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Bigcommerce Holdings Inc(BIGC-Q)

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BigCommerce (BIGC) Stock Trades Up, Here Is Why

StockStory - Fri Aug 4, 2023

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What Happened:

Shares of e-commerce software platform provider BigCommerce (NASDAQ: BIGC) jumped 7.95% in the morning session after company reported second-quarter results that beat analysts' revenue and earnings per share expectations. The company maintained full year revenue guidance but increased operating profit guidance for that period, which was a welcome development. 

In addition, Daniel Lentz assumed the role of CFO, succeeding Robert Alvarez, who retired in July. BigCommerce also hired technology industry veteran and experienced e-commerce sales leader Steven Chung as its president and announced it will add new AI-powered features to its platform, leveraging Google Cloud's AI technologies. However, its below-Consensus revenue guidance for the next quarter was disappointing. Overall, this was a solid quarter for BigCommerce. The stock is up big, reflecting the quarter and likely also muted expectations going into the print.

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What is the market telling us:

BigCommerce's shares are very volatile and over the last year have had 55 moves greater than 5%. In context of that, today's move is indicating the market considers this news meaningful but not something that would fundamentally change its perception of the business.

BigCommerce is up 37.1% since the beginning of the year, but at $11.44 per share it is still trading 45.4% below its 52-week high of $20.97 from August 2022. Investors who bought $1,000 worth of BigCommerce's shares at the IPO in August 2020 would now be looking at an investment worth $159.13.

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