Commerce.com (NASDAQ:CMRC) Given “Hold” Rating at Canaccord Genuity Group

Canaccord Genuity Group reissued their hold rating on shares of Commerce.com (NASDAQ:CMRC) in a research report released on Friday, MarketBeat.com reports. They currently have a $3.00 target price on the stock, down from their prior target price of $6.00.

CMRC has been the subject of several other research reports. Needham & Company LLC reiterated a “buy” rating and issued a $7.50 target price on shares of Commerce.com in a report on Thursday, April 30th. Barclays upped their price target on Commerce.com from $2.00 to $3.00 and gave the stock an “underweight” rating in a research note on Monday, May 11th. Wall Street Zen upgraded Commerce.com from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Zacks Research cut Commerce.com from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. Finally, UBS Group reiterated a “neutral” rating and issued a $3.50 price objective on shares of Commerce.com in a report on Tuesday, July 21st. One analyst has rated the stock with a Buy rating, three have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, Commerce.com currently has a consensus rating of “Reduce” and an average target price of $4.20.

Commerce.com Trading Down 4.3%

NASDAQ CMRC opened at $2.22 on Friday. The company has a debt-to-equity ratio of 3.26, a current ratio of 1.98 and a quick ratio of 1.98. The stock has a market capitalization of $183.17 million, a P/E ratio of -31.71 and a beta of 1.14. The firm’s 50-day moving average is $2.93 and its two-hundred day moving average is $2.91. Commerce.com has a 12 month low of $1.95 and a 12 month high of $5.55.

Institutional Trading of Commerce.com

A number of large investors have recently modified their holdings of CMRC. Bank of New York Mellon Corp acquired a new stake in shares of Commerce.com in the second quarter valued at $689,000. Williams & Novak LLC acquired a new stake in Commerce.com in the 2nd quarter valued at about $38,000. Segall Bryant & Hamill LLC acquired a new stake in Commerce.com in the 1st quarter valued at about $926,000. Royal Bank of Canada boosted its stake in shares of Commerce.com by 17.0% in the 1st quarter. Royal Bank of Canada now owns 111,484 shares of the company’s stock valued at $298,000 after buying an additional 16,213 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in shares of Commerce.com by 5.3% in the 1st quarter. Renaissance Technologies LLC now owns 1,252,100 shares of the company’s stock valued at $3,343,000 after buying an additional 63,400 shares during the period. Hedge funds and other institutional investors own 79.21% of the company’s stock.

Commerce.com Company Profile

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.