BigCommerce (NASDAQ:BIGC) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of BigCommerce (NASDAQ:BIGC) from a buy rating to a strong-buy rating in a research note released on Saturday morning.

Several other equities analysts also recently issued reports on the company. Barclays cut their target price on BigCommerce from $7.00 to $6.00 and set an “underweight” rating on the stock in a research report on Monday, April 21st. The Goldman Sachs Group cut their target price on BigCommerce from $9.50 to $8.50 and set a “neutral” rating on the stock in a research report on Friday, May 9th. Morgan Stanley cut their target price on BigCommerce from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 16th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $10.00 target price on shares of BigCommerce in a research report on Wednesday, March 12th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $7.58.

BigCommerce Stock Performance

Shares of BIGC stock opened at $4.92 on Friday. The business’s fifty day simple moving average is $5.15 and its 200-day simple moving average is $5.97. The company has a market cap of $394.08 million, a PE ratio of -14.06 and a beta of 1.16. The company has a current ratio of 2.81, a quick ratio of 2.81 and a debt-to-equity ratio of 7.48. BigCommerce has a 12-month low of $4.74 and a 12-month high of $8.50.

BigCommerce (NASDAQ:BIGC) last released its earnings results on Thursday, May 8th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.01. BigCommerce had a negative return on equity of 52.65% and a negative net margin of 8.12%. The firm had revenue of $82.37 million for the quarter, compared to the consensus estimate of $82.48 million. During the same period in the prior year, the firm earned $0.07 EPS. The firm’s revenue was up 2.5% on a year-over-year basis. Analysts expect that BigCommerce will post -0.16 earnings per share for the current fiscal year.

Institutional Investors Weigh In On BigCommerce

Several hedge funds have recently added to or reduced their stakes in BIGC. Sanctuary Advisors LLC purchased a new stake in BigCommerce in the fourth quarter valued at $66,000. Rice Hall James & Associates LLC purchased a new stake in BigCommerce in the fourth quarter valued at $2,296,000. New York State Common Retirement Fund boosted its stake in shares of BigCommerce by 105.3% during the 4th quarter. New York State Common Retirement Fund now owns 8,579 shares of the company’s stock worth $53,000 after acquiring an additional 4,400 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of 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 worth $7,730,000 after acquiring an additional 42,920 shares in the last quarter. Finally, US Bancorp DE boosted its stake in shares of BigCommerce by 15,736.8% during the 4th quarter. US Bancorp DE now owns 19,796 shares of the company’s stock worth $121,000 after acquiring an additional 19,671 shares in the last quarter. 79.21% of the stock is 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.