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Tag: BIGC Stock

  • What Is Driving The BigCommerce (BIGC) Stock Today?

    BigCommerce Holdings, Inc. (NASDAQ: BIGC) experienced a measured ascent on the market today, registering a modest 1.66% increase to reach $12.28 during the pre-market session assessment.

    This upward trajectory appears to extend the rally ignited last Friday, when the stock surged by an impressive 26.76%, concluding the weekend session at $12.08. This impressive spike followed the release of the company’s financials.

    The recent developments mark a significant juncture for BigCommerce (BIGC), as it unveiled its financial outcomes for the second quarter concluded on June 30, 2023. A notable accomplishment during this period was BIGC’s attainment of profitability on an adjusted EBITDA basis in June. Furthermore, it achieved a landmark by generating positive free cash flow for the entirety of the quarter, a feat it accomplished for the first time.

    The company’s dedication to realizing its long-term growth and profitability objectives remains unwavering. The strategic infusion of talent and the introduction of innovative products have fortified BIGC’s ability to turn its aspirations into reality.

    The company’s performance at the midpoint of the year underscores advancements across several dimensions. Particularly encouraging are the strides in margin and cash flow improvements. Notably, the performance of the small business segment surpassed expectations, translating into revenue and operating loss results that outpaced projections.

    Key financial highlights from the second quarter include total revenue of $75.4 million, marking an 11% upswing compared to the same period in 2022. The subscription revenue reached $56.1 million, an increase of 10% from the second quarter of the previous year.

    BIGC reported a GAAP gross margin of 75%, consistent with the figure from the second quarter of 2022. Notably, the non-GAAP gross margin showed a modest elevation of 77%.

    Beyond the financial realm, BigCommerce also celebrated significant strides in its operational metrics. The number of enterprise accounts surged by 9% to reach 5,929, signifying robust growth over the previous year.

    The Average Revenue Per Account (ARPA) for enterprise accounts experienced a commendable 5% rise, landing at $39,870. Geographically, the company’s revenues in the Americas recorded a commendable 9% expansion, while the EMEA region witnessed a remarkable 27% growth. In the APAC region, revenue experienced a modest but encouraging 3% increase.

    BigCommerce’s expansion endeavors also encompassed technological innovations, particularly with the infusion of AI-powered features into its platform through a collaboration with Google Cloud’s AI technologies. These enhancements hold the potential to amplify operational efficiencies, elevate customer experiences, facilitate product discovery, and ultimately drive more substantial sales for enterprise-level merchants.

    The integration of AI solutions is slated for global availability by the conclusion of 2023. By harnessing the power of AI to automate various facets of ecommerce operations, merchants stand to save time, enhance efficiency, optimize workflows, expedite product development cycles, curtail costs, and accelerate their time-to-market strategies.

  • BigCommerce Holdings Inc. (BIGC) stock Plummets After Hours on Missed 2021 Earnings

    On February 28, BigCommerce Holdings Inc. (BIGC) declared its financial results for Q4 and fiscal 2021. Consequently, the stock plunged deep in the after-hours on Monday.

    Source: Pexels

    It seems investors were looking forward to a beat result as the stock gained 2.33% during the regular trading before the earnings were released. At an above-average volume of 1.88 million shares, BIGC stock closed the regular session at a value of $25.90 per share. Following the announcement, the stock entered red and lost 16.22% in the after-hours session. Hence, BIGC stock went down to a value of $21.70 per share in the after-hours on Monday. The stock closed the session just above its 52-week low of $21.63. Thus, even a slight decline would mark a new low for the stock’s price.

    The software-as-a-service (SaaS) technology solutions developer, BigCommerce Holdings Inc. was founded in 2009. Currently, its 71.62 million outstanding shares trade at a market capitalization of $1.81 billion. BIGC stands at a year-to-date loss of 26.77% while it went down by 58.69% last year.

    BIGC’s Q4 2021 Results

    In Q4 2021, the company had revenue of $64.9 million with an increase of 50% YOY against the previous-year period.

    Moreover, the company incurred a non-GAAP net loss of $12.1 million in Q4 2021, against $8.0 million in the year-ago period. Subsequently, the non-GAAP net loss was $0.17 and $0.12 in Q4 2021 and 2020, respectively.

    Furthermore, BIGC had an adjusted EBITDA loss of $11.0 million in Q4 2021, against $6.8 million in the year-ago quarter.

    On December 31, 2021, the company had cash, cash equivalents, restricted cash, and marketable securities of $401 million.

    2022 Guidance

    For Q1 2022, the company expects a non-GAAP operating loss of $11.5-$13.5 million on revenue of $61.9-$65.1 million.

    BIGC expects a non-GAAP operating loss of $45.9-$53.9 million on revenue of $271.6-$283.6 million for fiscal 2022.

    BIGC Company News

    On February 23, the company announced direct integration with an experienced global commerce enabler, Digital River. This integration will lead to the provision of an all-in-one global commerce solution to mid-market and even enterprise BIGC merchants. The all-in-one solution will fully manage payments, tax, fraud, and compliance for simplification of cross-border selling, thus, accelerating global expansion.

    Conclusion

    While the investors were hopeful for a better outcome, the company posted a wider-than-expected loss on Monday. Therefore, disappointing the investors, the stock plunged down in the after-hours session.

