Needham & Company LLC Reiterates “Buy” Rating for Commerce.com (NASDAQ:CMRC)

Commerce.com (NASDAQ:CMRC)‘s stock had its “buy” rating restated by stock analysts at Needham & Company LLC in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $7.50 target price on the stock. Needham & Company LLC’s target price points to a potential upside of 138.85% from the stock’s current price.

Several other research firms also recently weighed in on CMRC. Wall Street Zen downgraded shares of Commerce.com from a “strong-buy” rating to a “buy” rating in a research note on Sunday, April 19th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Commerce.com in a research note on Monday, April 20th. Zacks Research downgraded shares of Commerce.com from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 22nd. UBS Group set a $3.00 price target on shares of Commerce.com in a research note on Friday, February 13th. Finally, Barclays decreased their price target on shares of Commerce.com from $3.00 to $2.00 and set an “underweight” rating for the company in a research note on Tuesday, February 17th. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price of $5.17.

Commerce.com Trading Up 11.0%

CMRC opened at $3.14 on Thursday. Commerce.com has a 1-year low of $2.41 and a 1-year high of $5.59. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 3.89. The company has a market cap of $258.11 million, a P/E ratio of -13.65, a price-to-earnings-growth ratio of 0.98 and a beta of 1.14. The company has a fifty day moving average price of $2.79 and a two-hundred day moving average price of $3.66.

Insider Activity

In other Commerce.com news, insider Ellen F. Siminoff acquired 100,000 shares of Commerce.com stock in a transaction dated Tuesday, February 17th. The stock was purchased at an average cost of $2.94 per share, for a total transaction of $294,000.00. Following the completion of the acquisition, the insider directly owned 353,333 shares of the company’s stock, valued at $1,038,799.02. This represents a 39.47% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC acquired a new position in shares of Commerce.com during the fourth quarter valued at about $6,605,000. Marshall Wace LLP acquired a new position in shares of Commerce.com during the fourth quarter valued at about $6,188,000. State Street Corp acquired a new position in shares of Commerce.com during the fourth quarter valued at about $5,867,000. Potrero Capital Research LLC acquired a new position in shares of Commerce.com during the fourth quarter valued at about $5,831,000. Finally, M&T Bank Corp acquired a new position in shares of Commerce.com during the fourth quarter valued at about $5,679,000. 79.21% of the stock is currently owned by institutional investors and hedge funds.

About Commerce.com

BigCommerce Holdings, Inc operates a software-as-a-service platform for small businesses, mid-markets, and large enterprises in the United States, Europe, the Middle East, Africa, the Asia-Pacific, and internationally. The company’s platform provides various services for launching and scaling e-commerce operation, including store design, catalog management, hosting, checkout, order management, reporting, and pre-integrations. As of December 31, 2021, it served approximately 60,000 online stores across industries.