Bank of America Reiterates Underperform Rating for BigCommerce (NASDAQ:BIGC)

Bank of America reaffirmed their underperform rating on shares of BigCommerce (NASDAQ:BIGC) in a research report sent to investors on Monday, Marketbeat.com reports. They currently have a $7.50 price target on the stock, down from their previous price target of $11.00.

Several other research firms also recently commented on BIGC. Piper Sandler dropped their price objective on shares of BigCommerce from $11.00 to $9.00 and set a neutral rating on the stock in a report on Friday, February 23rd. The Goldman Sachs Group downgraded shares of BigCommerce from a buy rating to a neutral rating and dropped their price objective for the company from $11.50 to $9.50 in a report on Monday, February 5th. Truist Financial decreased their target price on shares of BigCommerce from $10.00 to $9.00 and set a hold rating for the company in a research note on Friday, February 23rd. Finally, Needham & Company LLC reiterated a buy rating and issued a $20.00 target price on shares of BigCommerce in a research note on Tuesday, January 30th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Hold and a consensus price target of $11.13.

BigCommerce Stock Down 0.3 %

BIGC stock opened at $6.89 on Monday. The firm’s fifty day simple moving average is $7.91 and its 200-day simple moving average is $8.84. The company has a market capitalization of $527.77 million, a P/E ratio of -8.01 and a beta of 0.82. The company has a debt-to-equity ratio of 13.30, a current ratio of 4.83 and a quick ratio of 4.83. BigCommerce has a 12 month low of $6.79 and a 12 month high of $12.75.

Hedge Funds Weigh In On BigCommerce

Large investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC raised its position in BigCommerce by 93.4% during the second quarter. Tower Research Capital LLC TRC now owns 3,711 shares of the company’s stock worth $37,000 after acquiring an additional 1,792 shares during the period. Lazard Asset Management LLC acquired a new position in BigCommerce during the third quarter worth $74,000. Advisors Asset Management Inc. raised its position in BigCommerce by 81.9% during the first quarter. Advisors Asset Management Inc. now owns 3,716 shares of the company’s stock worth $81,000 after acquiring an additional 1,673 shares during the period. State of Wyoming raised its position in BigCommerce by 291.0% during the fourth quarter. State of Wyoming now owns 10,779 shares of the company’s stock worth $94,000 after acquiring an additional 8,022 shares during the period. Finally, GSA Capital Partners LLP acquired a new position in BigCommerce during the fourth quarter worth $97,000. 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.