BigCommerce (NASDAQ:BIGC) Price Target Cut to $7.00

BigCommerce (NASDAQ:BIGC) had its price objective decreased by stock analysts at Barclays from $10.00 to $7.00 in a report issued on Monday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s price target would indicate a potential upside of 18.85% from the stock’s current price.

A number of other equities research analysts have also recently commented on BIGC. Truist Financial reduced their target price on shares of BigCommerce from $10.00 to $9.00 and set a “hold” rating for the company in a research report on Friday, February 23rd. Needham & Company LLC restated a “buy” rating and set a $20.00 price objective on shares of BigCommerce in a research report on Tuesday, January 30th. Piper Sandler cut their price objective on shares of BigCommerce from $11.00 to $9.00 and set a “neutral” rating for the company in a research report on Friday, February 23rd. The Goldman Sachs Group cut shares of BigCommerce from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $11.50 to $9.50 in a research report on Monday, February 5th. Finally, Bank of America restated an “underperform” rating and set a $7.50 price objective (down from $11.00) on shares of BigCommerce in a research report on Monday, March 25th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $10.50.

BigCommerce Stock Performance

NASDAQ:BIGC opened at $5.89 on Monday. The company has a debt-to-equity ratio of 13.30, a quick ratio of 4.83 and a current ratio of 4.83. The company has a fifty day moving average of $7.43 and a two-hundred day moving average of $8.48. The stock has a market capitalization of $451.17 million, a PE ratio of -6.85 and a beta of 0.80. BigCommerce has a fifty-two week low of $5.81 and a fifty-two week high of $12.75.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in BIGC. Alliancebernstein L.P. lifted its stake in BigCommerce by 84.8% in the third quarter. Alliancebernstein L.P. now owns 5,015,401 shares of the company’s stock worth $74,228,000 after acquiring an additional 2,301,491 shares during the last quarter. Cadian Capital Management LP increased its stake in BigCommerce by 31.0% in the 3rd quarter. Cadian Capital Management LP now owns 6,648,530 shares of the company’s stock valued at $65,621,000 after buying an additional 1,571,938 shares during the period. Norges Bank purchased a new stake in shares of BigCommerce during the 4th quarter worth $10,236,000. Morgan Stanley boosted its position in shares of BigCommerce by 22.5% during the 3rd quarter. Morgan Stanley now owns 4,266,223 shares of the company’s stock worth $42,108,000 after purchasing an additional 782,862 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of BigCommerce by 8.5% during the 4th quarter. Vanguard Group Inc. now owns 9,705,856 shares of the company’s stock worth $94,438,000 after purchasing an additional 762,437 shares in the last quarter. Hedge funds and other institutional investors own 79.21% of the company’s stock.

About BigCommerce

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.