BigCommerce (NASDAQ:BIGC) Releases Quarterly Earnings Results

BigCommerce (NASDAQ:BIGC) released its quarterly earnings data on Thursday. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.02, Briefing.com reports. The business had revenue of $81.83 million during the quarter, compared to analysts’ expectations of $81.13 million. BigCommerce had a negative net margin of 12.68% and a negative return on equity of 82.39%. The company’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same period in the previous year, the company earned ($0.17) EPS. BigCommerce updated its FY 2024 guidance to EPS and its Q3 2024 guidance to EPS.

BigCommerce Stock Performance

NASDAQ BIGC traded down $0.67 during trading on Friday, reaching $6.17. The company’s stock had a trading volume of 1,112,126 shares, compared to its average volume of 585,942. The company has a debt-to-equity ratio of 13.04, a quick ratio of 5.06 and a current ratio of 4.51. The firm has a market cap of $476.82 million, a price-to-earnings ratio of -9.64 and a beta of 1.00. BigCommerce has a twelve month low of $5.62 and a twelve month high of $12.75. The business’s fifty day moving average price is $7.92 and its 200-day moving average price is $7.57.

Insider Buying and Selling at BigCommerce

In other BigCommerce news, insider Brent Bellm sold 31,907 shares of BigCommerce stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $8.35, for a total value of $266,423.45. Following the transaction, the insider now directly owns 719,939 shares in the company, valued at $6,011,490.65. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CTO Brian Singh Dhatt sold 5,787 shares of the business’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $8.35, for a total transaction of $48,321.45. Following the transaction, the chief technology officer now directly owns 240,841 shares in the company, valued at $2,011,022.35. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Brent Bellm sold 31,907 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $8.35, for a total transaction of $266,423.45. Following the transaction, the insider now owns 719,939 shares in the company, valued at $6,011,490.65. The disclosure for this sale can be found here. 9.06% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on BIGC shares. Barclays lifted their price objective on shares of BigCommerce from $7.00 to $8.00 and gave the stock an “equal weight” rating in a research report on Friday, May 10th. Needham & Company LLC reissued a “buy” rating and issued a $14.00 price target on shares of BigCommerce in a research report on Friday. Finally, Morgan Stanley reduced their price target on shares of BigCommerce from $10.00 to $8.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 17th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $9.63.

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.