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

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

A number of other brokerages also recently commented on BIGC. Bank of America reissued an “underperform” rating and issued a $7.50 price target (down previously from $11.00) on shares of BigCommerce in a report on Monday, March 25th. The Goldman Sachs Group downgraded BigCommerce from a “buy” rating to a “neutral” rating and reduced their price target for the company from $11.50 to $9.50 in a report on Monday, February 5th. Piper Sandler reduced their price target on BigCommerce from $11.00 to $9.00 and set a “neutral” rating for the company in a report on Friday, February 23rd. Truist Financial cut their price objective on BigCommerce from $10.00 to $9.00 and set a “hold” rating on the stock in a research note on Friday, February 23rd. Finally, Needham & Company LLC restated a “buy” rating and set a $20.00 price objective on shares of BigCommerce in a research note on Tuesday, January 30th. One investment 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. According to data from MarketBeat, BigCommerce has a consensus rating of “Hold” and a consensus target price of $10.25.

BigCommerce Stock Down 0.2 %

Shares of NASDAQ BIGC traded down $0.01 on Wednesday, hitting $5.88. The company had a trading volume of 440,670 shares, compared to its average volume of 659,410. BigCommerce has a 12-month low of $5.81 and a 12-month high of $12.75. The business has a 50 day moving average of $7.43 and a two-hundred day moving average of $8.48. The company has a quick ratio of 4.83, a current ratio of 4.83 and a debt-to-equity ratio of 13.30. The firm has a market capitalization of $450.41 million, a P/E ratio of -6.85 and a beta of 0.80.

Institutional Investors Weigh In On BigCommerce

Several large investors have recently modified their holdings of the stock. Nuveen Asset Management LLC raised its holdings in shares of BigCommerce by 0.8% during the fourth quarter. Nuveen Asset Management LLC now owns 155,939 shares of the company’s stock worth $1,517,000 after acquiring an additional 1,185 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of BigCommerce by 5.4% during the second quarter. The Manufacturers Life Insurance Company now owns 27,061 shares of the company’s stock worth $269,000 after acquiring an additional 1,377 shares in the last quarter. Swiss National Bank raised its holdings in shares of BigCommerce by 1.0% during the third quarter. Swiss National Bank now owns 139,300 shares of the company’s stock worth $1,375,000 after acquiring an additional 1,400 shares in the last quarter. HighTower Advisors LLC raised its holdings in shares of BigCommerce by 8.2% during the first quarter. HighTower Advisors LLC now owns 18,730 shares of the company’s stock worth $414,000 after acquiring an additional 1,425 shares in the last quarter. Finally, Advisors Asset Management Inc. raised its holdings in shares of BigCommerce by 81.9% during the first quarter. Advisors Asset Management Inc. now owns 3,716 shares of the company’s stock worth $81,000 after acquiring an additional 1,673 shares in the last quarter. 79.21% of the stock is owned by institutional investors.

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.