BigCommerce (NASDAQ:BIGC) Given “Buy” Rating at Needham & Company LLC

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

Separately, Barclays downgraded shares of BigCommerce from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $8.00 to $7.00 in a research note on Friday, January 10th. Two equities research 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, the company presently has an average rating of “Hold” and an average target price of $7.80.

BigCommerce Price Performance

Shares of NASDAQ:BIGC opened at $5.98 on Wednesday. The company has a market cap of $470.03 million, a price-to-earnings ratio of -17.09 and a beta of 1.13. The company has a debt-to-equity ratio of 7.48, a current ratio of 2.81 and a quick ratio of 2.81. The firm has a 50 day simple moving average of $6.46 and a 200 day simple moving average of $6.26. BigCommerce has a one year low of $5.13 and a one 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 (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 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%. Research analysts predict that BigCommerce will post -0.16 earnings per share for the current fiscal year.

Insider Transactions at BigCommerce

In other news, Director Ellen F. Siminoff acquired 177,158 shares of the firm’s stock in a transaction dated Thursday, March 6th. The stock was bought at an average cost of $6.64 per share, for a total transaction of $1,176,329.12. Following the completion of the transaction, the director now directly owns 253,333 shares in the company, valued at $1,682,131.12. This represents a 232.57 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 9.06% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On BigCommerce

Large investors have recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of BigCommerce during the fourth quarter worth $35,000. New York State Common Retirement Fund increased its position in shares of BigCommerce by 105.3% during the fourth quarter. New York State Common Retirement Fund now owns 8,579 shares of the company’s stock worth $53,000 after buying an additional 4,400 shares during the period. Virtu Financial LLC acquired a new stake in BigCommerce in the third quarter worth $61,000. Headlands Technologies LLC grew its holdings in BigCommerce by 260.5% in the fourth quarter. Headlands Technologies LLC now owns 9,938 shares of the company’s stock worth $61,000 after purchasing an additional 7,181 shares during the period. Finally, Sanctuary Advisors LLC acquired a new stake in BigCommerce in the fourth quarter worth $66,000. 79.21% of the stock is currently owned by institutional investors and hedge funds.

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.