BigCommerce (NASDAQ:BIGC) Shares Up 6.2% – Still a Buy?

BigCommerce Holdings, Inc. (NASDAQ:BIGC) was up 6.2% during trading on Wednesday . The company traded as high as $7.92 and last traded at $7.91. Approximately 260,412 shares changed hands during trading, a decline of 68% from the average daily volume of 809,995 shares. The stock had previously closed at $7.45.

Wall Street Analysts Forecast Growth

BIGC has been the topic of several research reports. Stifel Nicolaus decreased their price target on shares of BigCommerce from $10.00 to $8.00 and set a “buy” rating on the stock in a research note on Thursday, October 3rd. Bank of America decreased their target price on shares of BigCommerce from $8.00 to $6.00 and set an “underperform” rating on the stock in a research report on Thursday, August 29th. Barclays upped their price target on shares of BigCommerce from $7.00 to $8.00 and gave the company an “equal weight” rating in a research report on Friday, December 6th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $10.00 price objective on shares of BigCommerce in a report on Monday. One analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $8.44.

BigCommerce Stock Performance

The business’s fifty day simple moving average is $6.27 and its 200-day simple moving average is $6.70. The firm has a market cap of $551.80 million, a P/E ratio of -20.14 and a beta of 1.15. The company has a current ratio of 2.81, a quick ratio of 2.81 and a debt-to-equity ratio of 7.48.

Institutional Trading of BigCommerce

Several large investors have recently modified their holdings of BIGC. Canada Pension Plan Investment Board purchased a new stake in BigCommerce in the 2nd quarter worth approximately $35,000. Virtu Financial LLC purchased a new stake in BigCommerce in the third quarter worth $61,000. AQR Capital Management LLC bought a new stake in BigCommerce in the second quarter valued at $121,000. HighTower Advisors LLC boosted its holdings in BigCommerce by 16.8% in the third quarter. HighTower Advisors LLC now owns 15,310 shares of the company’s stock valued at $89,000 after acquiring an additional 2,200 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new position in BigCommerce during the 3rd quarter valued at $920,000. 79.21% of the stock is owned by institutional investors.

BigCommerce Company Profile

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.