BigCommerce (NASDAQ:BIGC) Shares Up 4.3% – Here’s Why

BigCommerce Holdings, Inc. (NASDAQ:BIGC)’s share price shot up 4.3% during mid-day trading on Monday . The stock traded as high as $6.55 and last traded at $6.50. 169,239 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 855,710 shares. The stock had previously closed at $6.23.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on BIGC. Needham & Company LLC reissued a “buy” rating and issued a $10.00 price objective on shares of BigCommerce in a research report on Friday. Barclays cut BigCommerce from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $8.00 to $7.00 in a report on Friday, January 10th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, BigCommerce presently has an average rating of “Hold” and a consensus price target of $7.80.

BigCommerce Price Performance

The company has a debt-to-equity ratio of 7.48, a current ratio of 2.81 and a quick ratio of 2.81. The firm has a fifty day moving average of $6.40 and a two-hundred day moving average of $6.19. The stock has a market capitalization of $523.58 million, a P/E ratio of -19.04 and a beta of 1.18.

BigCommerce (NASDAQ:BIGC) last released its quarterly earnings data on Thursday, February 20th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.05). The business had revenue of $87.03 million for the quarter, compared to the consensus estimate of $86.90 million. BigCommerce had a negative net margin of 8.12% and a negative return on equity of 52.65%. On average, analysts predict that BigCommerce Holdings, Inc. will post -0.16 EPS for the current year.

Hedge Funds Weigh In On BigCommerce

Several institutional investors and hedge funds have recently added to or reduced their stakes in BIGC. HighTower Advisors LLC lifted its holdings in shares of BigCommerce by 16.8% during the 3rd quarter. HighTower Advisors LLC now owns 15,310 shares of the company’s stock valued at $89,000 after purchasing an additional 2,200 shares during the last quarter. MetLife Investment Management LLC lifted its stake in BigCommerce by 10.0% in the 4th quarter. MetLife Investment Management LLC now owns 42,984 shares of the company’s stock valued at $263,000 after buying an additional 3,893 shares in the last quarter. New York State Common Retirement Fund increased its stake in BigCommerce by 105.3% during the 4th quarter. New York State Common Retirement Fund now owns 8,579 shares of the company’s stock worth $53,000 after buying an additional 4,400 shares in the last quarter. LPL Financial LLC raised its holdings in shares of BigCommerce by 12.4% during the fourth quarter. LPL Financial LLC now owns 44,464 shares of the company’s stock valued at $272,000 after acquiring an additional 4,892 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of BigCommerce in the fourth quarter worth approximately $35,000. Hedge funds and other institutional investors own 79.21% of the company’s stock.

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.