Commerce.com (NASDAQ:CMRC) Upgraded by Zacks Research to Strong-Buy Rating

Zacks Research upgraded shares of Commerce.com (NASDAQ:CMRC) from a hold rating to a strong-buy rating in a research report report published on Tuesday,Zacks.com reports.

Several other equities research analysts also recently commented on CMRC. Canaccord Genuity Group reduced their target price on Commerce.com from $11.00 to $6.00 and set a “buy” rating for the company in a report on Friday, February 13th. UBS Group set a $3.00 price target on Commerce.com in a research report on Friday, February 13th. Weiss Ratings reissued a “sell (e+)” rating on shares of Commerce.com in a research report on Monday, April 20th. Wall Street Zen raised Commerce.com from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Finally, Barclays upped their price target on Commerce.com from $2.00 to $3.00 and gave the company an “underweight” rating in a research report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $4.70.

Commerce.com Trading Up 1.0%

Shares of NASDAQ CMRC opened at $2.94 on Tuesday. Commerce.com has a 12 month low of $2.41 and a 12 month high of $5.55. The company has a market cap of $242.58 million, a price-to-earnings ratio of -16.33 and a beta of 1.14. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 3.26. The business has a fifty day simple moving average of $2.81 and a 200-day simple moving average of $3.44.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CMRC. Segall Bryant & Hamill LLC acquired a new position in Commerce.com in the 1st quarter worth about $926,000. Royal Bank of Canada increased its position in Commerce.com by 17.0% in the 1st quarter. Royal Bank of Canada now owns 111,484 shares of the company’s stock worth $298,000 after purchasing an additional 16,213 shares during the last quarter. Renaissance Technologies LLC increased its position in Commerce.com by 5.3% in the 1st quarter. Renaissance Technologies LLC now owns 1,252,100 shares of the company’s stock worth $3,343,000 after purchasing an additional 63,400 shares during the last quarter. Pale Fire Capital SE increased its position in Commerce.com by 294.2% in the 1st quarter. Pale Fire Capital SE now owns 2,952,094 shares of the company’s stock worth $7,882,000 after purchasing an additional 2,203,169 shares during the last quarter. Finally, Sei Investments Co. increased its position in Commerce.com by 418.1% in the 1st quarter. Sei Investments Co. now owns 53,469 shares of the company’s stock worth $143,000 after purchasing an additional 43,148 shares during the last quarter. 79.21% of the stock is owned by institutional investors and hedge funds.

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.