Commerce.com (NASDAQ:CMRC) Downgraded to “Hold” Rating by Zacks Research

Commerce.com (NASDAQ:CMRC) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

A number of other brokerages have also weighed in on CMRC. Barclays boosted their price objective on shares of Commerce.com from $2.00 to $3.00 and gave the stock an “underweight” rating in a report on Monday, May 11th. Wall Street Zen raised Commerce.com from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 9th. Needham & Company LLC restated a “buy” rating and issued a $7.50 price target on shares of Commerce.com in a research note on Thursday, April 30th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Commerce.com in a report on Monday, April 20th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $4.70.

Commerce.com Stock Up 0.3%

Shares of Commerce.com stock opened at $3.19 on Monday. The company has a debt-to-equity ratio of 3.26, a quick ratio of 1.98 and a current ratio of 1.98. The stock has a market capitalization of $263.21 million, a PE ratio of -17.72 and a beta of 1.15. Commerce.com has a 52-week low of $2.41 and a 52-week high of $5.55. The company has a 50-day simple moving average of $2.91 and a two-hundred day simple moving average of $3.09.

Hedge Funds Weigh In On Commerce.com

Several hedge funds and other institutional investors have recently modified their holdings of CMRC. Pale Fire Capital SE boosted its stake in shares of Commerce.com by 294.2% in the 1st quarter. Pale Fire Capital SE now owns 2,952,094 shares of the company’s stock worth $7,882,000 after buying an additional 2,203,169 shares during the last quarter. Geode Capital Management LLC purchased a new position in Commerce.com in the fourth quarter worth about $6,605,000. Marshall Wace LLP bought a new stake in shares of Commerce.com during the 4th quarter valued at about $6,188,000. State Street Corp purchased a new stake in shares of Commerce.com during the 4th quarter valued at about $5,867,000. Finally, Potrero Capital Research LLC purchased a new stake in shares of Commerce.com during the 4th quarter valued at about $5,831,000. 79.21% of the stock is owned by institutional investors.

About Commerce.com

BigCommerce Holdings, Inc operates a software-as-a-service platform for small businesses, mid-markets, and large enterprises in the United States, Europe, the Middle East, Africa, the Asia-Pacific, and internationally. The company’s platform provides various services for launching and scaling e-commerce operation, including store design, catalog management, hosting, checkout, order management, reporting, and pre-integrations. As of December 31, 2021, it served approximately 60,000 online stores across industries.