Needham & Company LLC Reiterates “Buy” Rating for BigCommerce (NASDAQ:BIGC)

BigCommerce (NASDAQ:BIGC)‘s stock had its “buy” rating reissued by stock analysts at Needham & Company LLC in a research note issued to investors on Monday,Benzinga reports. They presently have a $10.00 price target on the stock. Needham & Company LLC’s price target would indicate a potential upside of 34.23% from the stock’s current price.

A number of other analysts have also commented on the company. Barclays lifted their target price on BigCommerce from $7.00 to $8.00 and gave the stock an “equal weight” rating in a report on Friday, December 6th. Stifel Nicolaus reduced their price objective on BigCommerce from $10.00 to $8.00 and set a “buy” rating for the company in a report on Thursday, October 3rd. Finally, Bank of America lowered their target price 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 investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, BigCommerce currently has a consensus rating of “Hold” and a consensus price target of $8.44.

BigCommerce Trading Down 3.6 %

NASDAQ:BIGC opened at $7.45 on Monday. The stock has a market cap of $583.93 million, a price-to-earnings ratio of -21.17 and a beta of 1.15. The company has a quick ratio of 2.81, a current ratio of 2.81 and a debt-to-equity ratio of 7.48. The company’s 50 day moving average price is $6.17 and its 200-day moving average price is $6.70. BigCommerce has a 52 week low of $5.13 and a 52 week high of $10.19.

Institutional Investors Weigh In On BigCommerce

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Franklin Resources Inc. grew its position in BigCommerce by 1.8% during the third quarter. Franklin Resources Inc. now owns 1,932,149 shares of the company’s stock valued at $10,859,000 after buying an additional 35,016 shares during the period. Clearline Capital LP grew its position in shares of BigCommerce by 69.7% during the 3rd quarter. Clearline Capital LP now owns 1,611,619 shares of the company’s stock valued at $9,428,000 after acquiring an additional 661,688 shares during the period. Geode Capital Management LLC increased its stake in shares of BigCommerce by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,600,219 shares of the company’s stock worth $9,363,000 after purchasing an additional 21,105 shares in the last quarter. State Street Corp raised its holdings in BigCommerce by 1.1% in the 3rd quarter. State Street Corp now owns 1,522,002 shares of the company’s stock worth $8,904,000 after purchasing an additional 16,561 shares during the period. Finally, Clearbridge Investments LLC lifted its position in BigCommerce by 8.0% during the second quarter. Clearbridge Investments LLC now owns 1,433,163 shares of the company’s stock valued at $11,551,000 after purchasing an additional 106,080 shares in the last quarter. Hedge funds and other institutional investors own 79.21% of the company’s stock.

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.