Wall Street Zen Upgrades Commerce.com (NASDAQ:CMRC) to Strong-Buy

Commerce.com (NASDAQ:CMRC) was upgraded by stock analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report released on Saturday.

Other equities analysts have also issued research reports about the company. Morgan Stanley lowered Commerce.com from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $6.50 to $4.00 in a report on Tuesday, January 20th. Zacks Research downgraded Commerce.com from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 22nd. Canaccord Genuity Group cut their target price on Commerce.com from $11.00 to $6.00 and set a “buy” rating on the stock in a research report on Friday. Barclays lowered their price target on Commerce.com from $5.00 to $3.00 and set an “underweight” rating for the company in a report on Monday, January 12th. Finally, UBS Group set a $3.00 price objective on shares of Commerce.com in a report on Friday. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $5.75.

Commerce.com Trading Up 12.6%

NASDAQ CMRC opened at $2.77 on Friday. Commerce.com has a 52 week low of $2.41 and a 52 week high of $7.50. The firm has a 50 day moving average of $3.77 and a two-hundred day moving average of $4.38. The company has a quick ratio of 2.14, a current ratio of 2.14 and a debt-to-equity ratio of 3.67. The stock has a market capitalization of $225.09 million, a PE ratio of -12.04 and a beta of 1.15.

Institutional Investors Weigh In On Commerce.com

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CMRC. Geode Capital Management LLC acquired a new stake in shares of Commerce.com in the fourth quarter valued at approximately $6,605,000. Marshall Wace LLP acquired a new stake in Commerce.com during the 4th quarter worth $6,188,000. State Street Corp acquired a new stake in Commerce.com during the 4th quarter worth $5,867,000. M&T Bank Corp purchased a new position in Commerce.com during the 4th quarter worth $5,679,000. Finally, Renaissance Technologies LLC acquired a new position in Commerce.com in the fourth quarter valued at $4,897,000. 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.