BigCommerce (NASDAQ:BIGC) Updates Q2 2021 Earnings Guidance

BigCommerce (NASDAQ:BIGC) issued an update on its second quarter 2021 earnings guidance on Tuesday morning. The company provided EPS guidance of $- for the period. The company issued revenue guidance of $46.40 million-46.90 million, compared to the consensus revenue estimate of $45.67 million.

A number of research analysts recently weighed in on BIGC shares. Canaccord Genuity reduced their price objective on shares of BigCommerce from $75.00 to $55.00 and set a hold rating for the company in a research note on Wednesday, May 12th. Raymond James reissued a hold rating on shares of BigCommerce in a report on Wednesday, February 24th. Wedbush cut their target price on BigCommerce from $72.00 to $52.00 and set a neutral rating for the company in a research note on Wednesday, May 12th. Morgan Stanley upgraded BigCommerce from an underweight rating to an equal weight rating and set a $57.00 price target on the stock in a research report on Wednesday, May 12th. They noted that the move was a valuation call. Finally, Barclays cut their price objective on shares of BigCommerce from $64.00 to $53.00 and set an equal weight rating for the company in a research report on Wednesday, May 12th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $67.53.

NASDAQ BIGC opened at $59.86 on Friday. BigCommerce has a 52-week low of $42.17 and a 52-week high of $162.50. The stock’s fifty day moving average is $54.68. The company has a market cap of $4.21 billion and a P/E ratio of -57.92.

BigCommerce (NASDAQ:BIGC) last released its quarterly earnings results on Monday, May 10th. The company reported ($0.04) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.11) by $0.07. BigCommerce had a negative return on equity of 52.31% and a negative net margin of 25.37%. The business had revenue of $46.70 million for the quarter, compared to the consensus estimate of $42.18 million. The business’s revenue was up 40.7% compared to the same quarter last year. As a group, equities research analysts forecast that BigCommerce will post -0.66 EPS for the current year.

In related news, insider Jeff Mengoli sold 23,790 shares of BigCommerce stock in a transaction on Monday, March 15th. The shares were sold at an average price of $60.26, for a total value of $1,433,585.40. Following the transaction, the insider now owns 84,734 shares in the company, valued at approximately $5,106,070.84. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jeffrey Gordon Richards sold 76,818 shares of the business’s stock in a transaction on Monday, March 15th. The stock was sold at an average price of $60.48, for a total transaction of $4,645,952.64. The disclosure for this sale can be found here. In the last ninety days, insiders sold 252,026 shares of company stock valued at $14,561,773. 31.70% of the stock is owned by insiders.

BigCommerce Company Profile

BigCommerce Holdings, Inc operates a software-as-a-service platform for small businesses, mid-markets, and large enterprises in the United States. The company's platform provides various services for launching and scaling ecommerce operation, including store design, catalog management, hosting, checkout, order management, reporting, and pre-integrations.

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Earnings History and Estimates for BigCommerce (NASDAQ:BIGC)

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