BigCommerce (NASDAQ:BIGC) Trading Up 9.9% – Should You Buy?

Shares of BigCommerce Holdings, Inc. (NASDAQ:BIGC) rose 9.9% on Thursday . The stock traded as high as $7.00 and last traded at $7.00. Approximately 433,388 shares changed hands during mid-day trading, a decline of 46% from the average daily volume of 795,848 shares. The stock had previously closed at $6.37.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Barclays reduced their price target on BigCommerce from $8.00 to $7.00 and set an “equal weight” rating for the company in a report on Monday, August 5th. Needham & Company LLC reissued a “buy” rating and issued a $14.00 price objective on shares of BigCommerce in a research note on Thursday, October 3rd. Bank of America lowered their price target on BigCommerce from $8.00 to $6.00 and set an “underperform” rating on the stock in a report on Thursday, August 29th. Finally, Stifel Nicolaus reduced their price objective on shares of BigCommerce from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $8.81.

BigCommerce Stock Performance

The company has a market cap of $543.96 million, a P/E ratio of -19.25 and a beta of 0.99. The firm’s fifty day moving average price is $5.79 and its 200-day moving average price is $6.72. The company has a current ratio of 2.81, a quick ratio of 2.81 and a debt-to-equity ratio of 7.48.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Virtu Financial LLC acquired a new position in shares of BigCommerce in the 3rd quarter valued at $61,000. Barclays PLC increased its stake in BigCommerce by 154.9% in the third quarter. Barclays PLC now owns 116,667 shares of the company’s stock valued at $682,000 after acquiring an additional 70,902 shares during the period. Geode Capital Management LLC lifted its stake in BigCommerce by 1.3% during the third quarter. Geode Capital Management LLC now owns 1,600,219 shares of the company’s stock worth $9,363,000 after purchasing an additional 21,105 shares during the period. Jane Street Group LLC boosted its holdings in BigCommerce by 88.2% during the third quarter. Jane Street Group LLC now owns 206,265 shares of the company’s stock valued at $1,207,000 after purchasing an additional 96,667 shares in the last quarter. Finally, State Street Corp grew its stake in shares of BigCommerce by 1.1% in the 3rd quarter. State Street Corp now owns 1,522,002 shares of the company’s stock valued at $8,904,000 after purchasing an additional 16,561 shares during the period. 79.21% of the stock is owned by 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.