Barclays Trims BigCommerce (NASDAQ:BIGC) Target Price to $7.00

BigCommerce (NASDAQ:BIGC) had its price target trimmed by Barclays from $10.00 to $7.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has an equal weight rating on the stock.

BIGC has been the subject of several other reports. Piper Sandler decreased their target price 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 lowered BigCommerce from a buy rating to a neutral rating and decreased their price objective for the stock from $11.50 to $9.50 in a report on Monday, February 5th. Bank of America restated an underperform rating and issued a $7.50 target price (down previously from $11.00) on shares of BigCommerce in a report on Monday, March 25th. Needham & Company LLC reiterated a buy rating and set a $20.00 price target on shares of BigCommerce in a report on Tuesday, January 30th. Finally, Truist Financial lowered their price target on BigCommerce from $10.00 to $9.00 and set a hold rating for the company in a research report on Friday, February 23rd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, BigCommerce presently has an average rating of Hold and an average price target of $10.25.

BigCommerce Stock Performance

NASDAQ BIGC opened at $5.85 on Monday. The company has a current ratio of 4.83, a quick ratio of 4.83 and a debt-to-equity ratio of 13.30. The company has a fifty day simple moving average of $7.38 and a 200 day simple moving average of $8.46. BigCommerce has a 12-month low of $5.81 and a 12-month high of $12.75. The company has a market cap of $448.11 million, a P/E ratio of -6.80 and a beta of 0.80.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of BIGC. Alliancebernstein L.P. lifted its position in shares of BigCommerce by 84.8% during 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 in the last quarter. Cadian Capital Management LP raised its stake in shares of BigCommerce by 31.0% during the 3rd quarter. Cadian Capital Management LP now owns 6,648,530 shares of the company’s stock valued at $65,621,000 after purchasing an additional 1,571,938 shares during the period. Norges Bank purchased a new stake in BigCommerce during the 4th quarter worth about $10,236,000. Morgan Stanley grew its holdings in BigCommerce by 22.5% during the 3rd quarter. Morgan Stanley now owns 4,266,223 shares of the company’s stock valued at $42,108,000 after buying an additional 782,862 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in BigCommerce by 8.5% during the 4th quarter. Vanguard Group Inc. now owns 9,705,856 shares of the company’s stock valued at $94,438,000 after buying an additional 762,437 shares in the last quarter. 79.21% of the stock is owned by institutional investors.

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.