BigCommerce (NASDAQ:BIGC – Get Rating) posted its quarterly earnings results on Thursday. The company reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.05, Briefing.com reports. The business had revenue of $68.20 million during the quarter, compared to analyst estimates of $66.16 million. BigCommerce had a negative net margin of 51.29% and a negative return on equity of 56.69%. The company’s revenue was up 38.9% on a year-over-year basis. During the same period in the prior year, the business posted ($0.15) earnings per share. BigCommerce updated its FY 2022 guidance to EPS and its Q3 2022 guidance to EPS.
BigCommerce Stock Up 2.6 %
Shares of BIGC traded up $0.47 during mid-day trading on Friday, hitting $18.82. The company’s stock had a trading volume of 1,107,698 shares, compared to its average volume of 951,332. The company’s 50-day moving average is $17.31 and its 200-day moving average is $20.74. BigCommerce has a 52-week low of $12.71 and a 52-week high of $67.16. The firm has a market capitalization of $1.37 billion, a price-to-earnings ratio of -10.28 and a beta of 0.78. The company has a current ratio of 6.69, a quick ratio of 6.69 and a debt-to-equity ratio of 3.06.
Wall Street Analyst Weigh In
A number of equities analysts have weighed in on the stock. Piper Sandler decreased their target price on shares of BigCommerce from $40.00 to $32.00 and set an “overweight” rating for the company in a research note on Monday, April 25th. Canaccord Genuity Group dropped their target price on shares of BigCommerce from $32.00 to $29.00 in a report on Tuesday, May 3rd. Oppenheimer assumed coverage on shares of BigCommerce in a report on Tuesday, July 26th. They issued a “market perform” rating on the stock. Barclays dropped their target price on shares of BigCommerce from $22.00 to $21.00 and set an “equal weight” rating on the stock in a report on Monday, July 18th. Finally, KeyCorp dropped their price target on shares of BigCommerce from $28.00 to $25.00 and set an “overweight” rating on the stock in a research note on Thursday, July 7th. Seven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $32.81.
Insider Transactions at BigCommerce
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of BIGC. Advisors Asset Management Inc. increased its stake in BigCommerce by 81.9% during the 1st quarter. Advisors Asset Management Inc. now owns 3,716 shares of the company’s stock valued at $81,000 after purchasing an additional 1,673 shares in the last quarter. Raymond James & Associates increased its stake in shares of BigCommerce by 87.0% in the first quarter. Raymond James & Associates now owns 10,848 shares of the company’s stock worth $238,000 after acquiring an additional 5,048 shares during the period. Cibc World Market Inc. acquired a new stake in shares of BigCommerce in the first quarter worth $393,000. HighTower Advisors LLC increased its stake in shares of BigCommerce by 8.2% in the first quarter. HighTower Advisors LLC now owns 18,730 shares of the company’s stock worth $414,000 after acquiring an additional 1,425 shares during the period. Finally, Cambridge Investment Research Advisors Inc. increased its stake in shares of BigCommerce by 14.1% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 23,621 shares of the company’s stock worth $518,000 after acquiring an additional 2,911 shares during the period. Institutional investors and hedge funds own 77.98% of the company’s stock.
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.
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