BigCommerce (NASDAQ:BIGC) PT Lowered to $8.00 at Morgan Stanley

BigCommerce (NASDAQ:BIGC) had its target price decreased by investment analysts at Morgan Stanley from $10.00 to $8.00 in a report released on Wednesday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s price target points to a potential upside of 36.05% from the company’s previous close.

Several other equities research analysts also recently weighed in on BIGC. Barclays decreased their price target on shares of BigCommerce from $10.00 to $7.00 and set an “equal weight” rating for the company in a research note on Monday. Needham & Company LLC reaffirmed a “buy” rating and issued a $20.00 price target on shares of BigCommerce in a research note on Tuesday, January 30th. Truist Financial decreased their price target on shares of BigCommerce from $10.00 to $9.00 and set a “hold” rating for the company in a research note on Friday, February 23rd. Piper Sandler decreased their target price on shares of BigCommerce from $11.00 to $9.00 and set a “neutral” rating for the company in a research report on Friday, February 23rd. Finally, Bank of America reissued an “underperform” rating and set a $7.50 target price (down from $11.00) on shares of BigCommerce in a research report on Monday, March 25th. One equities research 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’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $10.25.

BigCommerce Trading Down 0.2 %

Shares of NASDAQ:BIGC traded down $0.01 during mid-day trading on Wednesday, reaching $5.88. 440,670 shares of the company’s stock were exchanged, compared to its average volume of 659,410. The firm has a market capitalization of $450.41 million, a price-to-earnings ratio of -6.85 and a beta of 0.80. The business’s fifty day moving average price is $7.43 and its 200-day moving average price is $8.48. The company has a debt-to-equity ratio of 13.30, a quick ratio of 4.83 and a current ratio of 4.83. BigCommerce has a twelve month low of $5.81 and a twelve month high of $12.75.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in BigCommerce by 8.5% in the fourth quarter. Vanguard Group Inc. now owns 9,705,856 shares of the company’s stock valued at $94,438,000 after acquiring an additional 762,437 shares during the last quarter. Cadian Capital Management LP lifted its stake in shares of BigCommerce by 13.6% during the 4th quarter. Cadian Capital Management LP now owns 7,553,280 shares of the company’s stock valued at $73,493,000 after buying an additional 904,750 shares in the last quarter. Alliancebernstein L.P. lifted its stake in shares of BigCommerce by 84.8% during the 3rd quarter. Alliancebernstein L.P. now owns 5,015,401 shares of the company’s stock valued at $74,228,000 after buying an additional 2,301,491 shares in the last quarter. Morgan Stanley lifted its stake 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 buying an additional 782,862 shares in the last quarter. Finally, Wasatch Advisors LP lifted its stake in shares of BigCommerce by 1.9% during the 1st quarter. Wasatch Advisors LP now owns 2,277,520 shares of the company’s stock valued at $20,361,000 after buying an additional 41,787 shares in the last quarter. 79.21% of the stock is currently owned by hedge funds and other 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.