BigCommerce (NASDAQ:BIGC) Trading 9.9% Higher – Here’s What Happened

by · The Markets Daily

BigCommerce Holdings, Inc. (NASDAQ:BIGC – Get Free Report)’s stock price was up 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 research analysts have commented on BIGC shares. Stifel Nicolaus decreased their target price on shares of BigCommerce from $10.00 to $8.00 and set a “buy” rating for the company in a research report 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. Barclays dropped their price target on shares of BigCommerce from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Monday, August 5th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $14.00 price objective on shares of BigCommerce in a report on Thursday, October 3rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $8.81.

Read Our Latest Report on BigCommerce

BigCommerce Trading Up 8.9 %

The company has a quick ratio of 2.81, a current ratio of 2.81 and a debt-to-equity ratio of 7.48. The firm has a market capitalization of $543.96 million, a price-to-earnings ratio of -19.25 and a beta of 0.99. The firm’s 50 day moving average is $5.79 and its 200 day moving average is $6.72.

Institutional Investors Weigh In On BigCommerce

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of BigCommerce by 5.9% in the first quarter. Vanguard Group Inc. now owns 10,278,252 shares of the company’s stock worth $70,817,000 after buying an additional 572,396 shares during the period. Acadian Asset Management LLC purchased a new position in BigCommerce during the 1st quarter worth approximately $80,000. Clearbridge Investments LLC lifted its holdings in shares of BigCommerce by 2.4% in the first quarter. Clearbridge Investments LLC now owns 1,327,083 shares of the company’s stock valued at $9,144,000 after purchasing an additional 30,683 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its position in shares of BigCommerce by 42.1% in the first quarter. CANADA LIFE ASSURANCE Co now owns 669,986 shares of the company’s stock worth $4,602,000 after buying an additional 198,638 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of BigCommerce by 6.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 50,794 shares of the company’s stock valued at $350,000 after buying an additional 3,188 shares in the last quarter. 79.21% of the stock is owned by hedge funds and other institutional investors.

BigCommerce Company Profile

(Get Free Report)

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.

Read More