BigCommerce (NASDAQ:BIGC) Downgraded by Wall Street Zen to Buy

BigCommerce (NASDAQ:BIGC) was downgraded by research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report issued on Saturday.

Other analysts also recently issued reports about the company. Needham & Company LLC restated a “buy” rating and issued a $10.00 price target on shares of BigCommerce in a research report on Wednesday, March 12th. Morgan Stanley lowered their target price on shares of BigCommerce from $8.00 to $7.00 and set an “equal weight” rating for the company in a report on Wednesday, April 16th. The Goldman Sachs Group lowered their target price on shares of BigCommerce from $9.50 to $8.50 and set a “neutral” rating for the company in a report on Friday, May 9th. Finally, Barclays decreased their price objective on shares of BigCommerce from $7.00 to $6.00 and set an “underweight” rating for the company in a research note on Monday, April 21st. Two analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $7.58.

BigCommerce Stock Up 0.7%

Shares of NASDAQ:BIGC opened at $5.09 on Friday. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 4.14. BigCommerce has a 12 month low of $4.73 and a 12 month high of $8.50. The company has a 50-day moving average price of $5.08 and a 200 day moving average price of $5.75. The company has a market cap of $407.31 million, a price-to-earnings ratio of -18.83 and a beta of 1.15.

BigCommerce (NASDAQ:BIGC) last announced its earnings results on Thursday, May 8th. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.01. The firm had revenue of $82.37 million during the quarter, compared to analysts’ expectations of $82.48 million. BigCommerce had a negative return on equity of 33.21% and a negative net margin of 6.27%. The company’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.07 EPS. As a group, equities research analysts predict that BigCommerce will post -0.16 earnings per share for the current year.

Institutional Trading of BigCommerce

Several institutional investors and hedge funds have recently made changes to their positions in BIGC. Divisar Capital Management LLC lifted its holdings in BigCommerce by 48.5% during the 4th quarter. Divisar Capital Management LLC now owns 1,872,031 shares of the company’s stock valued at $11,457,000 after buying an additional 611,811 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in BigCommerce by 3.5% during the 4th quarter. Bank of New York Mellon Corp now owns 1,263,093 shares of the company’s stock valued at $7,730,000 after buying an additional 42,920 shares in the last quarter. Millennium Management LLC lifted its holdings in BigCommerce by 1,073.1% during the 4th quarter. Millennium Management LLC now owns 1,245,111 shares of the company’s stock valued at $7,620,000 after buying an additional 1,138,977 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of BigCommerce by 55.7% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,083,965 shares of the company’s stock valued at $6,244,000 after acquiring an additional 387,836 shares in the last quarter. Finally, Deutsche Bank AG raised its stake in shares of BigCommerce by 1.5% during the fourth quarter. Deutsche Bank AG now owns 990,275 shares of the company’s stock valued at $6,060,000 after acquiring an additional 14,772 shares in the last quarter. 79.21% of the stock is currently owned by institutional investors.

BigCommerce Company Profile

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.