BigCommerce (NASDAQ:BIGC) PT Lowered to $8.00

BigCommerce (NASDAQ:BIGC) had its price target lowered by research analysts at Morgan Stanley from $10.00 to $8.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s price target indicates a potential upside of 34.68% from the stock’s current price.

A number of other analysts also recently commented on the company. Bank of America restated an “underperform” rating and issued a $7.50 target price (down previously from $11.00) on shares of BigCommerce in a research note on Monday, March 25th. The Goldman Sachs Group cut BigCommerce from a “buy” rating to a “neutral” rating and reduced their target price for the company from $11.50 to $9.50 in a report on Monday, February 5th. Barclays reduced their target price on BigCommerce from $10.00 to $7.00 and set an “equal weight” rating for the company in a report on Monday. Truist Financial cut their price target on BigCommerce from $10.00 to $9.00 and set a “hold” rating for the company in a report on Friday, February 23rd. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $20.00 price target on shares of BigCommerce in a report on Tuesday, January 30th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $10.25.

BigCommerce Stock Up 1.5 %

BigCommerce stock opened at $5.94 on Wednesday. The company has a debt-to-equity ratio of 13.30, a quick ratio of 4.83 and a current ratio of 4.83. The business’s 50-day simple moving average is $7.33 and its two-hundred day simple moving average is $8.44. The company has a market cap of $455.00 million, a PE ratio of -6.91 and a beta of 0.80. BigCommerce has a fifty-two week low of $5.81 and a fifty-two week high of $12.75.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Alliancebernstein L.P. raised its stake in shares of BigCommerce by 84.8% in the third quarter. Alliancebernstein L.P. now owns 5,015,401 shares of the company’s stock valued at $74,228,000 after acquiring an additional 2,301,491 shares in the last quarter. Cadian Capital Management LP raised its stake in shares of BigCommerce by 31.0% in the third quarter. Cadian Capital Management LP now owns 6,648,530 shares of the company’s stock valued at $65,621,000 after acquiring an additional 1,571,938 shares in the last quarter. Norges Bank acquired a new stake in shares of BigCommerce in the fourth quarter valued at $10,236,000. Morgan Stanley raised its stake in shares of BigCommerce by 22.5% in the third quarter. Morgan Stanley now owns 4,266,223 shares of the company’s stock valued at $42,108,000 after acquiring an additional 782,862 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of BigCommerce by 8.5% in the fourth quarter. Vanguard Group Inc. now owns 9,705,856 shares of the company’s stock valued at $94,438,000 after acquiring an additional 762,437 shares in the last quarter. 79.21% of the stock is currently 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.