BigCommerce (NASDAQ:BIGC) Stock Price Up 18.5% – Time to Buy?

BigCommerce Holdings, Inc. (NASDAQ:BIGC)’s share price shot up 18.5% during mid-day trading on Thursday . The company traded as high as $6.85 and last traded at $6.74. 440,420 shares were traded during mid-day trading, a decline of 43% from the average session volume of 775,858 shares. The stock had previously closed at $5.69.

Analysts Set New Price Targets

Several brokerages recently commented on BIGC. Bank of America reduced their price objective on shares of BigCommerce from $8.00 to $6.00 and set an “underperform” rating for the company in a research note on Thursday, August 29th. Stifel Nicolaus decreased their price target on shares of BigCommerce from $10.00 to $8.00 and set a “buy” rating on the stock in a report on Thursday, October 3rd. Needham & Company LLC reiterated a “buy” rating and issued a $14.00 price objective on shares of BigCommerce in a research report on Thursday, October 3rd. Finally, Barclays reduced their target price on BigCommerce from $8.00 to $7.00 and set an “equal weight” rating for the company in a research report on Monday, August 5th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $8.81.

BigCommerce Price Performance

The firm has a market capitalization of $481.29 million, a P/E ratio of -11.91 and a beta of 0.99. The firm’s 50 day simple moving average is $5.70 and its two-hundred day simple moving average is $6.70. The company has a debt-to-equity ratio of 13.04, a current ratio of 4.51 and a quick ratio of 4.51.

Institutional Investors Weigh In On BigCommerce

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board purchased a new position in shares of BigCommerce during the second quarter valued at approximately $35,000. Acadian Asset Management LLC bought a new position in BigCommerce in the 1st quarter worth $80,000. AQR Capital Management LLC bought a new position in BigCommerce in the 2nd quarter worth $121,000. Virtu Financial LLC purchased a new stake in shares of BigCommerce in the 1st quarter worth about $104,000. Finally, International Assets Investment Management LLC bought a new stake in shares of BigCommerce during the 3rd quarter valued at about $920,000. 79.21% of the stock is currently owned by 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.