BigCommerce (NASDAQ:BIGC) Rating Lowered to Underweight at Barclays

Barclays lowered shares of BigCommerce (NASDAQ:BIGC) from an equal weight rating to an underweight rating in a report issued on Friday, MarketBeat.com reports. The brokerage currently has $7.00 price objective on the stock, down from their previous price objective of $8.00.

BIGC has been the subject of several other research reports. Needham & Company LLC reiterated a “buy” rating and issued a $10.00 price objective on shares of BigCommerce in a report on Monday, December 9th. Stifel Nicolaus dropped their price target on BigCommerce from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Thursday, October 3rd. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, BigCommerce currently has an average rating of “Hold” and an average price target of $8.31.

BigCommerce Stock Performance

Shares of NASDAQ:BIGC opened at $6.09 on Friday. The company has a current ratio of 2.81, a quick ratio of 2.81 and a debt-to-equity ratio of 7.48. The company has a 50-day moving average price of $6.60 and a 200-day moving average price of $6.47. The company has a market cap of $477.33 million, a price-to-earnings ratio of -16.92 and a beta of 1.18. BigCommerce has a 12 month low of $5.13 and a 12 month high of $8.98.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Rhumbline Advisers increased its stake in shares of BigCommerce by 8.4% during the second quarter. Rhumbline Advisers now owns 101,556 shares of the company’s stock valued at $819,000 after purchasing an additional 7,849 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in BigCommerce during the 2nd quarter valued at approximately $35,000. Marshall Wace LLP purchased a new position in BigCommerce during the second quarter valued at $773,000. 272 Capital LP boosted its holdings in BigCommerce by 40.0% in the second quarter. 272 Capital LP now owns 884,750 shares of the company’s stock worth $7,131,000 after acquiring an additional 252,946 shares in the last quarter. Finally, AQR Capital Management LLC purchased a new stake in shares of BigCommerce in the second quarter worth $121,000. 79.21% of the stock is owned by hedge funds and other 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.