BigCommerce (NASDAQ:BIGC) Given Buy Rating at Needham & Company LLC

BigCommerce (NASDAQ:BIGC)‘s stock had its “buy” rating restated by analysts at Needham & Company LLC in a research report issued on Wednesday,Benzinga reports. They presently have a $10.00 target price on the stock. Needham & Company LLC’s price objective would suggest a potential upside of 62.87% from the company’s current price.

Separately, Barclays cut BigCommerce from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $8.00 to $7.00 in a research note on Friday, January 10th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company. According to MarketBeat, BigCommerce has an average rating of “Hold” and an average target price of $7.80.

BigCommerce Trading Up 6.6 %

BIGC stock opened at $6.14 on Wednesday. The firm has a fifty day moving average price of $6.46 and a 200 day moving average price of $6.27. BigCommerce has a fifty-two week low of $5.13 and a fifty-two week high of $8.60. The firm has a market cap of $482.60 million, a PE ratio of -17.54 and a beta of 1.13. The company has a debt-to-equity ratio of 7.48, a quick ratio of 2.81 and a current ratio of 2.81.

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

Insider Transactions at BigCommerce

In other news, Director Ellen F. Siminoff acquired 177,158 shares of BigCommerce stock in a transaction that occurred on Thursday, March 6th. The shares were bought at an average cost of $6.64 per share, with a total value of $1,176,329.12. Following the transaction, the director now directly owns 253,333 shares of the company’s stock, valued at $1,682,131.12. This trade represents a 232.57 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Company insiders own 9.06% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of BIGC. Millennium Management LLC lifted its stake in shares of BigCommerce by 1,073.1% during the 4th quarter. Millennium Management LLC now owns 1,245,111 shares of the company’s stock worth $7,620,000 after acquiring an additional 1,138,977 shares during the last quarter. Clearline Capital LP increased its stake in BigCommerce by 69.7% in the third quarter. Clearline Capital LP now owns 1,611,619 shares of the company’s stock worth $9,428,000 after purchasing an additional 661,688 shares during the period. Divisar Capital Management LLC lifted its position in shares of 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 purchasing an additional 611,811 shares during the last quarter. Sovereign s Capital Management LLC purchased a new stake in shares of BigCommerce during the fourth quarter valued at $2,586,000. Finally, Rice Hall James & Associates LLC bought a new position in shares of BigCommerce in the fourth quarter worth about $2,296,000. Hedge funds and other institutional investors own 79.21% of the company’s stock.

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.