BigCommerce (NASDAQ:BIGC) Posts Quarterly Earnings Results, Beats Estimates By $0.20 EPS

BigCommerce (NASDAQ:BIGC) issued its earnings results on Wednesday. The company reported ($0.38) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.58) by $0.20, MarketWatch Earnings reports. The business had revenue of $36.30 million for the quarter, compared to analysts’ expectations of $35.61 million. BigCommerce’s revenue was up 33.5% compared to the same quarter last year. BigCommerce updated its FY 2020
After-Hours guidance to EPS and its Q3 2020
After-Hours guidance to EPS.

Shares of NASDAQ BIGC opened at $82.87 on Friday. BigCommerce has a 52-week low of $63.77 and a 52-week high of $162.50.

Several research analysts recently issued reports on BIGC shares. Needham & Company LLC started coverage on shares of BigCommerce in a report on Monday, August 31st. They set a “buy” rating and a $132.00 target price for the company. Morgan Stanley raised their price target on shares of BigCommerce from $52.00 to $53.00 and gave the company an “underweight” rating in a research report on Thursday. Canaccord Genuity dropped their price target on shares of BigCommerce from $125.00 to $90.00 and set a “hold” rating on the stock in a research report on Thursday. They noted that the move was a valuation call. Jefferies Financial Group started coverage on shares of BigCommerce in a research report on Monday, August 31st. They set a “hold” rating and a $130.00 price target on the stock. Finally, Raymond James started coverage on shares of BigCommerce in a research report on Monday, August 31st. They set a “market perform” rating on the stock. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $100.00.

About BigCommerce

BigCommerce Holdings, Inc operates a software-as-a-service platform in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company's platform simplifies the creation of engaging online stores. It powers its customers' branded ecommerce stores and their cross-channel connections to various online marketplaces, social networks, and offline point-of-sale systems.

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