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

by · The Cerbat Gem

BigCommerce (NASDAQ:BIGC – Get Free Report)‘s stock had its “buy” rating reiterated by equities researchers at Needham & Company LLC in a research report issued to clients and investors on Thursday, Benzinga reports. They presently have a $14.00 price objective on the stock. Needham & Company LLC’s price target indicates a potential upside of 139.73% from the company’s current price.

A number of other equities research analysts also recently commented on BIGC. Barclays decreased their target price on BigCommerce from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Monday, August 5th. Bank of America lowered their target price on BigCommerce from $8.00 to $6.00 and set an “underperform” rating for the company in a research report on Thursday, August 29th. Finally, Stifel Nicolaus reduced their price target on shares of BigCommerce from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Thursday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $8.81.

Read Our Latest Research Report on BigCommerce

BigCommerce Price Performance

NASDAQ:BIGC opened at $5.84 on Thursday. The stock has a market cap of $451.29 million, a PE ratio of -9.13 and a beta of 0.98. The company has a quick ratio of 4.51, a current ratio of 4.51 and a debt-to-equity ratio of 13.04. The business’s 50-day simple moving average is $5.98 and its two-hundred day simple moving average is $6.87. BigCommerce has a 52 week low of $5.35 and a 52 week high of $10.29.

BigCommerce (NASDAQ:BIGC – Get Free Report) last issued its earnings results on Thursday, August 1st. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02. The firm had revenue of $81.83 million during the quarter, compared to analyst estimates of $81.13 million. BigCommerce had a negative net margin of 12.68% and a negative return on equity of 82.39%. BigCommerce’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.17) earnings per share. As a group, analysts forecast that BigCommerce will post -0.3 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of BIGC. Canada Pension Plan Investment Board bought a new stake in shares of BigCommerce in the 2nd quarter worth about $35,000. Acadian Asset Management LLC bought a new stake in BigCommerce in the first quarter worth about $80,000. Virtu Financial LLC purchased a new position in shares of BigCommerce during the first quarter valued at approximately $104,000. AQR Capital Management LLC bought a new position in shares of BigCommerce during the second quarter valued at approximately $121,000. Finally, Bayesian Capital Management LP purchased a new stake in shares of BigCommerce in the first quarter worth approximately $144,000. 79.21% of the stock is owned by hedge funds and other institutional investors.

BigCommerce Company Profile

(Get Free Report)

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.

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