Barclays analyst Raimo Lenschow raised the firm’s price target on BigCommerce to $12 from $10 and keeps an Equal Weight rating on the shares. The firm views the Q2 results as a positive for BigCommerce with better enterprise customer adds quarter-over-quarter and “nice progress made” towards the adjusted EBITDA breakeven goal in Q4. However, the firm still thinks BigCommerce is a “wait-and-see story” until the macro environment shows more signs of improvement.
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Read More on BIGC:
- BigCommerce price target raised to $13 from $10 at Canaccord
- BigCommerce sees FY23 revenue $304M-$310M, consensus $306.32M
- BigCommerce sees Q3 revenue $76.3M-$79.3M, consensus $78.97M
- BigCommerce reports Q2 non-GAAP EPS (2c), consensus (9c)
- BigCommerce Announces Second Quarter 2023 Financial Results
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