Barclays Raises BigCommerce (NASDAQ:BIGC) Price Target to $8.00

BigCommerce (NASDAQ:BIGC - Get Free Report) had its price objective boosted by stock analysts at Barclays from $7.00 to $8.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Barclays's price target would suggest a potential upside of 3.23% from the stock's previous close.

Several other analysts have also recently commented on BIGC. Stifel Nicolaus cut their price objective on shares of BigCommerce from $10.00 to $8.00 and set a "buy" rating for the company in a report on Thursday, October 3rd. Needham & Company LLC reiterated a "buy" rating and set a $14.00 price objective on shares of BigCommerce in a research report on Thursday, October 3rd. Finally, Bank of America dropped their target price on BigCommerce from $8.00 to $6.00 and set an "underperform" rating for the company in a report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $8.94.

BigCommerce Stock Performance

BigCommerce stock traded up $0.22 during mid-day trading on Friday, hitting $7.75. The company had a trading volume of 1,052,054 shares, compared to its average volume of 1,088,628. BigCommerce has a 12-month low of $5.13 and a 12-month high of $10.19. The company has a current ratio of 2.81, a quick ratio of 2.81 and a debt-to-equity ratio of 7.48. The company's fifty day moving average is $6.13 and its 200-day moving average is $6.72. The company has a market capitalization of $607.45 million, a price-to-earnings ratio of -21.53 and a beta of 1.15.

Hedge Funds Weigh In On BigCommerce

Large investors have recently bought and sold shares of the stock. Franklin Resources Inc. boosted its stake in shares of BigCommerce by 1.8% during the third quarter. Franklin Resources Inc. now owns 1,932,149 shares of the company's stock worth $10,859,000 after buying an additional 35,016 shares during the period. Clearline Capital LP lifted its position in BigCommerce by 69.7% during the 3rd quarter. Clearline Capital LP now owns 1,611,619 shares of the company's stock worth $9,428,000 after acquiring an additional 661,688 shares during the period. Geode Capital Management LLC increased its holdings in shares of BigCommerce by 1.3% in the third quarter. Geode Capital Management LLC now owns 1,600,219 shares of the company's stock valued at $9,363,000 after purchasing an additional 21,105 shares during the period. State Street Corp increased its holdings in shares of BigCommerce by 1.1% in the third 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. Finally, Clearbridge Investments LLC raised its stake in shares of BigCommerce by 8.0% during the second quarter. Clearbridge Investments LLC now owns 1,433,163 shares of the company's stock worth $11,551,000 after purchasing an additional 106,080 shares during the last quarter. Institutional investors and hedge funds own 79.21% of the company's stock.

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.