Analysts expect that BigCommerce Holdings, Inc. (NASDAQ:BIGC) will announce $54.86 million in sales for the current fiscal quarter, according to Zacks. Eight analysts have provided estimates for BigCommerce’s earnings, with estimates ranging from $54.74 million to $55.00 million. BigCommerce posted sales of $39.74 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 38%. The business is scheduled to issue its next quarterly earnings results on Thursday, November 4th.
According to Zacks, analysts expect that BigCommerce will report full year sales of $208.69 million for the current fiscal year, with estimates ranging from $197.50 million to $211.70 million. For the next financial year, analysts forecast that the company will post sales of $262.48 million, with estimates ranging from $237.13 million to $274.75 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover BigCommerce.
Several equities research analysts recently commented on BIGC shares. Guggenheim reissued a “hold” rating on shares of BigCommerce in a report on Friday, August 27th. Jefferies Financial Group cut their price target on shares of BigCommerce from $75.00 to $64.00 in a report on Friday, May 28th. Needham & Company LLC started coverage on shares of BigCommerce in a report on Monday, August 23rd. They issued a “buy” rating and a $85.00 price target for the company. Barclays boosted their price target on shares of BigCommerce from $66.00 to $72.00 and gave the stock an “equal weight” rating in a report on Friday, August 6th. Finally, Zacks Investment Research lowered shares of BigCommerce from a “hold” rating to a “sell” rating in a report on Thursday, August 12th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, BigCommerce currently has an average rating of “Hold” and an average target price of $71.13.
In other BigCommerce news, insider Russell Scott Klein sold 10,300 shares of the company’s stock in a transaction dated Monday, June 21st. The shares were sold at an average price of $65.00, for a total value of $669,500.00. Following the transaction, the insider now owns 272,525 shares of the company’s stock, valued at $17,714,125. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Steven Joseph Murray sold 1,000 shares of the company’s stock in a transaction dated Monday, June 21st. The shares were sold at an average price of $65.01, for a total transaction of $65,010.00. The disclosure for this sale can be found here. Insiders sold 679,483 shares of company stock valued at $45,661,218 in the last three months. 31.70% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. FORA Capital LLC acquired a new stake in shares of BigCommerce during the first quarter worth about $29,000. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of BigCommerce during the second quarter worth about $39,000. Itau Unibanco Holding S.A. acquired a new stake in shares of BigCommerce during the second quarter worth about $45,000. American International Group Inc. raised its holdings in BigCommerce by 217.0% in the first quarter. American International Group Inc. now owns 897 shares of the company’s stock valued at $52,000 after acquiring an additional 614 shares in the last quarter. Finally, Abundance Wealth Counselors acquired a new stake in BigCommerce in the first quarter valued at approximately $58,000. 66.59% of the stock is currently owned by institutional investors and hedge funds.
BigCommerce Company Profile
BigCommerce Holdings, Inc operates a software-as-a-service platform for small businesses, mid-markets, and large enterprises in the United States. The company's platform provides various services for launching and scaling ecommerce operation, including store design, catalog management, hosting, checkout, order management, reporting, and pre-integrations.
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