BigCommerce price target lowered to $11.50 from $13 at Goldman Sachs

Goldman Sachs lowered the firm’s price target on BigCommerce to $11.50 from $13 and keeps a Buy rating on the shares after its Q3 results. The company noted ongoing headwinds from weaker macro and continued elongation in sales cycles, with some new customers also delaying launches to post-holiday season into Q1, the analyst tells investors in a research note. BigCommerce also expects conditions to remain challenging in eCommerce through next year and will prioritize profitable growth in this environment, the firm added.