Barclays Downgrades BigCommerce (NASDAQ:BIGC) to Underweight

Barclays lowered shares of BigCommerce (NASDAQ:BIGC - Free Report) from an equal weight rating to an underweight rating in a research note published on Friday, Marketbeat Ratings reports. They currently have $7.00 price target on the stock, down from their prior price target of $8.00.

Other research analysts have also recently issued research reports about the company. Needham & Company LLC restated a "buy" rating and set a $10.00 price objective on shares of BigCommerce in a research note on Monday, December 9th. Stifel Nicolaus dropped their target price on BigCommerce from $10.00 to $8.00 and set a "buy" rating on the stock in a report on Thursday, October 3rd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $8.31.

BigCommerce Stock Down 1.6 %

Shares of NASDAQ:BIGC traded down $0.10 during midday trading on Friday, hitting $6.09. 903,073 shares of the company's stock traded hands, compared to its average volume of 802,212. The firm's fifty day moving average price is $6.60 and its two-hundred day moving average price is $6.47. The company has a debt-to-equity ratio of 7.48, a quick ratio of 2.81 and a current ratio of 2.81. BigCommerce has a twelve month low of $5.13 and a twelve month high of $8.98. The company has a market cap of $477.33 million, a PE ratio of -16.92 and a beta of 1.18.

Hedge Funds Weigh In On BigCommerce

A number of institutional investors have recently made changes to their positions in BIGC. Clearline Capital LP increased its holdings in BigCommerce by 69.7% in the third quarter. Clearline Capital LP now owns 1,611,619 shares of the company's stock valued at $9,428,000 after buying an additional 661,688 shares during the last quarter. Divisar Capital Management LLC bought a new stake in shares of BigCommerce in the 2nd quarter valued at approximately $4,274,000. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of BigCommerce by 196.1% during the 3rd 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 in the last quarter. 272 Capital LP lifted its stake in BigCommerce by 40.0% during the second quarter. 272 Capital LP now owns 884,750 shares of the company's stock worth $7,131,000 after purchasing an additional 252,946 shares during the last quarter. Finally, Algert Global LLC boosted its holdings in BigCommerce by 67.7% in the third quarter. Algert Global LLC now owns 449,072 shares of the company's stock worth $2,627,000 after purchasing an additional 181,222 shares during the period. 79.21% of the stock is owned by institutional investors and hedge funds.

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.