BigCommerce (NASDAQ:BIGC) Downgraded by Wall Street Zen to Buy

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

BIGC has been the topic of several other reports. The Goldman Sachs Group dropped their price objective 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. Morgan Stanley lowered their price target 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. Needham & Company LLC reissued a "buy" rating and set a $10.00 price objective on shares of BigCommerce in a research note on Wednesday, March 12th. Finally, Barclays decreased their price objective on BigCommerce from $7.00 to $6.00 and set an "underweight" rating on the stock in a report on Monday, April 21st. 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's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $7.58.

BigCommerce Stock Performance

Shares of BIGC traded up $0.04 during midday trading on Friday, reaching $5.09. 422,644 shares of the stock were exchanged, compared to its average volume of 886,792. BigCommerce has a twelve month low of $4.73 and a twelve month high of $8.50. The business's 50-day moving average price is $5.08 and its 200 day moving average price is $5.75. 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 released its quarterly earnings results on Thursday, May 8th. The company reported $0.07 EPS for the quarter, topping the consensus estimate of $0.06 by $0.01. BigCommerce had a negative return on equity of 33.21% and a negative net margin of 6.27%. The company had revenue of $82.37 million for the quarter, compared to analyst estimates of $82.48 million. During the same quarter in the previous year, the company posted $0.07 earnings per share. The firm's revenue was up 2.5% compared to the same quarter last year. As a group, equities analysts anticipate that BigCommerce will post -0.16 earnings per share for the current year.

Hedge Funds Weigh In On BigCommerce

A number of large investors have recently bought and sold shares of BIGC. Bank of New York Mellon Corp increased its position in BigCommerce by 3.5% during the 4th quarter. Bank of New York Mellon Corp now owns 1,263,093 shares of the company's stock worth $7,730,000 after purchasing an additional 42,920 shares in the last quarter. US Bancorp DE increased its position in shares of BigCommerce by 15,736.8% in the fourth quarter. US Bancorp DE now owns 19,796 shares of the company's stock worth $121,000 after acquiring an additional 19,671 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of BigCommerce by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 561,022 shares of the company's stock valued at $3,433,000 after acquiring an additional 9,419 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of BigCommerce by 79.5% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 696,129 shares of the company's stock valued at $4,260,000 after acquiring an additional 308,384 shares in the last quarter. Finally, Monimus Capital Management LP acquired a new position in shares of BigCommerce during the 4th quarter valued at $1,938,000. 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.