BigCommerce (NASDAQ:BIGC) Price Target Cut to $7.00 by Analysts at Morgan Stanley

BigCommerce (NASDAQ:BIGC) had its price target decreased by research analysts at Morgan Stanley from $8.00 to $7.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s target price would indicate a potential upside of 35.92% from the stock’s current price.

Other research analysts have also issued reports about the stock. Barclays lowered shares of BigCommerce from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $8.00 to $7.00 in a research note on Friday, January 10th. Needham & Company LLC reiterated a “buy” rating and set a $10.00 price objective on shares of BigCommerce in a research note on Wednesday, March 12th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $7.60.

BigCommerce Stock Performance

NASDAQ:BIGC traded down $0.01 during trading hours on Wednesday, reaching $5.15. The stock had a trading volume of 247,072 shares, compared to its average volume of 874,600. The stock has a market cap of $404.79 million, a P/E ratio of -14.77 and a beta of 1.17. The stock has a 50 day simple moving average of $6.16 and a 200 day simple moving average of $6.23. The company has a debt-to-equity ratio of 7.48, a quick ratio of 2.81 and a current ratio of 2.81. BigCommerce has a 12-month low of $4.91 and a 12-month high of $8.60.

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

Insider Buying and Selling at BigCommerce

In other BigCommerce news, Director Ellen F. Siminoff acquired 177,158 shares of the stock in a transaction that occurred on Thursday, March 6th. The shares were bought at an average price of $6.64 per share, for a total transaction of $1,176,329.12. Following the completion of the transaction, the director now owns 253,333 shares of the company’s stock, valued at approximately $1,682,131.12. This represents a 232.57 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 9.06% of the company’s stock.

Hedge Funds Weigh In On BigCommerce

Institutional investors have recently added to or reduced their stakes in the business. Next Level Private LLC purchased a new position in shares of BigCommerce during the first quarter worth about $58,000. Rhumbline Advisers lifted its position in BigCommerce by 3.6% during the first quarter. Rhumbline Advisers now owns 101,451 shares of the company’s stock valued at $584,000 after purchasing an additional 3,535 shares during the last quarter. GAMMA Investing LLC grew its stake in BigCommerce by 8,196.8% in the 1st quarter. GAMMA Investing LLC now owns 5,144 shares of the company’s stock worth $30,000 after buying an additional 5,082 shares in the last quarter. Mackenzie Financial Corp bought a new position in shares of BigCommerce in the 4th quarter worth $482,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of BigCommerce by 20.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 111,052 shares of the company’s stock valued at $680,000 after buying an additional 18,903 shares in the last quarter. 79.21% of the stock is currently owned by institutional investors.

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.