BigCommerce (NASDAQ:BIGC) Given New $6.00 Price Target at Barclays

BigCommerce (NASDAQ:BIGC) had its target price cut by equities research analysts at Barclays from $7.00 to $6.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has an “underweight” rating on the stock. Barclays‘s price target points to a potential upside of 17.88% from the stock’s current price.

A number of other research analysts have also weighed in on BIGC. Needham & Company LLC reaffirmed a “buy” rating and issued a $10.00 price objective on shares of BigCommerce in a research note on Wednesday, March 12th. Morgan Stanley dropped their target price on shares of BigCommerce from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 16th. Two 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’s stock. According to data from MarketBeat, BigCommerce has an average rating of “Hold” and an average target price of $7.40.

BigCommerce Stock Performance

NASDAQ BIGC opened at $5.09 on Monday. The stock has a market capitalization of $400.07 million, a P/E ratio of -14.54 and a beta of 1.17. The business has a 50 day simple moving average of $6.06 and a 200 day simple moving average of $6.22. The company has a debt-to-equity ratio of 7.48, a current ratio of 2.81 and a quick ratio of 2.81. BigCommerce has a one year low of $4.91 and a one year high of $8.60.

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

Insider Transactions at BigCommerce

In related news, Director Ellen F. Siminoff acquired 177,158 shares of the stock in a transaction dated Thursday, March 6th. The shares were purchased at an average price of $6.64 per share, for a total transaction of $1,176,329.12. Following the transaction, the director now 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 document filed with the SEC, which is available through the SEC website. Insiders own 9.06% of the company’s stock.

Hedge Funds Weigh In On BigCommerce

A number of large investors have recently bought and sold shares of the stock. Millennium Management LLC raised its position in BigCommerce by 1,073.1% during the 4th quarter. Millennium Management LLC now owns 1,245,111 shares of the company’s stock valued at $7,620,000 after purchasing an additional 1,138,977 shares during the last quarter. Divisar Capital Management LLC boosted its stake in BigCommerce by 48.5% during the fourth quarter. Divisar Capital Management LLC now owns 1,872,031 shares of the company’s stock worth $11,457,000 after acquiring an additional 611,811 shares in the last quarter. Sovereign s Capital Management LLC purchased a new stake in shares of BigCommerce in the 4th quarter worth approximately $2,586,000. Rice Hall James & Associates LLC bought a new position in shares of BigCommerce during the fourth quarter valued at $2,296,000. Finally, Monimus Capital Management LP purchased a new position in BigCommerce in the fourth quarter worth about $1,938,000. 79.21% of the stock is owned by hedge funds and other institutional investors.

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.