Why BigCommerce Holdings (BIGC) stock rallied today?

Be the First to Comment Read

Why BigCommerce Holdings (BIGC) stock rallied today?

 Why BigCommerce Holdings (BIGC) stock rallied today?
Image source: Blue Planet Studio,shutterstock

Highlights

  • BigCommerce Holdings, Inc. (NASDAQ: BIGC) announced a partnership with Cardstream.

  • BigCommerce revenue rose 49% YoY in Q3, FY21.

  • In Q4, FY21, it expects revenue of between US$61.3 million and US$61.7 million.

Shares of BigCommerce Holdings, Inc. (NASDAQ: BIGC) were up 4% in the premarket trading on Thursday on the back of positive news from the company.

On Tuesday, the Austin, Texas-based company had announced a partnership with Cardstream to boost customer security data.

BigCommerce, a mobile-optimized e-commerce platform, offers software-as-a-service (SaaS) solutions to retailers. It helps create online stores and provides marketing and other services.

Also Read: Hedera (HBAR) crypto price skyrocketed 156% in a year; learn more

The company has integrated various digital wallets like Apple Pay, Masterpass, etc.

BigCommerce Vice President and General Manager Jim Herbert said the partnership would enable the merchants to access the industry's advanced technologies and service providers.

Also Read: Top defense stocks to explore in 2022

BigCommerce Holdings (BIGC) stocks rallied after announcing partnership with Cardstream

Also Read: Thousands of flights disrupted worldwide amid US 5G rollout

BigCommerce (NASDAQ: BIGC) stock performance, financials

Its shares traded at US$30.35 at 8:08 am ET on January 20, up 4.69% from its previous close. The fell 19.83% in the past 30 days. BigCommerce has a market cap of US$2.07 billion and a forward one-year P/E ratio of -46.02. The EPS is US$-0.80.

Also Read: Sony loses US$20 bn in market value after Microsoft-Activision deal

The stock saw the highest price of US$96.66 and the lowest price of US$28.60 in the last 52 weeks. Its trading volume was 1,361,980 on January 20.

The revenue was US$59.3 million in Q3, FY21, an increase of 49% YoY. It reported a net loss of US$21.66 million in the same period, against a loss of US$10.85 million in Q3, FY20. For the fourth quarter of FY2021, it expects revenue of between US$61.3 million and US$61.7 million.

Also Read: SoFi Technologies (SOFI) gets nod to run as holding firm, stock rallies

Bottomline

Over the past year, the e-commerce sector gave a robust performance, helped by the covid-fuelled demand. Analysts expect sustained growth for the e-commerce sector.

Disclaimer

Speak your Mind

Featured Articles