Commerce.com, Inc. (NASDAQ:CMRC) Stake Increased by Connor Clark & Lunn Investment Management Ltd.

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its holdings in Commerce.com by 55.7%, acquiring 387,836 shares during the first quarter, bringing its total to approximately 1,083,965 shares valued at $6.24 million.
• Commerce.com reported $0.04 earnings per share for the latest quarter, exceeding analysts' expectations of $0.03, despite a revenue of $84.43 million which was below the estimated $86.08 million.
• Several brokerage firms have different ratings for Commerce.com, with Canaccord Genuity upgrading it to a "buy" and issuing a price target of $11, while others like the Goldman Sachs Group and Morgan Stanley reduced their price targets to $8.50 and $7.00, respectively.

Connor Clark & Lunn Investment Management Ltd. raised its position in Commerce.com, Inc. (NASDAQ:CMRC - Free Report) by 55.7% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 1,083,965 shares of the company's stock after acquiring an additional 387,836 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 1.38% of Commerce.com worth $6,244,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in CMRC. Millennium Management LLC increased its holdings in shares of Commerce.com by 1,073.1% in 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 in the last quarter. Divisar Capital Management LLC increased its holdings in Commerce.com by 48.5% during the 4th quarter. Divisar Capital Management LLC now owns 1,872,031 shares of the company's stock valued at $11,457,000 after acquiring an additional 611,811 shares in the last quarter. Sovereign s Capital Management LLC purchased a new position in Commerce.com during the 4th quarter valued at about $2,586,000. G2 Investment Partners Management LLC purchased a new position in Commerce.com during the 4th quarter valued at about $1,905,000. Finally, D. E. Shaw & Co. Inc. purchased a new position in Commerce.com during the 4th quarter valued at about $1,282,000. Institutional investors and hedge funds own 79.21% of the company's stock.

Commerce.com Trading Up 2.4%

Shares of CMRC traded up $0.11 during mid-day trading on Friday, hitting $4.65. The company had a trading volume of 703,938 shares, compared to its average volume of 1,048,774. The business's 50-day simple moving average is $4.91 and its 200-day simple moving average is $5.45. The company has a quick ratio of 2.13, a current ratio of 2.13 and a debt-to-equity ratio of 4.06. Commerce.com, Inc. has a 1-year low of $4.14 and a 1-year high of $7.99. The stock has a market cap of $375.44 million, a PE ratio of -21.14 and a beta of 1.15.

Commerce.com (NASDAQ:CMRC - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The company reported $0.04 earnings per share for the quarter, beating analysts' consensus estimates of $0.03 by $0.01. Commerce.com had a negative net margin of 5.37% and a negative return on equity of 25.13%. The firm had revenue of $84.43 million for the quarter, compared to analysts' expectations of $86.08 million. During the same period in the previous year, the company posted $0.05 earnings per share. Commerce.com's revenue was up 3.2% compared to the same quarter last year.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Canaccord Genuity Group restated a "buy" rating and set a $11.00 target price on shares of Commerce.com in a report on Friday, August 1st. The Goldman Sachs Group dropped their target price on shares of Commerce.com from $9.50 to $8.50 and set a "neutral" rating for the company in a report on Friday, May 9th. Barclays dropped their target price on shares of Commerce.com from $7.00 to $6.00 and set an "underweight" rating for the company in a report on Monday, April 21st. Finally, Wall Street Zen upgraded shares of Commerce.com from a "hold" rating to a "buy" rating in a report on Sunday, August 10th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $8.07.

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.