Commerce.com (NASDAQ:CMRC – Get Free Report)‘s stock had its “hold” rating restated by Canaccord Genuity Group in a research note issued to investors on Friday,Benzinga reports. They presently have a $3.00 price objective on the stock, down from their previous price objective of $6.00. Canaccord Genuity Group’s price target would indicate a potential upside of 29.31% from the company’s previous close.
Several other analysts also recently commented on CMRC. Barclays increased their target price on shares of Commerce.com from $2.00 to $3.00 and gave the company an “underweight” rating in a report on Monday, May 11th. UBS Group reissued a “neutral” rating and set a $3.50 price objective on shares of Commerce.com in a report on Tuesday, July 21st. Weiss Ratings reiterated a “sell (e+)” rating on shares of Commerce.com in a research note on Friday, July 17th. Needham & Company LLC reissued a “buy” rating and issued a $7.50 price objective on shares of Commerce.com in a report on Thursday, April 30th. Finally, Zacks Research cut Commerce.com from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, Commerce.com currently has a consensus rating of “Reduce” and an average target price of $4.20.
Get Our Latest Stock Analysis on Commerce.com
Commerce.com Trading Down 32.0%
Institutional Investors Weigh In On Commerce.com
Several institutional investors have recently made changes to their positions in the stock. Quarry LP purchased a new position in shares of Commerce.com in the fourth quarter valued at $27,000. New York State Common Retirement Fund purchased a new stake in Commerce.com during the 4th quarter worth about $35,000. T3 Companies LLC bought a new position in Commerce.com in the 4th quarter worth about $41,000. Avondale Wealth Management bought a new position in Commerce.com in the 4th quarter worth about $41,000. Finally, Jain Global LLC bought a new position in Commerce.com in the 4th quarter worth about $46,000. Hedge funds and other institutional investors own 79.21% of the company’s stock.
Commerce.com Company Profile
BigCommerce Holdings, Inc operates a software-as-a-service platform for small businesses, mid-markets, and large enterprises in the United States, Europe, the Middle East, Africa, the Asia-Pacific, and internationally. The company’s platform provides various services for launching and scaling e-commerce operation, including store design, catalog management, hosting, checkout, order management, reporting, and pre-integrations. As of December 31, 2021, it served approximately 60,000 online stores across industries.
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