BigCommerce (NASDAQ:BIGC) Price Target Cut to $7.00 by Analysts at Morgan Stanley

BigCommerce (NASDAQ:BIGC - Free Report) had its price target cut by Morgan Stanley from $8.00 to $7.00 in a report released on Wednesday,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other analysts have also commented on BIGC. Barclays lowered BigCommerce from an "equal weight" rating to an "underweight" rating and decreased their price objective for the company from $8.00 to $7.00 in a research note on Friday, January 10th. Needham & Company LLC reaffirmed a "buy" rating and set a $10.00 price target on shares of BigCommerce in a research note on Wednesday, March 12th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $7.40.

BigCommerce Price Performance

BigCommerce stock traded down $0.20 during midday trading on Wednesday, reaching $4.89. The company's stock had a trading volume of 843,311 shares, compared to its average volume of 879,470. The stock's 50 day simple moving average is $6.06 and its 200 day simple moving average is $6.22. 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 firm has a market capitalization of $384.35 million, a PE ratio of -13.97 and a beta of 1.17. BigCommerce has a fifty-two week low of $4.86 and a fifty-two week high of $8.60.

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

Insider Buying and Selling at BigCommerce

In other news, Director Ellen F. Siminoff acquired 177,158 shares of BigCommerce stock in a transaction dated Thursday, March 6th. The shares were acquired at an average cost of $6.64 per share, with a total value of $1,176,329.12. Following the purchase, the director now directly owns 253,333 shares of the company's stock, valued at approximately $1,682,131.12. This trade represents a 232.57 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 9.06% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC raised its stake in shares of BigCommerce by 8,196.8% in the 1st quarter. GAMMA Investing LLC now owns 5,144 shares of the company's stock valued at $30,000 after acquiring an additional 5,082 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in BigCommerce in the fourth quarter valued at about $35,000. New York State Common Retirement Fund lifted its stake in shares of BigCommerce by 105.3% during the fourth quarter. New York State Common Retirement Fund now owns 8,579 shares of the company's stock worth $53,000 after purchasing an additional 4,400 shares in the last quarter. Headlands Technologies LLC boosted its position in shares of BigCommerce by 260.5% in the fourth quarter. Headlands Technologies LLC now owns 9,938 shares of the company's stock worth $61,000 after buying an additional 7,181 shares during the period. Finally, Next Level Private LLC acquired a new stake in shares of BigCommerce in the first quarter valued at about $58,000. 79.21% of the stock is owned by institutional investors and hedge funds.

About BigCommerce

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.