BigCommerce Holdings, Inc. (NASDAQ:BIGC) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of BigCommerce Holdings, Inc. (NASDAQ:BIGC) have earned an average recommendation of “Hold” from the eight research firms that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and one has given a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $11.13.

BIGC has been the subject of a number of recent research reports. Piper Sandler decreased their price target on shares of BigCommerce from $11.00 to $9.00 and set a “neutral” rating for the company in a research note on Friday, February 23rd. Truist Financial decreased their price target on shares of BigCommerce from $10.00 to $9.00 and set a “hold” rating for the company in a research note on Friday, February 23rd. The Goldman Sachs Group lowered shares of BigCommerce from a “buy” rating to a “neutral” rating and decreased their price target for the company from $11.50 to $9.50 in a research note on Monday, February 5th. Bank of America restated an “underperform” rating and set a $7.50 price target (down previously from $11.00) on shares of BigCommerce in a research note on Monday. Finally, Needham & Company LLC restated a “buy” rating and set a $20.00 price target on shares of BigCommerce in a research note on Tuesday, January 30th.

BigCommerce Stock Performance

NASDAQ:BIGC opened at $6.91 on Friday. The company has a fifty day moving average of $7.94 and a 200-day moving average of $8.85. The firm has a market capitalization of $529.31 million, a P/E ratio of -8.03 and a beta of 0.82. The company has a quick ratio of 4.83, a current ratio of 4.83 and a debt-to-equity ratio of 13.30. BigCommerce has a twelve month low of $6.79 and a twelve month high of $12.75.

Hedge Funds Weigh In On BigCommerce

A number of hedge funds and other institutional investors have recently made changes to their positions in BIGC. Cadian Capital Management LP purchased a new position in shares of BigCommerce in the 2nd quarter worth about $50,512,000. Alliancebernstein L.P. boosted its holdings in shares of BigCommerce by 84.8% in the 3rd quarter. Alliancebernstein L.P. now owns 5,015,401 shares of the company’s stock worth $74,228,000 after buying an additional 2,301,491 shares during the last quarter. Norges Bank purchased a new position in shares of BigCommerce in the 4th quarter worth about $10,236,000. Morgan Stanley boosted its holdings in shares of BigCommerce by 22.5% in the 3rd quarter. Morgan Stanley now owns 4,266,223 shares of the company’s stock worth $42,108,000 after buying an additional 782,862 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of BigCommerce by 8.5% in the 4th quarter. Vanguard Group Inc. now owns 9,705,856 shares of the company’s stock worth $94,438,000 after buying an additional 762,437 shares during the last quarter. 79.21% of the stock is owned by hedge funds and other institutional investors.

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.