BigCommerce Holdings (BIGC) Beats All Key Metrics, Stifel Reiterates Buy Rating

Stifel analyst Tom Roderick reiterated a Buy rating and $95.00 price target on BigCommerce Holdings (NASDAQ: BIGC) after 4Q20 results beat consensus across all key metrics. Total revenue of $43.1mn (+39.1% y/y) beat consensus of $38.6mn on Subscription revenue ($29.7mn) growth of 33% and Partner and services revenue growth of 54%.

The analyst stated "With organizations across nearly all industries investing in e-commerce functionality to better accommodate and reach their customers, we believe the company is well positioned to both capture net new e-commerce share and displace legacy systems that have been stretched beyond their usefulness by the new landscape. In our view, BigCommerce's upmarket motion is also proving highly successful (enterprise ARR +50% y/y), which presents additional pathways to sustain the growth trajectory of the business."

For an analyst ratings summary and ratings history on BigCommerce Holdings click here. For more ratings news on BigCommerce Holdings click here.

Shares of BigCommerce Holdings closed at $65.76 yesterday.

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