Wall Street Zen Downgrades Commerce.com (NASDAQ:CMRC) to Buy

Key Points

• Wall Street Zen downgraded Commerce.com from “strong buy” to “buy,” while broader analyst sentiment remains negative: MarketBeat reports an average “reduce” rating and a $4.20 target price.
• Analyst opinions are mixed, with one buy, three hold, and three sell ratings; price targets range from $3.00 to $7.50, including recent reductions from Canaccord Genuity.
• Commerce.com opened at $2.22, near its one-year low of $1.95, with a market capitalization of approximately $183 million. Institutional investors own 79.21% of the company’s shares.

Commerce.com (NASDAQ:CMRC - Get Free Report) was downgraded by Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research note issued on Saturday.

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Several other research firms have also weighed in on CMRC. Needham & Company LLC restated a "buy" rating and set a $7.50 price objective on shares of Commerce.com in a research note on Thursday, April 30th. Canaccord Genuity Group reiterated a "hold" rating and issued a $3.00 target price (down from $6.00) on shares of Commerce.com in a research note on Friday. Barclays lifted their price target on Commerce.com from $2.00 to $3.00 and gave the stock an "underweight" rating in a report on Monday, May 11th. Zacks Research downgraded Commerce.com from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 6th. Finally, Weiss Ratings restated a "sell (e+)" rating on shares of Commerce.com in a research note on Friday, July 17th. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, Commerce.com has an average rating of "Reduce" and an average target price of $4.20.

Commerce.com Stock Performance

• BigCommerce NASDAQ: BIGC Stock Breaking Out: The Next Big Thing in E-commerce?

NASDAQ CMRC opened at $2.22 on Friday. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 3.26. The firm's fifty day moving average price is $2.93 and its two-hundred day moving average price is $2.91. Commerce.com has a 1 year low of $1.95 and a 1 year high of $5.55. The firm has a market capitalization of $183.17 million, a P/E ratio of -31.71 and a beta of 1.14.

Hedge Funds Weigh In On Commerce.com

Large investors have recently modified their holdings of the stock. Pale Fire Capital SE lifted its stake in shares of Commerce.com by 294.2% during the 1st quarter. Pale Fire Capital SE now owns 2,952,094 shares of the company's stock worth $7,882,000 after buying an additional 2,203,169 shares during the last quarter. Geode Capital Management LLC bought a new stake in shares of Commerce.com during the 4th quarter worth about $6,605,000. Marshall Wace LLP acquired a new position in Commerce.com in the 4th quarter valued at about $6,188,000. State Street Corp acquired a new position in Commerce.com in the 4th quarter valued at about $5,867,000. Finally, Potrero Capital Research LLC acquired a new position in Commerce.com in the 4th quarter valued at about $5,831,000. 79.21% of the stock is owned by institutional investors.

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. As of December 31, 2021, it served approximately 60,000 online stores across industries.

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