Morgan Stanley Lowers BigCommerce (NASDAQ:BIGC) Price Target to $8.00

BigCommerce (NASDAQ:BIGC) had its target price reduced by Morgan Stanley from $10.00 to $8.00 in a research note released on Wednesday morning, Benzinga reports. They currently have an equal weight rating on the stock.

Several other analysts have also issued reports on the stock. Bank of America restated an underperform rating and set a $7.50 target price (down from $11.00) on shares of BigCommerce in a research report on Monday, March 25th. Needham & Company LLC restated a buy rating and set a $20.00 target price on shares of BigCommerce in a research report on Tuesday, January 30th. Truist Financial cut 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. The Goldman Sachs Group downgraded shares of BigCommerce from a buy rating to a neutral rating and lowered their price target for the company from $11.50 to $9.50 in a report on Monday, February 5th. Finally, Piper Sandler lowered their price target on shares of BigCommerce from $11.00 to $9.00 and set a neutral rating on the stock in a report on Friday, February 23rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and an average target price of $10.25.

BigCommerce Stock Performance

Shares of BIGC stock opened at $5.85 on Wednesday. The company has a 50 day moving average price of $7.38 and a 200-day moving average price of $8.46. BigCommerce has a 52 week low of $5.81 and a 52 week high of $12.75. The firm has a market capitalization of $448.11 million, a PE ratio of -6.80 and a beta of 0.80. The company has a quick ratio of 4.83, a current ratio of 4.83 and a debt-to-equity ratio of 13.30.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of BIGC. Tower Research Capital LLC TRC increased 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 acquiring an additional 1,792 shares during the last quarter. Lazard Asset Management LLC bought a new position in BigCommerce during the third quarter valued at $74,000. Advisors Asset Management Inc. increased its position in BigCommerce by 81.9% during the first quarter. Advisors Asset Management Inc. now owns 3,716 shares of the company’s stock valued at $81,000 after acquiring an additional 1,673 shares during the last quarter. State of Wyoming increased its position in BigCommerce by 291.0% during the fourth quarter. State of Wyoming now owns 10,779 shares of the company’s stock valued at $94,000 after acquiring an additional 8,022 shares during the last quarter. Finally, GSA Capital Partners LLP bought a new position in BigCommerce during the fourth quarter valued at $97,000. 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.