Analyst David Hynes of Canaccord Genuity maintained a Buy rating on BigCommerce Holdings (BIGC – Research Report), with a price target of $11.00.
David Hynes has given his Buy rating due to a combination of factors surrounding BigCommerce Holdings. The company is in the midst of a business transformation, highlighted by a new leadership team and strategic shifts in its sales and marketing organization. These changes are aimed at enhancing integration, expanding quota capacity, and improving operational efficiency. Although the transformation is still early in execution, the groundwork being laid could potentially lead to better growth outcomes in the future.
Despite modest Q4 results with revenue growth at 3% and slight improvements in profitability, BigCommerce has shown positive signs in cost management. The company’s focus remains on growth, with expectations for improvement in the latter half of 2025. While there is no immediate catalyst, the current valuation suggests limited downside risk, making it an attractive buy from a valuation perspective, as the stock trades at a low multiple. The emphasis now is on management to deliver on growth expectations.
Hynes covers the Technology sector, focusing on stocks such as ServiceNow, Atlassian, and Workday. According to TipRanks, Hynes has an average return of 9.3% and a 54.93% success rate on recommended stocks.
In another report released yesterday, Needham also maintained a Buy rating on the stock with a $10.00 price target.