Mizuho Markets Americas LLC made an intriguing announcement about one of its holdings. According to its most recent disclosure with the SEC, the firm had trimmed its stake in BigCommerce Holdings, Inc. by 30.6% during the fourth quarter of 2022. Specifically, they sold off approximately 18,200 shares of $BIGC common stock which had a total value of around $361,000.
BigCommerce Holdings is a cutting-edge provider that enables small businesses and established corporations alike to create and expand their e-commerce operations across numerous regions globally. Its software-as-a-service platform offers myriad features including catalog management functions, checkout systems, store designs, hosting services and more.
Recently a number of analysts have released research reports on $BIGCstock over the past few months. For example, DA Davidson initiated coverage in March with a “neutral” rating and a price target for shares valued at $11 per unit. Meanwhile, Needham & Company LLC reaffirmed their earlier “buy” recommendation with an upgraded price target of $20 per share.
However not all ratings were so rosy; Barclays lowered their price target estimate from $16 to just $10 per share and assigned $BIGC stock an “equal weight” classification based on such metrics as revenue growth potential and emerging competition within the marketplace. Similarly Canaccord Genuity Group downgraded $BIGC shares from $14 to $12 per unit due to concerns that smaller-tech competitors may soon begin usurping market segments once conquered by BigCommerce.
Interestingly Morgan Stanley recently revised its own forward-looking estimates downward for BigCommerce Holdings as well–cutting back from an earlier forecasted price target level of $11 down to just $10 per share instead.
All this complex analysis notwithstanding however Bloomberg.com currently displays an overall consensus view that generally characterizes $BIGC standing as being one of “Hold”, while tracking the average forecasted price target for the company at approximately $15.12 per share. Where this may lead for Mizuho Markets Americas LLC and its decision to divest some of its holdings in BigCommerce Holdings, Inc remains something of an open question worth keeping close tabs on as such developments progress over the coming weeks and months ahead.
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