BigCommerce (NASDAQ:BIGC) Announces Quarterly Earnings Results

BigCommerce (NASDAQ:BIGC) released its earnings results on Thursday. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.03 by $0.02, Briefing.com reports. The firm had revenue of $81.83 million for the quarter, compared to analysts’ expectations of $81.13 million. BigCommerce had a negative net margin of 12.68% and a negative return on equity of 82.39%. BigCommerce’s quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter last year, the company earned ($0.17) EPS. BigCommerce updated its FY 2024 guidance to EPS and its Q3 2024 guidance to EPS.

BigCommerce Price Performance

Shares of BIGC traded down $0.67 during mid-day trading on Friday, hitting $6.17. The company’s stock had a trading volume of 1,112,126 shares, compared to its average volume of 585,942. The firm has a 50-day moving average price of $7.92 and a 200 day moving average price of $7.57. The stock has a market capitalization of $476.82 million, a price-to-earnings ratio of -9.64 and a beta of 1.00. The company has a debt-to-equity ratio of 13.04, a current ratio of 4.51 and a quick ratio of 5.06. BigCommerce has a fifty-two week low of $5.62 and a fifty-two week high of $12.75.

Insider Transactions at BigCommerce

In other news, insider Brent Bellm sold 31,907 shares of BigCommerce stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $8.35, for a total value of $266,423.45. Following the transaction, the insider now directly owns 719,939 shares of the company’s stock, valued at $6,011,490.65. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider Brent Bellm sold 31,907 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $8.35, for a total transaction of $266,423.45. Following the transaction, the insider now directly owns 719,939 shares of the company’s stock, valued at $6,011,490.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Brian Singh Dhatt sold 5,787 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $8.35, for a total transaction of $48,321.45. Following the transaction, the chief technology officer now directly owns 240,841 shares in the company, valued at $2,011,022.35. The disclosure for this sale can be found here. 9.06% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have commented on BIGC. Barclays raised their target price on shares of BigCommerce from $7.00 to $8.00 and gave the company an “equal weight” rating in a research note on Friday, May 10th. Morgan Stanley lowered their target price on shares of BigCommerce from $10.00 to $8.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 17th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $14.00 price objective on shares of BigCommerce in a research note on Friday. One research analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $9.63.

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.