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

Needham & Company LLC reissued their buy rating on shares of BigCommerce (NASDAQ:BIGC) in a research note released on Wednesday,Benzinga reports. Needham & Company LLC currently has a $10.00 price objective on the stock.

Separately, Barclays lowered shares of BigCommerce from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $8.00 to $7.00 in a research note on Friday, January 10th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, BigCommerce presently has a consensus rating of “Hold” and a consensus price target of $7.80.

BigCommerce Stock Down 1.6 %

BigCommerce stock opened at $5.97 on Wednesday. The company has a market capitalization of $469.24 million, a P/E ratio of -17.06 and a beta of 1.13. The firm’s fifty day simple moving average is $6.45 and its 200-day simple moving average is $6.26. 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 1-year low of $5.13 and a 1-year high of $8.60.

BigCommerce (NASDAQ:BIGC) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.05). The business had revenue of $87.03 million for the quarter, compared to the consensus estimate of $86.90 million. BigCommerce had a negative net margin of 8.12% and a negative return on equity of 52.65%. Sell-side analysts forecast that BigCommerce will post -0.16 earnings per share for the current fiscal year.

Insider Activity at BigCommerce

In related news, Director Ellen F. Siminoff purchased 177,158 shares of the firm’s stock in a transaction on Thursday, March 6th. The shares were bought at an average cost of $6.64 per share, for a total transaction of $1,176,329.12. Following the transaction, the director now directly owns 253,333 shares of the company’s stock, valued at approximately $1,682,131.12. This trade represents a 232.57 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 9.06% of the stock is currently owned by company insiders.

Institutional Trading of BigCommerce

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Franklin Resources Inc. grew its position in BigCommerce by 1.8% in the 3rd quarter. Franklin Resources Inc. now owns 1,932,149 shares of the company’s stock worth $10,859,000 after purchasing an additional 35,016 shares during the last quarter. Divisar Capital Management LLC lifted its holdings in BigCommerce by 48.5% during the 4th quarter. Divisar Capital Management LLC now owns 1,872,031 shares of the company’s stock valued at $11,457,000 after purchasing an additional 611,811 shares during the last quarter. Clearline Capital LP lifted its holdings in 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 purchasing an additional 661,688 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of BigCommerce by 1.3% in the third quarter. Geode Capital Management LLC now owns 1,600,219 shares of the company’s stock worth $9,363,000 after acquiring an additional 21,105 shares during the last quarter. Finally, State Street Corp raised its stake in shares of BigCommerce by 1.1% in the third quarter. State Street Corp now owns 1,522,002 shares of the company’s stock worth $8,904,000 after acquiring an additional 16,561 shares during the last quarter. 79.21% of the stock is currently owned by institutional investors and hedge funds.

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.