BigCommerce (NASDAQ:BIGC) Cut to "Buy" at Wall Street Zen

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

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

BigCommerce Price Performance

NASDAQ:BIGC traded down $0.04 during trading hours on Friday, reaching $5.09. 636,439 shares of the company were exchanged, compared to its average volume of 885,791. The company has a market capitalization of $407.71 million, a P/E ratio of -18.85 and a beta of 1.15. BigCommerce has a 1-year low of $4.73 and a 1-year high of $8.50. The company has a debt-to-equity ratio of 4.14, a current ratio of 2.34 and a quick ratio of 2.34. The business has a 50 day moving average of $5.07 and a 200 day moving average of $5.74.

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

Hedge Funds Weigh In On BigCommerce

A number of hedge funds have recently added to or reduced their stakes in BIGC. Millennium Management LLC boosted its stake in BigCommerce by 1,073.1% during the 4th quarter. Millennium Management LLC now owns 1,245,111 shares of the company's stock valued at $7,620,000 after purchasing an additional 1,138,977 shares during the last quarter. Divisar Capital Management LLC raised its holdings in shares of BigCommerce by 48.5% in the 4th quarter. Divisar Capital Management LLC now owns 1,872,031 shares of the company's stock worth $11,457,000 after purchasing an additional 611,811 shares during the period. Acadian Asset Management LLC raised its holdings in shares of BigCommerce by 714.4% in the 1st quarter. Acadian Asset Management LLC now owns 690,548 shares of the company's stock worth $3,976,000 after purchasing an additional 605,753 shares during the period. S Squared Technology LLC raised its holdings in shares of BigCommerce by 1,137.3% in the 1st quarter. S Squared Technology LLC now owns 618,662 shares of the company's stock worth $3,563,000 after purchasing an additional 568,662 shares during the period. Finally, Cubist Systematic Strategies LLC raised its holdings in shares of BigCommerce by 3,397.1% in the 1st quarter. Cubist Systematic Strategies LLC now owns 520,409 shares of the company's stock worth $2,998,000 after purchasing an additional 505,528 shares during the period. Institutional investors and hedge funds 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.