BigCommerce (NASDAQ:BIGC) Price Target Cut to $6.00 by Analysts at Barclays

BigCommerce (NASDAQ:BIGC - Free Report) had its target price reduced by Barclays from $7.00 to $6.00 in a report issued on Monday morning,Benzinga reports. They currently have an underweight rating on the stock.

Several other brokerages also recently commented on BIGC. 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. Morgan Stanley lowered their price target on shares of BigCommerce from $8.00 to $7.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $7.40.

BigCommerce Price Performance

Shares of NASDAQ:BIGC traded up $0.11 during midday trading on Monday, reaching $5.36. 463,906 shares of the company's stock were exchanged, compared to its average volume of 881,441. The company has a debt-to-equity ratio of 7.48, a quick ratio of 2.81 and a current ratio of 2.81. The company's 50 day simple moving average is $5.87 and its two-hundred day simple moving average is $6.19. BigCommerce has a 12 month low of $4.85 and a 12 month high of $8.60. The firm has a market capitalization of $421.30 million, a PE ratio of -15.31 and a beta of 1.17.

BigCommerce (NASDAQ:BIGC - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.02 EPS for the quarter, missing analysts' consensus estimates of $0.07 by ($0.05). BigCommerce had a negative return on equity of 52.65% and a negative net margin of 8.12%. The business had revenue of $87.03 million for the quarter, compared to the consensus estimate of $86.90 million. Equities research analysts expect that BigCommerce will post -0.16 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Ellen F. Siminoff bought 177,158 shares of the stock in a transaction on Thursday, March 6th. The stock was purchased at an average price of $6.64 per share, for a total transaction of $1,176,329.12. Following the acquisition, the director now owns 253,333 shares in the company, valued at approximately $1,682,131.12. This trade represents a 232.57 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 9.06% of the company's stock.

Institutional Investors Weigh In On BigCommerce

Hedge funds and other institutional investors have recently bought and sold shares of the company. HighTower Advisors LLC grew its stake in shares of BigCommerce by 16.8% during the 3rd quarter. HighTower Advisors LLC now owns 15,310 shares of the company's stock worth $89,000 after acquiring an additional 2,200 shares in the last quarter. Rhumbline Advisers grew its position in BigCommerce by 3.6% in the first quarter. Rhumbline Advisers now owns 101,451 shares of the company's stock valued at $584,000 after purchasing an additional 3,535 shares in the last quarter. MetLife Investment Management LLC increased its stake in BigCommerce by 10.0% in the 4th quarter. MetLife Investment Management LLC now owns 42,984 shares of the company's stock valued at $263,000 after buying an additional 3,893 shares during the last quarter. New York State Common Retirement Fund increased its stake in BigCommerce by 105.3% in the 4th quarter. New York State Common Retirement Fund now owns 8,579 shares of the company's stock valued at $53,000 after buying an additional 4,400 shares during the last quarter. Finally, LPL Financial LLC lifted its position in BigCommerce by 12.4% during the 4th quarter. LPL Financial LLC now owns 44,464 shares of the company's stock worth $272,000 after buying an additional 4,892 shares in the last quarter. 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.