BigCommerce (NASDAQ:BIGC) Stock Rating Lowered by Wall Street Zen

BigCommerce (NASDAQ:BIGC - Get Free Report) was downgraded by Wall Street Zen from a "strong-buy" rating to a "buy" rating in a note issued to investors on Saturday.

Several other research firms have also issued reports on BIGC. Needham & Company LLC reiterated a "buy" rating and set a $10.00 price target on shares of BigCommerce in a research report on Wednesday, March 12th. The Goldman Sachs Group cut their target price on shares of BigCommerce from $9.50 to $8.50 and set a "neutral" rating on the stock in a research report on Friday, May 9th. Morgan Stanley cut their target price on shares of BigCommerce from $8.00 to $7.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Finally, Barclays cut their target price on shares of BigCommerce from $7.00 to $6.00 and set an "underweight" rating on the stock in a research report on Monday, April 21st. Two analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, BigCommerce has a consensus rating of "Hold" and a consensus price target of $7.58.

BigCommerce Price Performance

Shares of NASDAQ BIGC traded up $0.04 during trading hours on Friday, hitting $5.09. 422,644 shares of the stock were exchanged, compared to its average volume of 884,480. The company has a debt-to-equity ratio of 4.14, a quick ratio of 2.34 and a current ratio of 2.34. The company has a market cap of $407.31 million, a PE ratio of -18.83 and a beta of 1.15. The company's fifty day simple moving average is $5.08 and its two-hundred day simple moving average is $5.75. BigCommerce has a 1-year low of $4.73 and a 1-year high of $8.50.

BigCommerce (NASDAQ:BIGC - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.01. The business had revenue of $82.37 million for the quarter, compared to analyst estimates of $82.48 million. BigCommerce had a negative net margin of 6.27% and a negative return on equity of 33.21%. The firm's revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter last year, the business posted $0.07 EPS. On average, sell-side analysts predict that BigCommerce will post -0.16 EPS for the current year.

Hedge Funds Weigh In On BigCommerce

Several large investors have recently modified their holdings of the business. Divisar Capital Management LLC raised its stake in shares of BigCommerce by 48.5% during the fourth quarter. Divisar Capital Management LLC now owns 1,872,031 shares of the company's stock valued at $11,457,000 after acquiring an additional 611,811 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of BigCommerce by 3.5% during the fourth quarter. Bank of New York Mellon Corp now owns 1,263,093 shares of the company's stock valued at $7,730,000 after acquiring an additional 42,920 shares during the last quarter. Millennium Management LLC raised its stake in shares of BigCommerce by 1,073.1% during the fourth quarter. Millennium Management LLC now owns 1,245,111 shares of the company's stock valued at $7,620,000 after acquiring an additional 1,138,977 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of BigCommerce by 55.7% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,083,965 shares of the company's stock valued at $6,244,000 after acquiring an additional 387,836 shares during the last quarter. Finally, Deutsche Bank AG raised its stake in shares of BigCommerce by 1.5% during the fourth quarter. Deutsche Bank AG now owns 990,275 shares of the company's stock valued at $6,060,000 after acquiring an additional 14,772 shares during the last quarter. 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.