UBS lowered the firm’s price target on BigCommerce to $11 from $12. The price target decrease reflects BigCommerce’s initial outlook for 2024 of high single digit to low double digit revenue growth and 5-9 percentage points of adjusted OI leverage, the analyst tells investors in a research note. The firm maintains a Neutral rating until there is a better sense that the bottom is in and middle-market sales cycles don’t continue to elongate and cancellation activity doesn’t pick up into the new year.
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Read More on BIGC:
- BigCommerce price target lowered to $11 from $12 at Barclays
- BigCommerce Announces Third Quarter 2023 Financial Results
- BigCommerce sees FY23 revenue $305.0M-$309.0M, consensus $307.01M
- BigCommerce sees Q4 revenue $79.8M-$83.8M, consensus $81.66M
- BigCommerce reports Q3 non-GAAP EPS 1c, consensus (3c)
