As previously reported yesterday, DA Davidson analyst Franco Granda initiated coverage of BigCommerce with a Neutral rating and $11 price target. The analyst is positive on the company’s ample share gain opportunities and significant margin expansion potential, though in the near term, the firm warns that its heavy exposure to SMBs is creating a drag while its customer losses reflect the impact of split attention in its go-to market. DA Davidson adds however that longer term, BigCommerce should benefit from moving up market and broader ecommerce penetration.
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on BIGC: