Commerce.com (NASDAQ:CMRC) Given Buy Rating at Needham & Company LLC

Key Points

• Needham & Company reaffirmed a buy rating on Commerce.com (NASDAQ:CMRC) with a $7.50 price target, implying roughly a 168.82% upside from the prior close.
• Analyst views are mixed—2 buy, 2 hold and 3 sell ratings—resulting in a MarketBeat average rating of Reduce and an average target price of $5.17; shares opened at $2.79 and trade in a 52‑week range of $2.41–$5.59.
• Insider Ellen F. Siminoff purchased 100,000 shares at $2.94 (a ~39.5% increase in her holdings); insiders own 2.7% of the stock while institutional investors control about 79.21%.

Commerce.com (NASDAQ:CMRC - Get Free Report)'s stock had its "buy" rating reaffirmed by Needham & Company LLC in a report released on Thursday,Benzinga reports. They currently have a $7.50 price target on the stock. Needham & Company LLC's target price suggests a potential upside of 168.82% from the company's previous close.

Several other brokerages have also recently issued reports on CMRC. Canaccord Genuity Group lowered their price objective on shares of Commerce.com from $11.00 to $6.00 and set a "buy" rating for the company in a research note on Friday, February 13th. Wall Street Zen cut shares of Commerce.com from a "strong-buy" rating to a "buy" rating in a research report on Sunday, April 19th. UBS Group set a $3.00 price objective on shares of Commerce.com in a report on Friday, February 13th. Zacks Research lowered shares of Commerce.com from a "strong-buy" rating to a "hold" rating in a report on Thursday, January 22nd. Finally, Weiss Ratings reiterated a "sell (e+)" rating on shares of Commerce.com in a report on Monday, April 20th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Reduce" and an average target price of $5.17.

Commerce.com Stock Down 4.8%

Shares of NASDAQ CMRC opened at $2.79 on Thursday. Commerce.com has a 52-week low of $2.41 and a 52-week high of $5.59. The firm has a fifty day moving average of $2.79 and a 200-day moving average of $3.67. The stock has a market capitalization of $229.34 million, a PE ratio of -12.13, a P/E/G ratio of 1.02 and a beta of 1.16. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 3.89.

Insiders Place Their Bets

In other Commerce.com news, insider Ellen F. Siminoff acquired 100,000 shares of the company's stock in a transaction that occurred on Tuesday, February 17th. The shares were purchased at an average price of $2.94 per share, for a total transaction of $294,000.00. Following the completion of the purchase, the insider directly owned 353,333 shares in the company, valued at $1,038,799.02. The trade was a 39.47% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 2.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Commerce.com

Several institutional investors and hedge funds have recently bought and sold shares of CMRC. AQR Capital Management LLC raised its stake in Commerce.com by 2,028.0% during the first quarter. AQR Capital Management LLC now owns 278,583 shares of the company's stock worth $1,605,000 after acquiring an additional 265,492 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Commerce.com by 15.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 83,826 shares of the company's stock worth $483,000 after acquiring an additional 11,509 shares during the period. Pallas Capital Advisors LLC acquired a new stake in Commerce.com during the fourth quarter worth about $50,000. CWM LLC acquired a new stake in Commerce.com during the fourth quarter worth about $159,000. Finally, M&T Bank Corp acquired a new stake in Commerce.com during the fourth quarter worth about $5,679,000. Institutional investors and hedge funds own 79.21% of the company's stock.

About Commerce.com

BigCommerce Holdings, Inc operates a software-as-a-service platform for small businesses, mid-markets, and large enterprises in the United States, Europe, the Middle East, Africa, the Asia-Pacific, and internationally. The company's platform provides various services for launching and scaling e-commerce operation, including store design, catalog management, hosting, checkout, order management, reporting, and pre-integrations. As of December 31, 2021, it served approximately 60,000 online stores across industries.

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