Barclays Cuts BigCommerce (NASDAQ:BIGC) Price Target to $7.00

BigCommerce (NASDAQ:BIGC) had its price target trimmed by Barclays from $10.00 to $7.00 in a research report released on Monday morning, Benzinga reports. The firm currently has an equal weight rating on the stock.

Several other research analysts also recently commented on BIGC. Needham & Company LLC reiterated a buy rating and set a $20.00 target price on shares of BigCommerce in a research note on Tuesday, January 30th. Truist Financial decreased their price objective on shares of BigCommerce from $10.00 to $9.00 and set a hold rating on the stock in a report on Friday, February 23rd. Bank of America restated an underperform rating and set a $7.50 target price (down previously from $11.00) on shares of BigCommerce in a research note on Monday, March 25th. The Goldman Sachs Group downgraded shares of BigCommerce from a buy rating to a neutral rating and reduced their target price for the stock from $11.50 to $9.50 in a report on Monday, February 5th. Finally, Piper Sandler lowered their price target on shares of BigCommerce from $11.00 to $9.00 and set a neutral rating on the stock in a report on Friday, February 23rd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Hold and a consensus price target of $10.25.

BigCommerce Stock Performance

Shares of BIGC stock opened at $5.85 on Monday. The company has a fifty day moving average price of $7.38 and a two-hundred day moving average price of $8.46. BigCommerce has a one year low of $5.81 and a one year high of $12.75. The stock has a market cap of $448.11 million, a P/E ratio of -6.80 and a beta of 0.80. The company has a debt-to-equity ratio of 13.30, a current ratio of 4.83 and a quick ratio of 4.83.

Hedge Funds Weigh In On BigCommerce

A number of hedge funds have recently bought and sold shares of BIGC. Alliancebernstein L.P. increased its holdings in shares of BigCommerce by 84.8% during the third quarter. Alliancebernstein L.P. now owns 5,015,401 shares of the company’s stock worth $74,228,000 after purchasing an additional 2,301,491 shares during the period. Cadian Capital Management LP raised its holdings in BigCommerce by 31.0% in the 3rd quarter. Cadian Capital Management LP now owns 6,648,530 shares of the company’s stock valued at $65,621,000 after acquiring an additional 1,571,938 shares in the last quarter. Norges Bank bought a new stake in shares of BigCommerce during the 4th quarter valued at $10,236,000. Morgan Stanley lifted its position in shares of BigCommerce by 22.5% during the 3rd quarter. Morgan Stanley now owns 4,266,223 shares of the company’s stock valued at $42,108,000 after acquiring an additional 782,862 shares during the period. Finally, Vanguard Group Inc. grew its holdings in shares of BigCommerce by 8.5% during the 4th quarter. Vanguard Group Inc. now owns 9,705,856 shares of the company’s stock worth $94,438,000 after purchasing an additional 762,437 shares in the last quarter. 79.21% of the stock is owned by institutional investors.

BigCommerce Company Profile

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.