Stifel Nicolaus Trims BigCommerce (NASDAQ:BIGC) Target Price to $8.00

BigCommerce (NASDAQ:BIGC) had its price objective decreased by analysts at Stifel Nicolaus from $10.00 to $8.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ price objective would indicate a potential upside of 41.09% from the stock’s previous close.

BIGC has been the topic of a number of other research reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $14.00 price target on shares of BigCommerce in a research note on Wednesday, August 28th. Barclays cut their price target on shares of BigCommerce from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Monday, August 5th. Finally, Bank of America cut their price target on shares of BigCommerce from $8.00 to $6.00 and set an “underperform” rating on the stock in a research note on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $8.81.

BigCommerce Stock Performance

Shares of NASDAQ:BIGC opened at $5.67 on Thursday. The company has a market capitalization of $438.15 million, a price-to-earnings ratio of -8.86 and a beta of 0.98. The firm’s 50 day simple moving average is $6.09 and its 200 day simple moving average is $6.89. The company has a debt-to-equity ratio of 13.04, a current ratio of 4.51 and a quick ratio of 4.51. BigCommerce has a fifty-two week low of $5.35 and a fifty-two week high of $10.29.

BigCommerce (NASDAQ:BIGC) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.02. The business had revenue of $81.83 million for the quarter, compared to the consensus estimate of $81.13 million. BigCommerce had a negative net margin of 12.68% and a negative return on equity of 82.39%. BigCommerce’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same period last year, the company posted ($0.17) EPS. As a group, sell-side analysts forecast that BigCommerce will post -0.3 earnings per share for the current year.

Institutional Trading of BigCommerce

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Norges Bank acquired a new position in BigCommerce during the fourth quarter worth $10,236,000. Cadian Capital Management LP increased its holdings in BigCommerce by 13.6% during the fourth quarter. Cadian Capital Management LP now owns 7,553,280 shares of the company’s stock worth $73,493,000 after buying an additional 904,750 shares during the last quarter. Vanguard Group Inc. increased its holdings in 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 buying an additional 762,437 shares during the last quarter. Divisar Capital Management LLC acquired a new position in BigCommerce during the second quarter worth $4,274,000. Finally, 272 Capital LP increased its holdings in BigCommerce by 40.0% during the second quarter. 272 Capital LP now owns 884,750 shares of the company’s stock worth $7,131,000 after buying an additional 252,946 shares during the last quarter. 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.