Needham & Company LLC Reaffirms Buy Rating for BigCommerce (NASDAQ:BIGC)

Needham & Company LLC reiterated their buy rating on shares of BigCommerce (NASDAQ:BIGC - Free Report) in a research report sent to investors on Friday morning, Benzinga reports. Needham & Company LLC currently has a $14.00 target price on the stock.

Several other equities research analysts have also recently weighed in on the stock. Barclays dropped their price target on shares of BigCommerce from $10.00 to $7.00 and set an equal weight rating for the company in a research report on Monday, April 15th. Morgan Stanley dropped their target price on shares of BigCommerce from $10.00 to $8.00 and set an equal weight rating on the stock in a research note on Wednesday, April 17th. Piper Sandler dropped 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 price objective on shares of BigCommerce from $10.00 to $9.00 and set a hold rating for the company in a report on Friday, February 23rd. Finally, The Goldman Sachs Group cut shares of BigCommerce from a buy rating to a neutral rating and reduced their target price for the company from $11.50 to $9.50 in a report on Monday, February 5th. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, BigCommerce has a consensus rating of Hold and an average target price of $9.63.

BigCommerce Trading Up 0.8 %

NASDAQ BIGC traded up $0.06 during mid-day trading on Friday, reaching $7.59. 933,981 shares of the stock were exchanged, compared to its average volume of 725,925. BigCommerce has a one year low of $5.62 and a one year high of $12.75. The stock has a 50 day simple moving average of $6.67 and a 200-day simple moving average of $8.08. The stock has a market cap of $581.39 million, a P/E ratio of -8.84 and a beta of 0.84. The company has a debt-to-equity ratio of 13.30, a current ratio of 4.83 and a quick ratio of 4.83.

Institutional Trading of BigCommerce

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Cadian Capital Management LP boosted its position in BigCommerce by 31.0% in the 3rd quarter. Cadian Capital Management LP now owns 6,648,530 shares of the company's stock valued at $65,621,000 after buying an additional 1,571,938 shares during the last quarter. Norges Bank bought a new position in shares of BigCommerce during the fourth quarter worth about $10,236,000. Vanguard Group Inc. lifted its position in shares of BigCommerce by 8.5% during the fourth quarter. Vanguard Group Inc. now owns 9,705,856 shares of the company's stock worth $94,438,000 after purchasing an additional 762,437 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its position in shares of BigCommerce by 94.8% during the third quarter. Jacobs Levy Equity Management Inc. now owns 706,676 shares of the company's stock worth $6,975,000 after purchasing an additional 343,855 shares during the last quarter. Finally, Steward Partners Investment Solutions LLC acquired a new stake in BigCommerce during the fourth quarter worth about $3,184,000. 79.21% of the stock is currently owned by institutional investors and hedge funds.

BigCommerce Company Profile

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.