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

Needham & Company LLC reiterated their buy rating on shares of BigCommerce (NASDAQ:BIGC) in a report issued on Thursday morning, Benzinga reports. Needham & Company LLC currently has a $14.00 price objective on the stock.

Other equities research analysts have also recently issued reports about the stock. Barclays lowered their price objective on shares of BigCommerce from $8.00 to $7.00 and set an equal weight rating on the stock in a research note on Monday, August 5th. Bank of America reduced their price target on shares of BigCommerce from $8.00 to $6.00 and set an underperform rating on the stock in a report on Thursday, August 29th. Finally, Stifel Nicolaus dropped their price objective on shares of BigCommerce from $10.00 to $8.00 and set a buy rating for the company in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of $8.81.

BigCommerce Stock Up 3.9 %

BIGC stock opened at $5.84 on Thursday. BigCommerce has a 52 week low of $5.35 and a 52 week high of $10.29. The company has a current ratio of 4.51, a quick ratio of 4.51 and a debt-to-equity ratio of 13.04. The company has a market cap of $451.29 million, a P/E ratio of -9.13 and a beta of 0.98. The company’s 50-day moving average price is $5.98 and its 200 day moving average price is $6.87.

BigCommerce (NASDAQ:BIGC) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02. The business had revenue of $81.83 million for the quarter, compared to analysts’ expectations of $81.13 million. BigCommerce had a negative return on equity of 82.39% and a negative net margin of 12.68%. The company’s revenue was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.17) EPS. On average, research analysts expect that BigCommerce will post -0.3 earnings per share for the current fiscal year.

Hedge Funds Weigh In On BigCommerce

Several institutional investors and hedge funds have recently modified their holdings of the company. Norges Bank purchased a new position in shares of BigCommerce during the 4th quarter worth $10,236,000. Cadian Capital Management LP increased its stake in BigCommerce by 13.6% in the fourth quarter. Cadian Capital Management LP now owns 7,553,280 shares of the company’s stock valued at $73,493,000 after purchasing an additional 904,750 shares during the last quarter. Vanguard Group Inc. boosted its stake in BigCommerce by 8.5% in the 4th quarter. Vanguard Group Inc. now owns 9,705,856 shares of the company’s stock worth $94,438,000 after buying an additional 762,437 shares during the last quarter. Los Angeles Capital Management LLC purchased a new stake in BigCommerce in the 1st quarter valued at about $564,000. Finally, Susquehanna Fundamental Investments LLC increased its stake in shares of BigCommerce by 222.0% during the 1st quarter. Susquehanna Fundamental Investments LLC now owns 124,498 shares of the company’s stock valued at $858,000 after acquiring an additional 85,840 shares during the last quarter. Hedge funds and other institutional investors own 79.21% of the company’s stock.

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.