BigCommerce (BIGC) Scheduled to Unveil Quarterly Earnings this Thursday

BigCommerce is slated to disclose its quarterly earnings data before the market opens on Thursday, February 22nd. Analysts anticipate the company to report earnings of $0.05 per share for the quarter.

Performance Overview of BigCommerce Stock

On Thursday, shares of NASDAQ:BIGC commenced trading at $8.59. Presently, the company boasts a market capitalization of $653.61 million, with a price-to-earnings ratio of -6.76 and a beta of 0.83. Tracking its recent trends, the 50-day moving average price stands at $8.81, while the 200-day moving average is at $9.50. Notably, the company exhibits a current ratio of 5.09 and a quick ratio of 5.09, alongside a debt-to-equity ratio of 17.08. BigCommerce has seen a 12-month low of $6.81 and a 12-month high of $12.75.

Insight into Institutional Investor Activity

Recent market activities reveal significant involvement from hedge funds and other institutional investors. Alliancebernstein L.P., for instance, augmented its stake in BigCommerce by 84.8% during the third quarter, now holding 5,015,401 shares valued at $74,228,000. Likewise, Morgan Stanley increased its stake by 22.5%, owning 4,266,223 shares valued at $42,108,000 during the third quarter. Additionally, notable acquisitions include B. Riley Asset Management LLC and Norges Bank, with respective positions valued at $4,285,000 and $3,788,000 during the fourth quarter. Bank of America Corp DE notably grew its stake by 324.5% during the first quarter, holding 559,185 shares valued at $4,999,000. Collectively, hedge funds and other institutional investors now possess 72.92% of the company’s stock.

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Insights from Wall Street Analysts

A range of equity analysts has recently published reports on BIGC shares. Piper Sandler reaffirmed a “neutral” rating, setting a $11.00 price target on BigCommerce shares. Needham & Company LLC upheld a “buy” rating, with a $20.00 price target. Conversely, Truist Financial lowered its price target from $12.00 to $10.00, maintaining a “hold” rating, while The Goldman Sachs Group downgraded BigCommerce from “buy” to “neutral,” reducing the price target from $11.50 to $9.50. Presently, seven analysts advocate a hold rating, with two endorsing a buy rating. MarketBeat.com notes an average rating of “Hold” for BigCommerce, with a consensus price target of $11.94.