41,787 shares in the last quarter. 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.