BigCommerce (NASDAQ:BIGC) Cut to “Underweight” at Barclays

Barclays downgraded shares of BigCommerce (NASDAQ:BIGC) from an equal weight rating to an underweight rating in a research note published on Friday morning, MarketBeat Ratings reports. Barclays currently has $7.00 price objective on the stock, down from their prior price objective of $8.00.

Several other brokerages have also recently issued reports on BIGC. Needham & Company LLC restated a “buy” rating and set a $10.00 target price on shares of BigCommerce in a research report on Monday, December 9th. Stifel Nicolaus dropped their price target on shares of BigCommerce from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Thursday, October 3rd. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $8.31.

BigCommerce Price Performance

Shares of BigCommerce stock opened at $6.09 on Friday. The company has a current ratio of 2.81, a quick ratio of 2.81 and a debt-to-equity ratio of 7.48. BigCommerce has a 12 month low of $5.13 and a 12 month high of $8.98. The stock has a 50 day moving average of $6.60 and a 200 day moving average of $6.45. The firm has a market cap of $477.33 million, a PE ratio of -16.92 and a beta of 1.18.

Institutional Investors Weigh In On BigCommerce

Several hedge funds have recently modified their holdings of BIGC. Canada Pension Plan Investment Board bought a new stake in BigCommerce during the 2nd quarter valued at $35,000. Virtu Financial LLC purchased a new position in shares of BigCommerce in the third quarter worth $61,000. HighTower Advisors LLC increased its position in shares of BigCommerce by 16.8% in the 3rd quarter. HighTower Advisors LLC now owns 15,310 shares of the company’s stock valued at $89,000 after acquiring an additional 2,200 shares during the period. Harbor Capital Advisors Inc. lifted its position in BigCommerce by 93.4% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 17,179 shares of the company’s stock worth $100,000 after acquiring an additional 8,297 shares during the period. Finally, Aigen Investment Management LP purchased a new stake in BigCommerce during the 3rd quarter valued at about $105,000. Hedge funds and other 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.