BigCommerce downgraded to Sector Weight from Overweight at KeyBanc

KeyBanc analyst Josh Beck downgraded BigCommerce to Sector Weight from Overweight without a price target. Despite Beck’s generally constructive stance on both management teams and LT strategy in the commerce/backoffice software space, reduced visibility prompts a more cautious stance on BigCommerce, the analyst tells investors in a research note. The analyst sees a combination of a softening ecommerce environment and extending enterprise sales cycle as likely governors of growth and look for increased clarity on a potential rebound.