Bank of America Reiterates Underperform Rating for BigCommerce (NASDAQ:BIGC)

BigCommerce (NASDAQ:BIGCGet Free Report)‘s stock had its “underperform” rating reaffirmed by research analysts at Bank of America in a research note issued to investors on Monday, Marketbeat Ratings reports. They presently have a $7.50 target price on the stock, down from their previous target price of $11.00. Bank of America‘s price target indicates a potential upside of 3.02% from the stock’s previous close.

BIGC has been the topic of a number of other research reports. The Goldman Sachs Group lowered BigCommerce from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $11.50 to $9.50 in a research note on Monday, February 5th. Truist Financial reduced their target price on BigCommerce from $10.00 to $9.00 and set a “hold” rating on the stock in a research note on Friday, February 23rd. Needham & Company LLC reiterated a “buy” rating and issued a $20.00 target price on shares of BigCommerce in a research note on Tuesday, January 30th. Finally, Piper Sandler dropped their price target on BigCommerce from $11.00 to $9.00 and set a “neutral” rating on the stock in a research report on Friday, February 23rd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, BigCommerce has a consensus rating of “Hold” and an average target price of $11.13.

View Our Latest Stock Report on BigCommerce

BigCommerce Stock Performance

NASDAQ:BIGC opened at $7.28 on Monday. The stock’s fifty day moving average is $8.02 and its 200 day moving average is $8.92. BigCommerce has a fifty-two week low of $6.81 and a fifty-two week high of $12.75. The company has a debt-to-equity ratio of 13.30, a quick ratio of 4.83 and a current ratio of 4.83.

Institutional Investors Weigh In On BigCommerce

Institutional investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC boosted its position in BigCommerce by 93.4% during the second quarter. Tower Research Capital LLC TRC now owns 3,711 shares of the company’s stock valued at $37,000 after purchasing an additional 1,792 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in BigCommerce in the third quarter valued at about $74,000. Advisors Asset Management Inc. raised its stake in BigCommerce by 81.9% in the first quarter. Advisors Asset Management Inc. now owns 3,716 shares of the company’s stock valued at $81,000 after buying an additional 1,673 shares during the last quarter. State of Wyoming raised its stake in BigCommerce by 291.0% in the fourth quarter. State of Wyoming now owns 10,779 shares of the company’s stock valued at $94,000 after buying an additional 8,022 shares during the last quarter. Finally, GSA Capital Partners LLP purchased a new position in shares of BigCommerce in the fourth quarter worth about $97,000. Institutional investors own 79.21% of the company’s stock.

BigCommerce Company Profile

(Get Free Report)

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.

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