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

BigCommerce (NASDAQ:BIGC)‘s stock had its “buy” rating reissued by investment analysts at Needham & Company LLC in a report issued on Wednesday,Benzinga reports. They currently have a $10.00 price target on the stock. Needham & Company LLC’s price target points to a potential upside of 62.87% from the stock’s previous close.

Separately, Barclays downgraded 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 note on Friday, January 10th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $7.80.

BigCommerce Stock Performance

Shares of NASDAQ BIGC opened at $6.14 on Wednesday. BigCommerce has a 12-month low of $5.13 and a 12-month high of $8.60. The firm has a market capitalization of $482.60 million, a price-to-earnings ratio of -17.54 and a beta of 1.13. The company has a current ratio of 2.81, a quick ratio of 2.81 and a debt-to-equity ratio of 7.48. The firm has a 50 day moving average of $6.46 and a 200 day moving average of $6.27.

BigCommerce (NASDAQ:BIGC) last issued 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). BigCommerce had a negative net margin of 8.12% and a negative return on equity of 52.65%. The business had revenue of $87.03 million for the quarter, compared to the consensus estimate of $86.90 million. On average, research analysts anticipate that BigCommerce will post -0.16 earnings per share for the current year.

Insider Buying and Selling

In other BigCommerce news, Director Ellen F. Siminoff acquired 177,158 shares of the stock in a transaction dated Thursday, March 6th. The shares were acquired at an average cost of $6.64 per share, for a total transaction of $1,176,329.12. Following the completion of the transaction, the director now directly owns 253,333 shares of the company’s stock, valued at approximately $1,682,131.12. The trade was a 232.57 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 9.06% of the stock is currently owned by insiders.

Institutional Trading of BigCommerce

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Barclays PLC grew its holdings in BigCommerce by 154.9% during the 3rd quarter. Barclays PLC now owns 116,667 shares of the company’s stock valued at $682,000 after buying an additional 70,902 shares in the last quarter. Jane Street Group LLC boosted its position in shares of BigCommerce by 88.2% during the third quarter. Jane Street Group LLC now owns 206,265 shares of the company’s stock worth $1,207,000 after acquiring an additional 96,667 shares during the last quarter. Walleye Capital LLC purchased a new position in BigCommerce during the third quarter valued at $170,000. State Street Corp increased its holdings in BigCommerce by 1.1% in the 3rd quarter. State Street Corp now owns 1,522,002 shares of the company’s stock valued at $8,904,000 after acquiring an additional 16,561 shares during the last quarter. Finally, Intech Investment Management LLC purchased a new stake in BigCommerce in the 3rd quarter worth $112,000. 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.