BigCommerce (NASDAQ:BIGC) Earns “Buy” Rating from Needham & Company LLC

BigCommerce (NASDAQ:BIGC)‘s stock had its “buy” rating reiterated by stock analysts at Needham & Company LLC in a report released on Friday,Benzinga reports. They currently have a $10.00 price target on the stock. Needham & Company LLC’s target price suggests a potential upside of 60.26% from the stock’s current price.

Separately, Barclays cut shares of BigCommerce from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $8.00 to $7.00 in a research report on Friday, January 10th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, BigCommerce currently has a consensus rating of “Hold” and a consensus target price of $8.14.

BigCommerce Stock Performance

NASDAQ:BIGC opened at $6.24 on Friday. The company has a fifty day simple moving average of $6.42 and a two-hundred day simple moving average of $6.18. The company has a market cap of $489.09 million, a price-to-earnings ratio of -17.33 and a beta of 1.18. The company has a quick ratio of 2.81, a current ratio of 2.81 and a debt-to-equity ratio of 7.48. BigCommerce has a 52 week low of $5.13 and a 52 week high of $8.93.

BigCommerce (NASDAQ:BIGC) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.05). BigCommerce had a negative return on equity of 58.18% and a negative net margin of 8.43%. As a group, equities analysts anticipate that BigCommerce will post -0.25 earnings per share for the current fiscal year.

Institutional Investors Weigh In On BigCommerce

A number of institutional investors and hedge funds have recently bought and sold shares of BIGC. Millennium Management LLC lifted its position in BigCommerce by 1,073.1% in the fourth quarter. Millennium Management LLC now owns 1,245,111 shares of the company’s stock valued at $7,620,000 after acquiring an additional 1,138,977 shares during the last quarter. Clearline Capital LP lifted its position in BigCommerce by 69.7% in the third quarter. Clearline Capital LP now owns 1,611,619 shares of the company’s stock valued at $9,428,000 after acquiring an additional 661,688 shares during the last quarter. Divisar Capital Management LLC lifted its position in BigCommerce by 48.5% in the fourth quarter. Divisar Capital Management LLC now owns 1,872,031 shares of the company’s stock valued at $11,457,000 after acquiring an additional 611,811 shares during the last quarter. Sovereign s Capital Management LLC purchased a new stake in BigCommerce in the fourth quarter valued at $2,586,000. Finally, Rice Hall James & Associates LLC purchased a new stake in BigCommerce in the fourth quarter valued at $2,296,000. 79.21% of the stock is owned by hedge funds and other 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.