Software-as-a-service (SaaS) firm BigCommerce Holdings, Inc. (NASDAQ: BIGC) has expanded its presence into Germany, Mexico and Spain. The expansion comes six months after the platform’s launch in the Netherlands, Italy and France.
Merchants in Germany, Mexico and Spain will be able to use BigCommerce’s omnichannel capabilities to internationally scale their B2C and B2B businesses and boost revenue.
Meghan Stabler, Vice-President of International Marketing at BigCommerce, said, “A robust and flexible E-commerce platform that can grow in parallel with business needs is critical for merchants to gain solid footing in today’s increasingly digital world. This is the competitive advantage BigCommerce offers to retailers in our newest regions.”
“Coupled with local support and translated resources to establish their brand, connect with customers and build trust, our solution primes businesses to enrich the online customer shopping experience and positions them to innovate in today’s rapidly evolving marketplace,” Stabler added.
Texas-based BigCommerce provides an open SaaS E-commerce platform that helps merchants grow their businesses online. With offices in London, Kyiv, San Francisco, and Sydney, the company has tens of thousands of clients across 150 nations. Its clients include Ben & Jerry’s, Molton Brown, S.C. Johnson, Skullcandy, SoloStove and Vodafone.
BIGC stock closed 7.7% higher on Monday. It gained another 0.2% in the extended trading session to end the day at $32.77.
Wall Street’s Take
Last week, KeyBanc analyst Josh Beck maintained a Buy rating on BigCommerce and lowered the price target to $40 from $75 (22.4% upside potential).
Overall, the stock has a Moderate Buy consensus rating based on 8 Buys and 4 Holds. The average BigCommerce Holdings stock price prediction of $60.36 implies 84.6% upside potential. Shares have lost 49.8% over the past six months.
TipRanks data shows that financial blogger opinions are 85% Bullish on BIGC, compared to the sector average of 69%.
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