BigCommerce price target lowered to $12 from $14 at Stifel

Stifel analyst J. Parker Lane lowered the firm’s price target on BigCommerce to $12 from $14 and keeps a Buy rating on the shares. The company’s quarterly results missed on the top-line, but achieved better than expected bottom-line efficiency, the analyst tells investors. Stifel believes a return to 20%-plus growth is contingent on improvement in the macro and better sales efficiency, the firm is encouraged to see the push to profitability, which should result in a more sustainable long-term growth model.