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

BigCommerce Holdings, Inc. (NASDAQ:BIGC) shares 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 changing hands.

Wall Street Analysts Forecast Growth

Several research firms have commented on BIGC. Bank of America reissued an “underperform” rating and set a $7.50 target price (down previously from $11.00) on shares of BigCommerce in a research note on Monday, March 25th. Truist Financial dropped their target price on BigCommerce from $10.00 to $9.00 and set a “hold” rating on the stock in a report on Friday, February 23rd. The Goldman Sachs Group cut BigCommerce from a “buy” rating to a “neutral” rating and lowered their price target for the company from $11.50 to $9.50 in a research report on Monday, February 5th. Morgan Stanley decreased their target price on BigCommerce from $10.00 to $8.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 17th. Finally, Piper Sandler reduced their price objective on shares of BigCommerce from $11.00 to $9.00 and set a “neutral” rating for the company in a research report on Friday, February 23rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $10.25.

BigCommerce Stock Up 12.1 %

The company has a debt-to-equity ratio of 13.30, a quick ratio of 4.83 and a current ratio of 4.83. The stock has a market cap of $574.50 million, a price-to-earnings ratio of -8.87 and a beta of 0.84. The business’s 50 day moving average is $6.68 and its 200 day moving average is $8.08.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Cadian Capital Management LP grew its stake in shares of BigCommerce by 31.0% in the 3rd quarter. Cadian Capital Management LP now owns 6,648,530 shares of the company’s stock valued at $65,621,000 after buying an additional 1,571,938 shares in the last quarter. Norges Bank bought a new stake in BigCommerce in the fourth quarter worth approximately $10,236,000. Vanguard Group Inc. increased its stake in shares of BigCommerce by 8.5% during the 4th quarter. Vanguard Group Inc. now owns 9,705,856 shares of the company’s stock worth $94,438,000 after purchasing an additional 762,437 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in shares of BigCommerce by 94.8% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 706,676 shares of the company’s stock valued at $6,975,000 after purchasing an additional 343,855 shares in the last quarter. Finally, Steward Partners Investment Solutions LLC acquired a new stake in shares of BigCommerce in the 4th quarter valued at $3,184,000. 79.21% of the stock is owned by institutional investors and hedge funds.

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.