BigCommerce expands European presence; Street Says Buy
Global software-as-a-service E-commerce platform BigCommerce Holdings (BIGC) has expanded its European presence into France, Italy and the Netherlands. The company is already present in the U.K.
BigCommerce offers services like marketing and security for small and medium-sized businesses, search engine optimization, online store creation and hosting to retailers. (See BigCommerce stock chart on TipRanks)
The company will provide a fully localized experience to merchants so that they can manage their stores in their local language. The company will also create a fully localized website experience for shoppers, with their local payment methods and currencies.
The VP and GM EMEA of BigCommerce, Jim Herbert, said, “Our presence in France will enable us to provide tailored programs and services specific to our customers and partners across Europe.”
Two months ago, Truist Financial analyst Terry Tillman maintained a Buy rating on the stock but lowered the price target to $85 from $95 (30.6% upside potential). In a research note to investors, the analyst said his reduced price target reflects recent value erosion in the software sector.
Overall, the stock has a Moderate Buy consensus rating based on 3 Buys and 7 Holds. The average BigCommerce Holdings price target of $62.13 implies 4.5% downside potential. Shares of the company have lost 10% over the past year.
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