BigCommerce Holdings, Inc. (NASDAQ:BIGC – Get Rating)’s share price gapped down before the market opened on Tuesday after Piper Sandler lowered their price target on the stock from $40.00 to $32.00. The stock had previously closed at $17.82, but opened at $17.18. Piper Sandler currently has an overweight rating on the stock. BigCommerce shares last traded at $17.06, with a volume of 8,493 shares trading hands.
A number of other research analysts also recently weighed in on BIGC. KeyCorp reduced their target price on shares of BigCommerce from $40.00 to $30.00 and set an “overweight” rating for the company in a research report on Tuesday, March 1st. Morgan Stanley dropped their target price on BigCommerce from $57.00 to $26.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 1st. William Blair reaffirmed a “market perform” rating on shares of BigCommerce in a report on Tuesday, March 1st. Bank of America decreased their price objective on BigCommerce from $60.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday, March 1st. Finally, Stifel Nicolaus cut their target price on BigCommerce from $50.00 to $35.00 and set a “buy” rating for the company in a research note on Monday, March 21st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, BigCommerce presently has a consensus rating of “Buy” and an average price target of $37.50.
In related news, CFO Robert Alvarez sold 50,000 shares of BigCommerce stock in a transaction on Friday, April 1st. The shares were sold at an average price of $22.09, for a total value of $1,104,500.00. Following the transaction, the chief financial officer now owns 183,497 shares in the company, valued at approximately $4,053,448.73. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Russell Scott Klein sold 2,500 shares of the business’s stock in a transaction on Tuesday, February 15th. The stock was sold at an average price of $30.75, for a total transaction of $76,875.00. The disclosure for this sale can be found here. In the last three months, insiders sold 216,649 shares of company stock worth $4,493,712. 31.70% of the stock is owned by insiders.
A number of institutional investors have recently made changes to their positions in the business. Tortoise Index Solutions LLC boosted its stake in shares of BigCommerce by 17.4% during the third quarter. Tortoise Index Solutions LLC now owns 1,680 shares of the company’s stock valued at $85,000 after purchasing an additional 249 shares during the period. Creative Planning grew its holdings in BigCommerce by 1.3% in the 3rd quarter. Creative Planning now owns 23,545 shares of the company’s stock worth $1,192,000 after acquiring an additional 300 shares during the last quarter. Swiss National Bank raised its stake in shares of BigCommerce by 0.4% during the third quarter. Swiss National Bank now owns 84,000 shares of the company’s stock valued at $4,254,000 after acquiring an additional 300 shares during the last quarter. Advisor Group Holdings Inc. boosted its holdings in shares of BigCommerce by 1.8% during the third quarter. Advisor Group Holdings Inc. now owns 17,943 shares of the company’s stock worth $908,000 after purchasing an additional 313 shares during the period. Finally, Voya Investment Management LLC grew its stake in shares of BigCommerce by 1.7% in the third quarter. Voya Investment Management LLC now owns 18,739 shares of the company’s stock worth $949,000 after purchasing an additional 322 shares during the last quarter. 79.29% of the stock is currently owned by institutional investors and hedge funds.
The company has a debt-to-equity ratio of 2.43, a quick ratio of 7.24 and a current ratio of 7.24. The business has a 50-day simple moving average of $21.66 and a 200 day simple moving average of $34.32. The firm has a market cap of $1.23 billion, a P/E ratio of -16.65 and a beta of 0.85.
BigCommerce (NASDAQ:BIGC – Get Rating) last announced its earnings results on Monday, February 28th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.06). The business had revenue of $64.90 million for the quarter, compared to the consensus estimate of $61.83 million. BigCommerce had a negative net margin of 34.88% and a negative return on equity of 27.52%. BigCommerce’s revenue was up 50.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.21) EPS. On average, research analysts expect that BigCommerce Holdings, Inc. will post -1.05 EPS for the current year.
BigCommerce Company Profile (NASDAQ:BIGC)
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.