BigCommerce (NASDAQ:BIGC) Shares Gap Up - Here's What Happened

BigCommerce Holdings, Inc. (NASDAQ:BIGC - Get Free Report) gapped up before the market opened on Thursday . The stock had previously closed at $6.69, but opened at $7.08. BigCommerce shares last traded at $6.81, with a volume of 489,774 shares.

Analyst Ratings Changes

BIGC has been the subject of a number of recent analyst reports. Needham & Company LLC restated a "buy" rating and set a $10.00 price target on shares of BigCommerce in a report on Friday. Barclays cut BigCommerce from an "equal weight" rating to an "underweight" rating and cut their target price for the stock from $8.00 to $7.00 in a research note on Friday, January 10th. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $8.14.

BigCommerce Price Performance

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 $6.40 and its two-hundred day moving average is $6.18. The stock has a market cap of $488.31 million, a price-to-earnings ratio of -17.80 and a beta of 1.18.

BigCommerce (NASDAQ:BIGC - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.02 earnings per share for the quarter, missing analysts' consensus estimates of $0.07 by ($0.05). BigCommerce had a negative net margin of 8.12% and a negative return on equity of 52.65%. The firm had revenue of $87.03 million during the quarter, compared to analyst estimates of $86.90 million. As a group, research analysts predict that BigCommerce Holdings, Inc. will post -0.16 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. International Assets Investment Management LLC acquired a new position in BigCommerce during the 3rd quarter worth $920,000. Horrell Capital Management Inc. acquired a new position in BigCommerce in the third quarter valued at $439,000. Harbor Capital Advisors Inc. boosted its stake in BigCommerce by 93.4% in the third quarter. Harbor Capital Advisors Inc. now owns 17,179 shares of the company's stock valued at $100,000 after acquiring an additional 8,297 shares in the last quarter. Aigen Investment Management LP acquired a new stake in shares of BigCommerce in the third quarter valued at approximately $105,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of BigCommerce by 196.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 387,745 shares of the company's stock valued at $2,268,000 after acquiring an additional 256,783 shares during the period. Institutional investors and hedge funds own 79.21% of the company's stock.

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.