BigCommerce (NASDAQ:BIGC) Shares Gap Up – Time to Buy?

BigCommerce Holdings, Inc. (NASDAQ:BIGC)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $6.69, but opened at $7.08. BigCommerce shares last traded at $6.81, with a volume of 489,774 shares.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on BIGC. Barclays lowered BigCommerce from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $8.00 to $7.00 in a research report on Friday, January 10th. Needham & Company LLC reissued a “buy” rating and set a $10.00 price objective on shares of BigCommerce in a report on Friday. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $8.14.

BigCommerce Stock Performance

The company has a market cap of $488.31 million, a PE ratio of -17.80 and a beta of 1.18. The stock has a 50 day simple moving average of $6.40 and a two-hundred day simple moving average of $6.18. The company has a debt-to-equity ratio of 7.48, a current ratio of 2.81 and a quick ratio of 2.81.

BigCommerce (NASDAQ:BIGC) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.05). BigCommerce had a negative net margin of 8.12% and a negative return on equity of 52.65%. The business had revenue of $87.03 million during the quarter, compared to analysts’ expectations of $86.90 million. Equities analysts predict that BigCommerce Holdings, Inc. will post -0.16 EPS for the current year.

Hedge Funds Weigh In On BigCommerce

Several institutional investors have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC purchased a new position in shares of BigCommerce in the 3rd quarter valued at approximately $920,000. Horrell Capital Management Inc. purchased a new position in BigCommerce in the 3rd quarter valued at $439,000. Harbor Capital Advisors Inc. increased its stake in BigCommerce by 93.4% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 17,179 shares of the company’s stock valued at $100,000 after buying an additional 8,297 shares during the period. Aigen Investment Management LP purchased a new position in BigCommerce during the 3rd quarter worth $105,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of BigCommerce by 196.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 387,745 shares of the company’s stock worth $2,268,000 after acquiring an additional 256,783 shares during the period. Institutional investors and hedge funds own 79.21% of the company’s stock.

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.