BigCommerce (NASDAQ:BIGC) Receives “Buy” Rating from Needham & Company LLC

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

Several other analysts have also recently weighed in on the company. Barclays dropped their price target on BigCommerce from $8.00 to $7.00 and set an equal weight rating for the company in a report on Monday, August 5th. Bank of America lowered their price objective on BigCommerce from $8.00 to $6.00 and set an underperform rating on the stock in a research note on Thursday, August 29th. Finally, Stifel Nicolaus cut their target price on BigCommerce from $10.00 to $8.00 and set a buy rating for the company in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Hold and an average target price of $8.81.

BigCommerce Price Performance

NASDAQ:BIGC opened at $5.62 on Thursday. The company has a market cap of $434.29 million, a P/E ratio of -8.78 and a beta of 0.98. BigCommerce has a 52-week low of $5.35 and a 52-week high of $10.29. The stock’s 50-day simple moving average is $6.03 and its 200 day simple moving average is $6.88. The company has a debt-to-equity ratio of 13.04, a quick ratio of 4.51 and a current ratio of 4.51.

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

Institutional Investors Weigh In On BigCommerce

Hedge funds and other institutional investors have recently bought and sold shares of the company. Canada Pension Plan Investment Board acquired a new stake in BigCommerce in the second quarter valued at $35,000. Acadian Asset Management LLC bought a new stake in shares of BigCommerce in the 1st quarter valued at about $80,000. Virtu Financial LLC bought a new stake in shares of BigCommerce in the 1st quarter valued at about $104,000. AQR Capital Management LLC acquired a new stake in shares of BigCommerce in the second quarter valued at about $121,000. Finally, Bayesian Capital Management LP bought a new position in shares of BigCommerce during the first quarter worth about $144,000. Institutional investors 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.