Shares of BigCommerce (NASDAQ: BIGC) were on a downslide on Friday as the software-as-a-service (SaaS) e-commerce platform’s sales forecast for Q1 and FY23 came in below estimates. BIGC has projected total revenues between $69.7 million and $72.7 million in Q1 while analysts were expecting $73.32 million. Operating loss is estimated to be in the range of $8.2 million to $12.2 million.
Discover the Best Stocks and Maximize Your Portfolio:
- See what stocks are receiving strong buy ratings from top-rated analysts.
- Filter, analyze, and streamline your search for investment opportunities with TipRanks’ Stock Screener.
In FY23, the company anticipates revenues between $301 million and $313 million, growing in the range of 8% to 12% but still short of analysts’ estimates of $319.4 million. Operating loss is expected to range from $15.7 million to $22.7 million.
Adjusted loss per share in Q4 narrowed to $0.10 versus $0.17 in the same period last year and better than analysts’ expectations of a loss of $0.19 per share.
Total revenues increased by 12% year-over-year in the fourth quarter to $72.4 million but fell short of consensus estimates of $73.6 million.
Overall, Wall Street analysts are cautiously optimistic about BIGC stock with a Moderate Buy consensus rating based on three Buys and seven Holds.