  • Early Morning Vibes: 4 Stocks Worth Watching Right Now

    Early Morning Vibes: 4 Stocks Worth Watching Right Now

    Yesterday was a volatile day on Wall Street. The S&P 500 closed 0.13% lower but looking at the high and low price we see a volatility of 2.34%. The final closing price was 3,881 points. Nasdaq 100 closed 0.22% lower, but even had a movement of 3.78% intraday. The final closing price was 13,194 points. The oldest US index is known for lower volatility than the two above. The Dow rose 0.05% and had a volatility of 1.59% intraday. During the closing bell, the Dow Jones Industrial Average was trading at 31,537 points. The high volatility on the US stock exchange translated into lower Asian stock prices.

    The chairman of the Fed, Jerome Powell, took the floor yesterday. According to the Fed, it is nowhere near the time to think about normalizing monetary policy. Powell also argues that higher yields in the bond market are a sign of confidence rather than fear of inflation. A period of high inflation is usually accompanied by a period of sharply rising commodity prices. The latter are now really on the rise. You only have to take the graphs of copper, soybeans, sugar, wood, cotton and so much more. All these commodities are quoted on the futures market, which is mainly used by producers for hedging and speculators.

    Company News

    The Tesla stock started the year at $720 and yesterday the stock closed below $700. So Tesla is currently with a negative return. It is becoming more and more clear that not only Tesla is on a conquest. German car manufacturers are recording increasingly higher sales figures for their electric car segment, and Chinese competitors Nio and Xpeng are also showing increasingly better figures. Non-carmakers like Apple are also venturing into electric cars, suggesting Tesla is flattening its first mover advantage. Tesla delivered nearly 500,000 cars in 2020. According to Elon Musk, sales would increase by 50% annually for the next two years. Whether Tesla can deliver on this outlook will largely depend on how the economy recovers from the corona crisis.

    A second possible reason for the sharp fall in Tesla shares can be found in the pricing. Tesla lowered the prices of Model Y and Model 3 by about $2,000 last week. Investors now suspect that the price drops show that demand for Tesla is not as high as most expect.

    Today Top Movers

    Upwork Inc. (UPWK) stock soared 18.69% to $61.21 in the pre-market trading ‎after UPWK reported adjusted fourth-quarter profit and sales. Upwork said it earned $900,000, or 1 cent a share, contrasting with a loss of $5.5 million, or 5 cents a share, in the fourth quarter of 2019.

    ‎Arlo Technologies Inc. (NYSE: ARLO) shares are trading up 25.45% at $8.38 at the time of writing. ARLO also reported Q4 Earnings, In a note Matthew McRae, CEO of ARLO told that company closed out the year with an 89.1% year over year paid account growth.

    ‎NIO Limited (NIO), an auto manufacturers company, rose about 1.71% at $49.95 ‎in pre-market trading Wednesday.‎ The share price of NIO fell in recent days, but the drop appears to have been driven by volatility leading up to the company’s earnings report, scheduled for March 1. NIO vehicles may soon be sold in the United States thanks to strong deliveries.

    Big Rock Partners Acquisition Corp. (BRPA) grew over 49.05% at $65.0 in pre-market trading today.‎ BRPA has signed an agreement to complete a business combination with Big Rock Partners Acquisition. Announcing that the Phase 2b/3 trial of ZYESAMI for the treatment of Respiratory Failure in Covid-19 critically ill patients.

    Top Upgrades & Downgrades

    Deutsche Bank turned bullish on McAfee Corp. (MCFE), upgrading the stock to “Buy” and assigning a $23.5 price target, representing a potential upside of 20.82% from Tuesday’s close. 

    BigCommerce Holdings, Inc. (BIGC) has won the favor of KeyBanc’s equity research team. The firm upgraded the shares from Sector Weight to Overweight and moved their price target to $75, suggesting 18.43% additional upside for the stock. 

    Bank of Montreal (BMO) received an upgrade from analysts at Credit Suisse, who also set their one-year price target on the stock to $108.0. They changed their rating on BMO to Outperform from Neutral in a recently issued research note. 

    Earlier Wednesday Deutsche Bank reduced its rating on InterContinental Hotels Group PLC (IHG) stock to Hold from Buy. 

    William Blair analysts reduced their investment ratings, saying in research reports covered by the media that it’s rating for Systemax Inc. (SYX) has been changed to Market Perform from Outperform. 

    Analysts at Goldman Sachs downgraded Energizer Holdings Inc. (ENR)’s stock to Neutral from Buy Wednesday.

    Latest Insider Activity

    MGM Resorts International (MGM) Director JAMMET MARY CHRIS announced the sale of shares taking place on Feb 23 at $38.62 for some 6,626 shares. The total came to more than $0.26 million.

    SunPower Corporation (SPWR) Principal Accounting Officer Heang Vichheka sold on Feb 22 a total 2,124 shares at $35.81 on average. The insider’s sale generated proceeds of almost $76060.

    OPKO Health Inc. (OPK) CEO & Chairman FROST PHILLIP MD ET AL declared the purchase of shares taking place on Feb 19 at $4.77 for some 500,000 shares. The transaction amount was around $2.38 million.

    Sonos Inc. (SONO) Director Volpi Michelangelo bought on Feb 19 a total 53,774 shares at $37.35 on average. The purchase cost the insider an estimated $2.0 million.

    Important Earnings

    Top US earnings releases scheduled for today include The TJX Companies Inc. (NYSE: TJX). It will announce its Jan 2021 financial results. The company is expected to report earnings of $0.62 per share from revenues of $11.48B in the three-month period. 

    Analysts expect ViacomCBS Inc. (NASDAQ: VIAC) to report a net income (adjusted) of $1.02 per share when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Dec 2020 is predicted to come in at $6.88B. 

    Gran Tierra Energy Inc. (GTE), due to announce earnings after the market closes today, is expected to report revenues of $190.43M recently concluded three-month period.