Morgan Stanley Lowers BigCommerce (NASDAQ:BIGC) Price Target to $8.00

BigCommerce (NASDAQ:BIGC) had its price objective decreased by Morgan Stanley from $10.00 to $8.00 in a research note released on Wednesday morning, Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

BIGC has been the topic of a number of other research reports. Needham & Company LLC reissued a buy rating and issued a $20.00 price target on shares of BigCommerce in a report on Tuesday, January 30th. Piper Sandler dropped their target price 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. Truist Financial dropped their target price on shares of BigCommerce from $10.00 to $9.00 and set a hold rating for the company in a research report on Friday, February 23rd. Barclays dropped their target price on shares of BigCommerce from $10.00 to $7.00 and set an equal weight rating for the company in a research report on Monday, April 15th. Finally, Bank of America reaffirmed an underperform rating and issued a $7.50 target price (down from $11.00) on shares of BigCommerce in a research report on Monday, March 25th. One research analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus target price of $10.25.

BigCommerce Price Performance

Shares of BigCommerce stock opened at $5.89 on Wednesday. The firm has a market cap of $451.17 million, a PE ratio of -6.85 and a beta of 0.80. BigCommerce has a 12-month low of $5.81 and a 12-month high of $12.75. 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 company’s fifty day simple moving average is $7.27 and its two-hundred day simple moving average is $8.42.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Nuveen Asset Management LLC lifted its position in BigCommerce by 0.8% during the 4th quarter. Nuveen Asset Management LLC now owns 155,939 shares of the company’s stock valued at $1,517,000 after acquiring an additional 1,185 shares during the period. The Manufacturers Life Insurance Company raised its holdings in BigCommerce by 5.4% in the second quarter. The Manufacturers Life Insurance Company now owns 27,061 shares of the company’s stock worth $269,000 after buying an additional 1,377 shares during the last quarter. Swiss National Bank raised its holdings in BigCommerce by 1.0% in the third quarter. Swiss National Bank now owns 139,300 shares of the company’s stock worth $1,375,000 after buying an additional 1,400 shares during the last quarter. HighTower Advisors LLC raised its holdings in BigCommerce by 8.2% in the first quarter. HighTower Advisors LLC now owns 18,730 shares of the company’s stock worth $414,000 after buying an additional 1,425 shares during the last quarter. Finally, Advisors Asset Management Inc. raised its holdings in BigCommerce by 81.9% in the first quarter. Advisors Asset Management Inc. now owns 3,716 shares of the company’s stock worth $81,000 after buying an additional 1,673 shares during the last quarter. 79.21% of the stock is owned by hedge funds and other 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.