BigCommerce’s (BIGC) Buy Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of BigCommerce (NASDAQ:BIGC) in a research report sent to investors on Friday,Benzinga reports. The brokerage currently has a $10.00 target price on the stock.

Separately, Barclays downgraded shares of BigCommerce from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $8.00 to $7.00 in a research note on Friday, January 10th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $8.14.

BigCommerce Stock Performance

BigCommerce stock opened at $6.23 on Friday. The company has a debt-to-equity ratio of 7.48, a quick ratio of 2.81 and a current ratio of 2.81. BigCommerce has a fifty-two week low of $5.13 and a fifty-two week high of $8.93. The stock has a fifty day moving average of $6.40 and a two-hundred day moving average of $6.18. The company has a market capitalization of $488.31 million, a price-to-earnings ratio of -17.31 and a beta of 1.18.

BigCommerce (NASDAQ:BIGC) last announced its earnings results on Thursday, February 20th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.05). The firm had revenue of $87.03 million during the quarter, compared to analyst estimates of $86.90 million. BigCommerce had a negative net margin of 8.43% and a negative return on equity of 58.18%. On average, analysts anticipate that BigCommerce will post -0.25 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Point72 Asia Singapore Pte. Ltd. acquired a new position in BigCommerce during the fourth quarter worth approximately $35,000. New York State Common Retirement Fund grew its stake in shares of BigCommerce by 105.3% during the 4th quarter. New York State Common Retirement Fund now owns 8,579 shares of the company’s stock valued at $53,000 after buying an additional 4,400 shares during the period. Virtu Financial LLC purchased a new stake in shares of BigCommerce during the 3rd quarter valued at $61,000. Headlands Technologies LLC increased its holdings in shares of BigCommerce by 260.5% during the 4th quarter. Headlands Technologies LLC now owns 9,938 shares of the company’s stock worth $61,000 after buying an additional 7,181 shares during the last quarter. Finally, Sanctuary Advisors LLC purchased a new position in shares of BigCommerce in the 4th quarter worth $66,000. 79.21% of the stock is currently 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.