BigCommerce Announces Partnership to Assist Online Sellers

Software-as-a-service (SaaS) e-commerce platform BigCommerce (NASDAQ: BIGC) recently revealed that it has entered into a strategic partnership with a fintech company, SellersFunding, to help e-commerce sellers grow faster.

Following the news, shares of BigCommerce rose 9.6% to close at $23.28 on Tuesday.

The partnership aims to provide a platform to online sellers that will allow them access to SellersFunding’s suite of financial solutions and also transition to an effective direct-to-consumer model with BigCommerce.

Also, customers on BigCommerce’s platform can access SellersFunding’s financial solutions to support their critical operational activities like advertising, inventory management, and research and development of new products

Management Commentary

The Chief Commercial Officer of BigCommerce, Russell Klein, said, “Our partnership with SellersFunding further illustrates our commitment to providing merchants access to the highest-caliber technologies and service providers available in the industry. SellersFunding shares our desire to help merchants sell more and grow faster to maximize success, and we look forward to working together to mutually support customers.”

Stock Rating

Recently, Stifel Nicolaus analyst J. Parker Lane reiterated a Buy rating on the stock. The analyst, however, lowered the price target from $50 to $35, which implies upside potential of 50.3% from current levels.

According to the analyst, the supply chain disruptions and the high energy prices prevailing due to the geopolitical tensions are likely to be headwinds for the company in the near future.

The Wall Street community is cautiously optimistic about the stock and has a Moderate Buy consensus rating based on eight Buys and six Holds. BIGC’s average price target of $33.62 implies that the stock has upside potential of 44.4% from current levels. Shares have declined 56.4% over the past year.

Insider Trading Activity

TipRanks’ Insider Trading Activity tool shows that confidence in BigCommerce is currently Negative based on informative transactions by six insiders over the past three months. Corporate Insiders have sold shares worth $5.7 million over this period.

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