Barclays Cuts BigCommerce (NASDAQ:BIGC) Price Target to $7.00

BigCommerce (NASDAQ:BIGC - Get Free Report) had its target price cut by equities researchers at Barclays from $10.00 to $7.00 in a report released on Monday, Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Barclays's target price would indicate a potential upside of 17.06% from the stock's current price.

A number of other research analysts have also weighed in on the stock. Piper Sandler decreased their target price on shares of BigCommerce from $11.00 to $9.00 and set a "neutral" rating on the stock in a research note on Friday, February 23rd. Truist Financial decreased their target price on shares of BigCommerce from $10.00 to $9.00 and set a "hold" rating on the stock in a research note on Friday, February 23rd. The Goldman Sachs Group downgraded shares of BigCommerce from a "buy" rating to a "neutral" rating and cut their price target for the stock from $11.50 to $9.50 in a report on Monday, February 5th. Needham & Company LLC restated a "buy" rating and set a $20.00 price target on shares of BigCommerce in a report on Tuesday, January 30th. Finally, Bank of America restated an "underperform" rating and set a $7.50 price target (down previously from $11.00) on shares of BigCommerce in a report on Monday, March 25th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat, BigCommerce has an average rating of "Hold" and a consensus target price of $10.50.

BigCommerce Price Performance

BigCommerce stock traded down $0.23 during midday trading on Monday, reaching $5.98. The company had a trading volume of 1,095,592 shares, compared to its average volume of 660,622. The company has a market capitalization of $458.07 million, a P/E ratio of -7.22 and a beta of 0.80. BigCommerce has a 12-month low of $5.95 and a 12-month high of $12.75. The firm's fifty day simple moving average is $7.51 and its 200-day simple moving average is $8.53. The company has a debt-to-equity ratio of 13.30, a current ratio of 4.83 and a quick ratio of 4.83.

Hedge Funds Weigh In On BigCommerce

Several institutional investors have recently modified their holdings of the business. Nuveen Asset Management LLC lifted its position in shares of BigCommerce by 0.8% during the 4th quarter. Nuveen Asset Management LLC now owns 155,939 shares of the company's stock worth $1,517,000 after purchasing an additional 1,185 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in BigCommerce by 5.4% in the second quarter. The Manufacturers Life Insurance Company now owns 27,061 shares of the company's stock valued at $269,000 after acquiring an additional 1,377 shares during the last quarter. Swiss National Bank lifted its position in BigCommerce by 1.0% in the third quarter. Swiss National Bank now owns 139,300 shares of the company's stock valued at $1,375,000 after acquiring an additional 1,400 shares during the last quarter. HighTower Advisors LLC increased its stake in BigCommerce by 8.2% in the first quarter. HighTower Advisors LLC now owns 18,730 shares of the company's stock valued at $414,000 after purchasing an additional 1,425 shares during the period. Finally, Advisors Asset Management Inc. increased its stake in BigCommerce by 81.9% in the first quarter. Advisors Asset Management Inc. now owns 3,716 shares of the company's stock valued at $81,000 after purchasing an additional 1,673 shares during the period. Institutional investors and hedge funds own 79.21% of the company's stock.

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.