Commerce.com (NASDAQ:CMRC) Price Target Lowered to $7.50 at Needham & Company LLC

Key Points

• Needham & Company LLC cut its price target on Commerce.com from $10.00 to $7.50 while keeping a "buy" rating, a level that implies roughly 162.7% upside from the stock's prior close.
• Analyst sentiment has weakened as several firms lowered ratings and targets, leaving a MarketBeat consensus of "Reduce" and an average price target of $5.17 (2 Buy, 2 Hold, 3 Sell).
• Insider Ellen F. Siminoff bought 100,000 shares at about $2.94—raising her position ~39%—and institutional ownership is high at 79.21% with recent inflows from investors such as AQR and M&T Bank.

Commerce.com (NASDAQ:CMRC - Get Free Report) had its price target reduced by stock analysts at Needham & Company LLC from $10.00 to $7.50 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Needham & Company LLC's price target indicates a potential upside of 162.70% from the stock's previous close.

Several other research firms have also recently weighed in on CMRC. Barclays reduced their price objective on Commerce.com from $3.00 to $2.00 and set an "underweight" rating for the company in a research report on Tuesday, February 17th. Morgan Stanley cut Commerce.com from an "equal weight" rating to an "underweight" rating and reduced their price objective for the company from $6.50 to $4.00 in a research report on Tuesday, January 20th. Canaccord Genuity Group reduced their price objective on Commerce.com from $11.00 to $6.00 and set a "buy" rating for the company in a research report on Friday, February 13th. Zacks Research cut Commerce.com from a "strong-buy" rating to a "hold" rating in a research report on Thursday, January 22nd. Finally, UBS Group set a $3.00 price objective on Commerce.com in a research report on Friday, February 13th. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat, Commerce.com presently has an average rating of "Reduce" and a consensus price target of $5.17.

Commerce.com Stock Performance

Shares of CMRC traded up $0.13 during mid-day trading on Wednesday, hitting $2.86. The company's stock had a trading volume of 282,321 shares, compared to its average volume of 1,004,546. Commerce.com has a one year low of $2.41 and a one year high of $5.75. The company has a debt-to-equity ratio of 3.89, a quick ratio of 1.98 and a current ratio of 1.98. The firm has a market capitalization of $234.68 million, a PE ratio of -12.41, a price-to-earnings-growth ratio of 0.95 and a beta of 1.16. The stock's 50-day moving average is $2.83 and its two-hundred day moving average is $3.90.

Insider Activity at Commerce.com

In other news, insider Ellen F. Siminoff bought 100,000 shares of the business's stock in a transaction that occurred on Tuesday, February 17th. The stock was acquired at an average cost of $2.94 per share, for a total transaction of $294,000.00. Following the completion of the purchase, the insider owned 353,333 shares of the company's stock, valued at $1,038,799.02. This trade represents a 39.47% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 9.06% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CMRC. AQR Capital Management LLC raised its stake in shares of Commerce.com by 2,028.0% in the first quarter. AQR Capital Management LLC now owns 278,583 shares of the company's stock valued at $1,605,000 after purchasing an additional 265,492 shares in the last quarter. 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 in the last quarter. Pallas Capital Advisors LLC acquired a new position in Commerce.com during the fourth quarter worth $50,000. CWM LLC acquired a new position in Commerce.com during the fourth quarter worth $159,000. Finally, M&T Bank Corp acquired a new position in Commerce.com during the fourth quarter worth $5,679,000. 79.21% of the stock is currently owned by institutional investors and hedge funds.

Commerce.com Company Profile

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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