BigCommerce (NASDAQ:BIGC) Issues Quarterly Earnings Results

BigCommerce (NASDAQ:BIGC) announced its quarterly earnings results on Thursday. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.02, Briefing.com reports. BigCommerce had a negative return on equity of 82.39% and a negative net margin of 12.68%. The business had revenue of $81.83 million during the quarter, compared to the consensus estimate of $81.13 million. During the same quarter last year, the firm posted ($0.17) EPS. The company’s quarterly revenue was up 8.5% on a year-over-year basis. BigCommerce updated its FY 2024 guidance to EPS and its Q3 2024 guidance to EPS.

BigCommerce Price Performance

BIGC stock traded down $0.67 during midday trading on Friday, reaching $6.17. The company had a trading volume of 1,112,126 shares, compared to its average volume of 585,942. The company has a market capitalization of $476.82 million, a price-to-earnings ratio of -9.64 and a beta of 1.00. The stock has a 50 day moving average price of $7.92 and a 200-day moving average price of $7.57. BigCommerce has a 1-year low of $5.62 and a 1-year high of $12.75. The company has a debt-to-equity ratio of 13.04, a current ratio of 4.51 and a quick ratio of 5.06.

Insider Activity at BigCommerce

In related news, insider Brent Bellm sold 31,907 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $8.35, for a total value of $266,423.45. Following the completion of the transaction, the insider now owns 719,939 shares of the company’s stock, valued at $6,011,490.65. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other BigCommerce news, CTO Brian Singh Dhatt sold 5,787 shares of BigCommerce stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $8.35, for a total value of $48,321.45. Following the transaction, the chief technology officer now owns 240,841 shares in the company, valued at $2,011,022.35. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Brent Bellm sold 31,907 shares of BigCommerce stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $8.35, for a total value of $266,423.45. Following the completion of the transaction, the insider now owns 719,939 shares in the company, valued at approximately $6,011,490.65. The disclosure for this sale can be found here. 9.06% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on BIGC. Needham & Company LLC reaffirmed a “buy” rating and set a $14.00 price target on shares of BigCommerce in a report on Friday. Morgan Stanley dropped their target price on BigCommerce from $10.00 to $8.00 and set an “equal weight” rating for the company in a report on Wednesday, April 17th. Finally, Barclays lifted their target price on BigCommerce from $7.00 to $8.00 and gave the stock an “equal weight” rating in a report on Friday, May 10th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, BigCommerce has a consensus rating of “Hold” and a consensus price target of $9.63.

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.