BigCommerce (NASDAQ:BIGC) Rating Lowered to “Underweight” at Barclays

BigCommerce (NASDAQ:BIGC) was downgraded by equities research analysts at Barclays from an “equal weight” rating to an “underweight” rating in a report released on Friday, MarketBeat.com reports. They presently have a $7.00 price target on the stock, down from their prior price target of $8.00. Barclays‘s price target suggests a potential upside of 13.09% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the company. Needham & Company LLC restated a “buy” rating and set a $10.00 target price on shares of BigCommerce in a research note on Monday, December 9th. 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 report on Thursday, October 3rd. Two research analysts have rated the stock with a sell rating, four have given a hold rating and two have given 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 $8.31.

BigCommerce Price Performance

Shares of BIGC opened at $6.19 on Friday. BigCommerce has a twelve month low of $5.13 and a twelve month high of $8.98. The company has a current ratio of 2.81, a quick ratio of 2.81 and a debt-to-equity ratio of 7.48. The firm has a market capitalization of $485.17 million, a price-to-earnings ratio of -17.19 and a beta of 1.18. The firm’s fifty day simple moving average is $6.59 and its 200-day simple moving average is $6.48.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Canada Pension Plan Investment Board purchased a new stake in shares of BigCommerce during the 2nd quarter worth $35,000. Virtu Financial LLC purchased a new stake in BigCommerce during the third quarter worth about $61,000. HighTower Advisors LLC grew its position in BigCommerce by 16.8% during the third quarter. HighTower Advisors LLC now owns 15,310 shares of the company’s stock worth $89,000 after buying an additional 2,200 shares during the period. Harbor Capital Advisors Inc. grew its position in BigCommerce by 93.4% during the third quarter. Harbor Capital Advisors Inc. now owns 17,179 shares of the company’s stock worth $100,000 after buying an additional 8,297 shares during the period. Finally, Aigen Investment Management LP acquired a new stake in shares of BigCommerce during the 3rd quarter valued at approximately $105,000. Institutional investors and hedge funds own 79.21% of the company’s stock.

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.