BigCommerce price target lowered to $7 from $8 at Jefferies

Jefferies lowered the firm’s price target on BigCommerce (BIGC) to $7 from $8 and keeps a Hold rating on the shares. BigCommerce beat consensus on total revenue for Q3, though ARR came in light and Q4 guidance missed expectations, the analyst noted. BigCommerce also announced a restructuring and the firm believes the company is still in the early stages of repositioning for better future growth and thinks investors “will want to see progress before pushing shares even higher,” the analyst added.