Commerce.com (NASDAQ:CMRC) Cut to Buy at Wall Street Zen

Wall Street Zen downgraded shares of Commerce.com (NASDAQ:CMRC) from a strong-buy rating to a buy rating in a report published on Saturday morning.

Several other equities analysts have also recently commented on CMRC. Canaccord Genuity Group reiterated a “hold” rating and set a $3.00 target price (down from $6.00) on shares of Commerce.com in a research note on Friday. 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. Barclays upped their price target on shares of Commerce.com from $2.00 to $3.00 and gave the company an “underweight” rating in a report on Monday, May 11th. UBS Group reiterated a “neutral” rating and set a $3.50 price objective on shares of Commerce.com in a research note on Tuesday, July 21st. Finally, Zacks Research lowered shares of Commerce.com from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. One analyst has rated the stock with a Buy rating, three have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of $4.33.

Commerce.com Price Performance

Shares of NASDAQ CMRC opened at $2.11 on Friday. Commerce.com has a fifty-two week low of $1.95 and a fifty-two week high of $5.55. The business has a 50 day moving average price of $2.91 and a two-hundred day moving average price of $2.89. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 2.95. The firm has a market cap of $174.10 million, a PE ratio of -30.14 and a beta of 1.13.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in CMRC. Pale Fire Capital SE raised its position in shares of Commerce.com by 294.2% during the 1st quarter. Pale Fire Capital SE now owns 2,952,094 shares of the company’s stock valued at $7,882,000 after acquiring an additional 2,203,169 shares in the last quarter. Geode Capital Management LLC bought a new position in Commerce.com during the fourth quarter worth $6,605,000. Marshall Wace LLP acquired a new position in Commerce.com in the fourth quarter worth $6,188,000. State Street Corp acquired a new position in Commerce.com in the fourth quarter worth $5,867,000. Finally, Potrero Capital Research LLC bought a new stake in Commerce.com during the fourth quarter valued at $5,831,000. Institutional investors and hedge funds own 79.21% of the company’s stock.

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.