BigCommerce (NASDAQ:BIGC) Shares Gap Up to $6.69

BigCommerce Holdings, Inc. (NASDAQ:BIGC) gapped up prior to trading on Thursday . The stock had previously closed at $6.69, but opened at $7.15. BigCommerce shares last traded at $7.95, with a volume of 528,356 shares traded.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Bank of America reiterated an “underperform” rating and set a $7.50 target price (down from $11.00) on shares of BigCommerce in a research note on Monday, March 25th. Truist Financial lowered their target price on shares of BigCommerce from $10.00 to $9.00 and set a “hold” rating on the stock in a research note on Friday, February 23rd. 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 note on Wednesday, April 17th. Needham & Company LLC restated a “buy” rating and issued a $20.00 target price on shares of BigCommerce in a report on Tuesday, January 30th. Finally, Piper Sandler decreased their target price on shares of BigCommerce from $11.00 to $9.00 and set a “neutral” rating for the company in a research note on Friday, February 23rd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, BigCommerce has a consensus rating of “Hold” and a consensus target price of $10.25.

BigCommerce Stock Up 12.1 %

The company has a market capitalization of $574.50 million, a PE ratio of -8.87 and a beta of 0.84. The company’s fifty day moving average is $6.68 and its 200-day moving average is $8.08. The company has a debt-to-equity ratio of 13.30, a quick ratio of 4.83 and a current ratio of 4.83.

Institutional Trading of BigCommerce

Institutional investors and hedge funds have recently modified their holdings of the company. AXQ Capital LP purchased a new stake in BigCommerce in the 3rd quarter worth $110,000. Tower Research Capital LLC TRC raised its stake in shares of BigCommerce by 719.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 11,178 shares of the company’s stock valued at $109,000 after acquiring an additional 9,814 shares during the period. Versor Investments LP purchased a new position in shares of BigCommerce during the fourth quarter valued at approximately $129,000. Aigen Investment Management LP purchased a new position in BigCommerce during the 3rd quarter valued at $245,000. Finally, Corton Capital Inc. grew its holdings in shares of BigCommerce by 16.2% in the third quarter. Corton Capital Inc. now owns 29,487 shares of the company’s stock worth $291,000 after purchasing an additional 4,101 shares during the last quarter. 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.