BigCommerce (NASDAQ:BIGC) Receives “Neutral” Rating from Piper Sandler

BigCommerce (NASDAQ:BIGC)‘s stock had its “neutral” rating restated by equities research analysts at Piper Sandler in a research note issued to investors on Thursday, Benzinga reports. They presently have a $11.00 target price on the stock. Piper Sandler’s price objective would suggest a potential upside of 18.28% from the company’s previous close.

BIGC has been the topic of several other reports. Truist Financial reduced their price objective on BigCommerce from $12.00 to $10.00 and set a “hold” rating on the stock in a research note on Thursday, November 9th. UBS Group assumed coverage on BigCommerce in a report on Friday, September 22nd. They issued a “neutral” rating and a $12.00 price target for the company. Morgan Stanley restated an “equal weight” rating and set a $10.00 price target on shares of BigCommerce in a research note on Friday, August 4th. The Goldman Sachs Group reduced their price objective on BigCommerce from $13.00 to $11.50 and set a “buy” rating for the company in a research note on Friday, November 10th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $20.00 price target on shares of BigCommerce in a research note on Thursday, November 9th. Eight equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $11.82.

BigCommerce Price Performance

Shares of BIGC stock opened at $9.30 on Thursday. The firm’s 50-day moving average is $9.65 and its two-hundred day moving average is $9.53. BigCommerce has a 12 month low of $6.81 and a 12 month high of $13.39. The company has a debt-to-equity ratio of 17.08, a current ratio of 5.09 and a quick ratio of 5.09. The company has a market capitalization of $698.43 million, a PE ratio of -7.32 and a beta of 0.82.

BigCommerce (NASDAQ:BIGC) last posted its quarterly earnings data on Wednesday, November 8th. The company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.04. BigCommerce had a negative return on equity of 187.16% and a negative net margin of 31.74%. The firm had revenue of $78.05 million for the quarter, compared to the consensus estimate of $78.12 million. During the same quarter in the previous year, the business earned ($0.30) EPS. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. Analysts predict that BigCommerce will post -0.67 earnings per share for the current year.

Hedge Funds Weigh In On BigCommerce

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BIGC. American International Group Inc. lifted its position in shares of BigCommerce by 3.1% during the 2nd quarter. American International Group Inc. now owns 32,358 shares of the company’s stock worth $322,000 after purchasing an additional 974 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of BigCommerce by 5.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 27,061 shares of the company’s stock valued at $269,000 after purchasing an additional 1,377 shares during the period. Swiss National Bank increased its position in shares of BigCommerce by 1.0% in the 3rd quarter. Swiss National Bank now owns 139,300 shares of the company’s stock valued at $1,375,000 after buying an additional 1,400 shares in the last quarter. HighTower Advisors LLC lifted its stake in BigCommerce by 8.2% in the 1st quarter. HighTower Advisors LLC now owns 18,730 shares of the company’s stock valued at $414,000 after acquiring an additional 1,425 shares in the last quarter. Finally, Advisors Asset Management Inc. boosted its holdings in BigCommerce by 81.9% during the first quarter. Advisors Asset Management Inc. now owns 3,716 shares of the company’s stock worth $81,000 after purchasing an additional 1,673 shares during the last quarter. 72.92% of the stock is owned by institutional investors.

About BigCommerce

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.