BigCommerce Holdings, Inc. (NASDAQ:BIGC – Get Free Report) shares were down 5.5% on Friday after Truist Financial lowered their price target on the stock from $10.00 to $9.00. Truist Financial currently has a hold rating on the stock. BigCommerce traded as low as $7.78 and last traded at $7.80. Approximately 147,230 shares changed hands during mid-day trading, a decline of 75% from the average daily volume of 589,731 shares. The stock had previously closed at $8.25.
A number of other equities analysts also recently issued reports on the stock. The Goldman Sachs Group downgraded 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 report on Monday, February 5th. Needham & Company LLC reaffirmed a “buy” rating and set a $20.00 price objective on shares of BigCommerce in a report on Tuesday, January 30th. Finally, Piper Sandler cut 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. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $11.61.
Institutional Trading of BigCommerce
Institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its holdings in BigCommerce by 80.9% in the first quarter. JPMorgan Chase & Co. now owns 191,173 shares of the company’s stock valued at $4,188,000 after acquiring an additional 85,493 shares in the last quarter. Raymond James & Associates boosted its holdings in BigCommerce by 87.0% in the first quarter. Raymond James & Associates now owns 10,848 shares of the company’s stock valued at $238,000 after acquiring an additional 5,048 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in BigCommerce by 3.7% in the first quarter. Bank of New York Mellon Corp now owns 625,583 shares of the company’s stock valued at $13,707,000 after acquiring an additional 22,357 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in BigCommerce by 14.1% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 23,621 shares of the company’s stock valued at $518,000 after acquiring an additional 2,911 shares in the last quarter. Finally, HighTower Advisors LLC boosted its holdings in BigCommerce by 8.2% in the first 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. Hedge funds and other institutional investors own 72.92% of the company’s stock.
BigCommerce Trading Down 4.5 %
The firm has a market cap of $599.59 million, a P/E ratio of -6.62 and a beta of 0.83. The firm’s fifty day moving average is $8.74 and its two-hundred day moving average is $9.42. The company has a quick ratio of 5.09, a current ratio of 5.09 and a debt-to-equity ratio of 17.08.
BigCommerce Company Profile
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.