Stifel Nicolaus Trims BigCommerce (NASDAQ:BIGC) Target Price to $8.00

BigCommerce (NASDAQ:BIGC) had its target price decreased by Stifel Nicolaus from $10.00 to $8.00 in a research note issued to investors on Thursday morning, Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.

Several other research firms have also recently commented on BIGC. Needham & Company LLC reaffirmed a buy rating and issued a $14.00 price target on shares of BigCommerce in a report on Wednesday, August 28th. Barclays cut their target price on BigCommerce from $8.00 to $7.00 and set an equal weight rating for the company in a research note on Monday, August 5th. Finally, Bank of America decreased their price target on shares of BigCommerce from $8.00 to $6.00 and set an underperform rating on the stock in a research note on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of $8.81.

BigCommerce Stock Up 3.9 %

BIGC opened at $5.84 on Thursday. The business has a 50 day moving average of $5.98 and a 200-day moving average of $6.87. The stock has a market capitalization of $451.29 million, a price-to-earnings ratio of -9.13 and a beta of 0.98. The company has a current ratio of 4.51, a quick ratio of 4.51 and a debt-to-equity ratio of 13.04. BigCommerce has a 1-year low of $5.35 and a 1-year high of $10.29.

BigCommerce (NASDAQ:BIGC) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.02. BigCommerce had a negative net margin of 12.68% and a negative return on equity of 82.39%. The firm had revenue of $81.83 million during the quarter, compared to the consensus estimate of $81.13 million. During the same period in the prior year, the firm earned ($0.17) EPS. The business’s revenue was up 8.5% on a year-over-year basis. As a group, sell-side analysts anticipate that BigCommerce will post -0.3 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of BIGC. Susquehanna Fundamental Investments LLC boosted its stake in shares of BigCommerce by 222.0% in the 1st quarter. Susquehanna Fundamental Investments LLC now owns 124,498 shares of the company’s stock valued at $858,000 after purchasing an additional 85,840 shares in the last quarter. Vanguard Group Inc. lifted its holdings in 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 purchasing an additional 762,437 shares during the last quarter. Cadian Capital Management LP boosted its position in BigCommerce by 13.6% in the fourth quarter. Cadian Capital Management LP now owns 7,553,280 shares of the company’s stock valued at $73,493,000 after buying an additional 904,750 shares in the last quarter. Norges Bank bought a new stake in BigCommerce during the fourth quarter worth about $10,236,000. Finally, Divisar Capital Management LLC acquired a new stake in shares of BigCommerce during the second quarter worth approximately $4,274,000. 79.21% of the stock is currently owned by institutional investors and hedge funds.

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.