BigCommerce (NASDAQ:BIGC) Price Target Cut to $8.00 by Analysts at Morgan Stanley

BigCommerce (NASDAQ:BIGC - Free Report) had its price target decreased by Morgan Stanley from $10.00 to $8.00 in a research report released on Wednesday, Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

Other analysts have also issued reports about the company. Piper Sandler dropped their target price on BigCommerce from $11.00 to $9.00 and set a neutral rating on the stock in a research report on Friday, February 23rd. The Goldman Sachs Group cut BigCommerce from a buy rating to a neutral rating and cut their price objective for the company from $11.50 to $9.50 in a research note on Monday, February 5th. Bank of America restated an underperform rating and set a $7.50 price objective (down previously from $11.00) on shares of BigCommerce in a research note on Monday, March 25th. Barclays cut their price objective on BigCommerce from $10.00 to $7.00 and set an equal weight rating on the stock in a research note on Monday. Finally, Needham & Company LLC restated a buy rating and set a $20.00 price objective on shares of BigCommerce in a research note on Tuesday, January 30th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, BigCommerce currently has an average rating of Hold and an average price target of $10.25.

BigCommerce Stock Down 0.7 %

Shares of NASDAQ BIGC traded down $0.04 during midday trading on Wednesday, reaching $5.85. 698,628 shares of the company's stock were exchanged, compared to its average volume of 663,137. BigCommerce has a 52-week low of $5.81 and a 52-week high of $12.75. The stock has a market capitalization of $448.11 million, a PE ratio of -6.85 and a beta of 0.80. The company has a debt-to-equity ratio of 13.30, a quick ratio of 4.83 and a current ratio of 4.83. The business's fifty day moving average price is $7.43 and its two-hundred day moving average price is $8.48.

Institutional Trading of BigCommerce

A number of institutional investors and hedge funds have recently made changes to their positions in BIGC. Alliancebernstein L.P. raised its position in shares of BigCommerce by 84.8% during the 3rd quarter. Alliancebernstein L.P. now owns 5,015,401 shares of the company's stock worth $74,228,000 after purchasing an additional 2,301,491 shares during the period. Cadian Capital Management LP raised its position in shares of BigCommerce by 31.0% during the 3rd quarter. Cadian Capital Management LP now owns 6,648,530 shares of the company's stock worth $65,621,000 after purchasing an additional 1,571,938 shares during the period. Norges Bank acquired a new stake in shares of BigCommerce during the 4th quarter worth approximately $10,236,000. Morgan Stanley raised its position in shares of BigCommerce by 22.5% during the 3rd quarter. Morgan Stanley now owns 4,266,223 shares of the company's stock worth $42,108,000 after purchasing an additional 782,862 shares during the period. Finally, Vanguard Group Inc. grew its holdings in BigCommerce by 8.5% in the 4th quarter. Vanguard Group Inc. now owns 9,705,856 shares of the company's stock worth $94,438,000 after buying an additional 762,437 shares in the last quarter. 79.21% of the stock is currently 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.