BigCommerce price target lowered to $6 from $8 at BofA

BofA analyst Koji Ikeda lowered the firm’s price target on BigCommerce to $6 from $8 and keeps an Underperform rating on the shares. After having recently attended BigCommerce’s customer conference, BigSummit, the firm came away “more positive” that its strategy to take share of the higher end is ramping and notes that demand checks suggest that its brand awareness is improving. However, “competition remains fierce” and the firm maintains an Underperform rating until it is “confident that competitive threats are not a long-term growth headwind,” the analyst tells investors.