BigCommerce (NASDAQ:BIGC) Downgraded to Buy Rating 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 report released on Saturday.

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

BigCommerce Price Performance

NASDAQ:BIGC traded up $0.08 during trading hours on Friday, hitting $5.17. 551,543 shares of the stock traded hands, compared to its average volume of 885,414. The company has a market cap of $414.12 million, a price-to-earnings ratio of -19.15 and a beta of 1.15. BigCommerce has a 1 year low of $4.73 and a 1 year high of $8.50. The stock has a 50 day moving average price of $5.07 and a 200 day moving average price of $5.73. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 4.14.

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

Hedge Funds Weigh In On BigCommerce

Several institutional investors have recently bought and sold shares of the business. Millennium Management LLC increased its holdings in shares of BigCommerce by 1,073.1% in the 4th quarter. Millennium Management LLC now owns 1,245,111 shares of the company's stock worth $7,620,000 after buying an additional 1,138,977 shares during the last quarter. Divisar Capital Management LLC grew its position in BigCommerce by 48.5% in the fourth quarter. Divisar Capital Management LLC now owns 1,872,031 shares of the company's stock worth $11,457,000 after acquiring an additional 611,811 shares in the last quarter. Acadian Asset Management LLC increased its stake in BigCommerce by 714.4% during the first quarter. Acadian Asset Management LLC now owns 690,548 shares of the company's stock worth $3,976,000 after acquiring an additional 605,753 shares during the last quarter. S Squared Technology LLC raised its position in BigCommerce by 1,137.3% during the first quarter. S Squared Technology LLC now owns 618,662 shares of the company's stock valued at $3,563,000 after purchasing an additional 568,662 shares during the period. Finally, Cubist Systematic Strategies LLC raised its position in BigCommerce by 3,397.1% during the first quarter. Cubist Systematic Strategies LLC now owns 520,409 shares of the company's stock valued at $2,998,000 after purchasing an additional 505,528 shares during the period. 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.