Piper Sandler analyst Clarke Jeffries raised the firm’s price target on BigCommerce to $11 from $9 and keeps a Neutral rating on the shares. The company reached two important milestones in Q2: breakeven on an adjusted EBITDA basis in June, and positive free cash flow for the first time, the analyst tells investors in a research note. The firm is “very encouraged” by BigCommerce’s profitability improvements and notes the company has acknowledged a focus on improving enterprise annual recurring trends.
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Read More on BIGC:
- BigCommerce price target raised to $12 from $10 at Barclays
- BigCommerce price target raised to $13 from $10 at Canaccord
- BigCommerce sees FY23 revenue $304M-$310M, consensus $306.32M
- BigCommerce sees Q3 revenue $76.3M-$79.3M, consensus $78.97M
- BigCommerce reports Q2 non-GAAP EPS (2c), consensus (9c)