Barclays analyst Raimo Lenschow has adjusted the price target for BigCommerce (BIGC, Financial) from $7 to $6, maintaining an Underweight rating on the stock. This update comes as part of the firm's analysis in anticipation of the Q1 earnings report for U.S. software companies.
The firm suggests that the first quarter may not significantly influence stock movements in this sector. Despite channel checks showing weaker performance, they aren't disastrous, the real focus will be on the guidance provided by companies. According to Barclays, it's unlikely that many management teams will make substantial downward revisions to their forecasts, as the first quarter often holds less weight in their overall performance.
Barclays anticipates that investors will remain in a wait-and-see mode until the second quarter, when more significant updates are expected. This cautious stance implies that the market may not see much change until later in the year, as companies navigate the early months with conservative outlooks.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 9 analysts, the average target price for BigCommerce Holdings Inc (BIGC, Financial) is $8.06 with a high estimate of $11.00 and a low estimate of $5.00. The average target implies an upside of 58.42% from the current price of $5.09. More detailed estimate data can be found on the BigCommerce Holdings Inc (BIGC) Forecast page.
Based on the consensus recommendation from 13 brokerage firms, BigCommerce Holdings Inc's (BIGC, Financial) average brokerage recommendation is currently 2.8, indicating "Hold" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for BigCommerce Holdings Inc (BIGC, Financial) in one year is $10.19, suggesting a upside of 100.39% from the current price of $5.085. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the BigCommerce Holdings Inc (BIGC) Summary page.
