BigCommerce (NASDAQ:BIGC) Reaches New 1-Year Low After Analyst Downgrade

BigCommerce Holdings, Inc. (NASDAQ:BIGC) reached a new 52-week low during trading on Tuesday after Needham & Company LLC lowered their price target on the stock from $132.00 to $85.00. Needham & Company LLC currently has a buy rating on the stock. BigCommerce traded as low as $53.38 and last traded at $63.69, with a volume of 163114 shares. The stock had previously closed at $68.25.

Other equities research analysts have also recently issued research reports about the stock. Guggenheim initiated coverage on shares of BigCommerce in a research report on Monday, October 26th. They set a “sell” rating and a $65.00 price objective on the stock. William Blair initiated coverage on shares of BigCommerce in a research report on Tuesday, January 12th. They set a “market perform” rating on the stock. Morgan Stanley lifted their price objective on shares of BigCommerce from $53.00 to $55.00 and gave the company an “underweight” rating in a research report on Friday, November 6th. Piper Sandler started coverage on shares of BigCommerce in a research report on Wednesday, November 18th. They set an “overweight” rating and a $83.00 price objective on the stock. Finally, Zacks Investment Research lowered shares of BigCommerce from a “buy” rating to a “hold” rating in a report on Tuesday, November 10th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $81.81.

A number of hedge funds and other institutional investors have recently bought and sold shares of BIGC. General Catalyst Group Management LLC purchased a new position in BigCommerce during the fourth quarter worth $529,459,000. BlackRock Inc. purchased a new position in BigCommerce during the third quarter worth $50,839,000. Alliancebernstein L.P. boosted its stake in BigCommerce by 167.4% during the fourth quarter. Alliancebernstein L.P. now owns 931,425 shares of the company’s stock worth $59,751,000 after buying an additional 583,157 shares during the period. Caas Capital Management LP purchased a new position in BigCommerce during the fourth quarter worth $36,009,000. Finally, Price T Rowe Associates Inc. MD purchased a new position in BigCommerce during the fourth quarter worth $24,518,000. 19.00% of the stock is owned by institutional investors.

The company has a debt-to-equity ratio of 0.06, a quick ratio of 4.06 and a current ratio of 4.06. The company’s 50 day simple moving average is $72.48.

BigCommerce (NASDAQ:BIGC) last issued its earnings results on Sunday, February 21st. The company reported ($0.12) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.14) by $0.02. The company had revenue of $32.90 million for the quarter, compared to analysts’ expectations of $38.58 million. BigCommerce’s quarterly revenue was up 43.0% compared to the same quarter last year. As a group, analysts anticipate that BigCommerce Holdings, Inc. will post -1.01 EPS for the current fiscal year.

BigCommerce Company Profile (NASDAQ:BIGC)

BigCommerce Holdings, Inc operates a software-as-a-service platform in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company's platform simplifies the creation of engaging online stores. It powers its customers' branded ecommerce stores and their cross-channel connections to various online marketplaces, social networks, and offline point-of-sale systems.

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