Needham & Company LLC Reiterates Buy Rating for BigCommerce (NASDAQ:BIGC)

BigCommerce (NASDAQ:BIGC - Get Free Report)'s stock had its "buy" rating restated by research analysts at Needham & Company LLC in a note issued to investors on Monday,Benzinga reports. They presently have a $10.00 price objective on the stock. Needham & Company LLC's price target indicates a potential upside of 29.37% from the stock's current price.

Several other research analysts have also commented on the stock. Stifel Nicolaus reduced their price objective on shares of BigCommerce from $10.00 to $8.00 and set a "buy" rating for the company in a research note on Thursday, October 3rd. Barclays boosted their price target on BigCommerce from $7.00 to $8.00 and gave the company an "equal weight" rating in a research note on Friday. Finally, Bank of America decreased 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 investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $8.44.

BigCommerce Trading Down 0.3 %

BIGC stock traded down $0.02 during midday trading on Monday, reaching $7.73. The company's stock had a trading volume of 924,940 shares, compared to its average volume of 810,159. The company has a debt-to-equity ratio of 7.48, a quick ratio of 2.81 and a current ratio of 2.81. The firm has a market capitalization of $605.88 million, a price-to-earnings ratio of -21.61 and a beta of 1.15. The stock has a fifty day simple moving average of $6.13 and a two-hundred day simple moving average of $6.70. BigCommerce has a 1 year low of $5.13 and a 1 year high of $10.19.

Hedge Funds Weigh In On BigCommerce

Several hedge funds and other institutional investors have recently modified their holdings of the business. Canada Pension Plan Investment Board acquired a new position in BigCommerce during the second quarter worth $35,000. Virtu Financial LLC purchased a new stake in shares of BigCommerce in the 3rd quarter valued at approximately $61,000. AQR Capital Management LLC acquired a new stake in shares of BigCommerce during the 2nd quarter worth approximately $121,000. HighTower Advisors LLC raised its position in shares of BigCommerce by 16.8% during the 3rd quarter. HighTower Advisors LLC now owns 15,310 shares of the company's stock valued at $89,000 after buying an additional 2,200 shares during the period. Finally, International Assets Investment Management LLC acquired a new position in BigCommerce in the third quarter valued at approximately $920,000. 79.21% of the stock is owned by hedge funds and other institutional investors.

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.